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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

Scottrade renovations proposed - $160m

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Old
05-28-2016, 11:32 AM
  #1
LadyStanley
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Scottrade renovations proposed - $160m

http://www.stltoday.com/business/loc...36d04760b.html

Would include new beer garden and remodeled concourses.

Quote:
Officials of the Blues and the St. Louis Convention & Visitors Commission have discussed with city and St. Louis County leaders renovations of Scottrade Center and Americas Center.

Renovation of Scottrade took a step forward Tuesday when the citys Land Clearance for Redevelopment Authority approved a resolution stating its intent to issue $160 million in industrial revenue bonds to finance the project.

No bonds would be issued before a renovation financing agreement is reached, which officials hope will happen this year. The LCRA resolution could allow the Blues to make some Scottrade improvements this summer and receive reimbursement for their costs later when a final renovation agreement is reached, a source said Thursday.
Interesting.

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06-01-2016, 07:10 AM
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BigMac1212
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Would it also include an improved scoreboard?

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06-01-2016, 08:53 AM
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LadyStanley
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Originally Posted by BigMac1212 View Post
Would it also include an improved scoreboard?
Read the OP link(s).

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Old
06-03-2016, 12:46 PM
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Read the OP link(s).
on me.

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03-15-2017, 04:19 PM
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LadyStanley
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Mayor, Blues asking for public funds to repair/rennovate arena

http://www.stltoday.com/news/local/g...c8da9a6f9.html

Quote:
Mayor Francis Slay led a small group of city leaders here Tuesday urging lawmakers to pitch in on renovations to an aging Scottrade Center. A proposal from Sen. Dave Schatz, R-Sullivan, would allow the state to contribute up to $6 million per year to upgrading the St. Louis Blues' 23-year-old home ice, which officials say needs urgent fixes if it is to continue attracting top-flight sporting events and concerts.
Blues President Chris Zimmerman told a Senate committee the state's money would go toward fixing a laundry list of issues, including failing plumbing, obsolete lighting and an overtaxed air conditioning system.
...
Proponents also offered an array of statistics to support the bid. A report prepared by Johnson Consulting and given to legislators said Scottrade has generated nearly $170 million per year in spending from visitors and an average of about $11 million in annual tax revenue for the state. Together with the Peabody Opera, the Center fills nearly 55,000 hotel rooms per year.

Blues to chip in $50m over the next 20-30 years in renovations as well.


Not renovating means they'll miss out on some tours and events to other/better facilities.

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03-15-2017, 04:33 PM
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I guess with the Rams gone, teams figure there's more $$$ for the rest.

My understanding (and I could be mistaken), the board of Alderman approved the city's share last month - 64 million and this bill is in addition

So if the state declines here, does this plan still move forward on a smaller scale?

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03-16-2017, 07:52 AM
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Tawnos
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I've only been to Scottrade once, but it definitely felt like a building older than 23 years when I was there, and that was 5 years ago. Not a surprise they'd want to renovate.

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03-16-2017, 11:48 AM
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Elephant Igloo
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This arena and the United Center opened in the same year, but the privately-owned United Center has stayed in far better shape because the Bulls and Blackhawks invested in its upkeep and renovations.

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06-29-2017, 05:02 PM
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Scottrade renovations begin, seek to reinvigorate 23-year-old arena

Quote:
Phase one comprises 17 major projects to update various aspects of the building, from the ice plant that makes and maintains the ice for Blues games, to a new 40-by-40-foot video cube above the rink. Other improvements include new wheelchair lifts, a curtain system to partition the arena for smaller events, a new sound system and restroom renovations throughout the building.

“We’re buying from the top of the shelf, not the bottom of the shelf,” Rodrigo said, emphasizing that the project won’t skimp on quality. The arena will also get lighting and signage updates to continue attracting NCAA tournament games like those coming in 2018.
Quote:
When Scottrade reopens, event patrons will notice other visible improvements, including a section of new “theater boxes.”

The theater boxes offer a new seating option, complete with food, cocktails and a luxury view. The boxes are more flexible than traditional boxes, offering more open seating for groups of two to eight people. Rodrigo said the boxes were an effort to provide something innovative.

A new outdoor biergarten, planned for a later phase, will not be limited to event ticket-holders. Situated outside the arena on Clark Street, the space will serve food and drinks year-round.

http://www.stltoday.com/entertainmen...8bd9dfce.html#

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06-29-2017, 11:34 PM
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madhi19
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Quote:
A report prepared by Johnson Consulting and given to legislators said Scottrade has generated nearly $170 million per year in spending from visitors and an average of about $11 million in annual tax revenue for the state. Together with the Peabody Opera, the Center fills nearly 55,000 hotel rooms per year.
$11 million in tax revenue $160 in renovation/upgrade cost they will be whole in 14 years. The Blues will start begging for a new arena in half that time. You choices are...

1) Build a new arena now.

2) Renovate and buy like 7 years before the begging/blackmail restart.

3) Tell the Blues to build their own barn, shut up and play where you are, or relocate to one of the magic market that don't really exist in the West at the moment.


Too bad they did not pick three this is the perfect time to put the squeeze on a NHL owner. Especially one in the west. They got nowhere to go and the league got at least three dumpster fire more urgent to fix than the Blues bad plumbing issues.

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07-03-2017, 08:48 AM
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Quote:
Originally Posted by madhi19 View Post
$11 million in tax revenue $160 in renovation/upgrade cost they will be whole in 14 years. The Blues will start begging for a new arena in half that time. You choices are...

1) Build a new arena now.

2) Renovate and buy like 7 years before the begging/blackmail restart.

3) Tell the Blues to build their own barn, shut up and play where you are, or relocate to one of the magic market that don't really exist in the West at the moment.


Too bad they did not pick three this is the perfect time to put the squeeze on a NHL owner. Especially one in the west. They got nowhere to go and the league got at least three dumpster fire more urgent to fix than the Blues bad plumbing issues.
I don't think option 3 would be wise for the city. If the Blues did somehow have enough money to build a new arena the city would still own Scott Trade and would be losing it's most consistent draw for the venue. They would also have to compete with the new arena for events and concerts. Your point about other markets is true, but investing in renovations does make sense for the local government in this instance.

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07-03-2017, 09:21 AM
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Quote:
Originally Posted by madhi19 View Post
$11 million in tax revenue $160 in renovation/upgrade cost they will be whole in 14 years. The Blues will start begging for a new arena in half that time. You choices are...

1) Build a new arena now.

2) Renovate and buy like 7 years before the begging/blackmail restart.

3) Tell the Blues to build their own barn, shut up and play where you are, or relocate to one of the magic market that don't really exist in the West at the moment.


Too bad they did not pick three this is the perfect time to put the squeeze on a NHL owner. Especially one in the west. They got nowhere to go and the league got at least three dumpster fire more urgent to fix than the Blues bad plumbing issues.
you still have the Dome sitting there in St. Louis, as well, that's in far worse shape than ScottTrade.....

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07-03-2017, 02:21 PM
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Quote:
Originally Posted by madhi19 View Post
$11 million in tax revenue $160 in renovation/upgrade cost they will be whole in 14 years. The Blues will start begging for a new arena in half that time. You choices are...

1) Build a new arena now.

2) Renovate and buy like 7 years before the begging/blackmail restart.

3) Tell the Blues to build their own barn, shut up and play where you are, or relocate to one of the magic market that don't really exist in the West at the moment.


Too bad they did not pick three this is the perfect time to put the squeeze on a NHL owner. Especially one in the west. They got nowhere to go and the league got at least three dumpster fire more urgent to fix than the Blues bad plumbing issues.
The Blues are paying a very large chunk of the upgrade cost and said they are doing this so they wont need a new arena as the current building is 20+ years old. The city owns the current building which was paid for by private money and the city has never really spent any money on the upkeep of the arena, the city has zero desire for the Blues to build their own arena as it would easily become the best arena in the area and would leave the city owned buildings empty.

STL has been successful in the past bringing in NCAA events and other national type events, however these groups have told the city without improvements soon they will stop coming. Which means a lot less money for the city and the state.

You are really going out of your way to push a narrative that doesnt match reality and clearly dont know enough (or anything) about the situation. That $11MM in revenue is state revenue it does not include the tax revenue for the city also as of right now the state is not providing any money for the renovations. If it takes the state 14 years to earn back $0 there is something seriously wrong. The $160M is the total amount of the original proposed project and includes the funds from the team and the city.

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07-05-2017, 08:12 PM
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About time, place is a dump. Reminds me of the Rosemont Horizon.

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07-08-2017, 10:01 AM
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Originally Posted by ColdSteel2 View Post
About time, place is a dump. Reminds me of the Rosemont Horizon.
The Canucks own their building, Rogers Arena. Over the first 20 years since it opened in the fall of 1996, the team has put $100 million CAD into renovations into the building. Average of $5 million per year.

So, an investment into the building is a necessity. You have put money into a fund to do some renovation work every few years.

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07-08-2017, 11:13 PM
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Any rink built in the last 25 years should have a lifespan of around 50 years. If they were designed decently they should be adaptable and the cost of $160M in renovations to go another 15 years vs. paying $800M for a new rink and likely still owe on the old one....well....renovations will win out every time.

The old barns were renovated as much as they possibly could be....these new venues should be able to be modified and last 40 years easy if not 50. The only real lifespan is what type of amenities become popular and if the building is capable of adding them or not.

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07-10-2017, 05:39 PM
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Originally Posted by CHRDANHUTCH View Post
you still have the Dome sitting there in St. Louis, as well, that's in far worse shape than ScottTrade.....
The dome is way too big for most uses, at least ScottTrade is multi-use. The dome is mostly used for dirt bike racing and RV/Trade shows now.

The city/county and state sill have $100m+ remaining in payments on the dome, ****ing disaster of a deal. Somehow in this whole thing, Kroenke bought their practice facility for $1 too.

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07-10-2017, 06:24 PM
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Originally Posted by Tawnos View Post
I've only been to Scottrade once, but it definitely felt like a building older than 23 years when I was there, and that was 5 years ago. Not a surprise they'd want to renovate.
I've been there twice, to see the Kings in 2012 and 2013 playoffs and felt the same way. Looked nice from the outside but seemed more dated than similar aged buildings inside.

St. Louis was also a bit burned with the timing of when both these places were built. The arenas in LA, Denver, St. Paul, Columbus and Dallas that were built 5-10 years later just seem so much more modern than some places built in the early 90's like St. Louis, San Jose and Anaheim.

And with the dome, much like with the Georgia Dome the traditional domed stadium was a relic by the early part of this century once Ford Field, Reliant Stadium, Lucas Oil and other more open concept indoor fields were built.

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07-12-2017, 12:13 PM
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Elephant Igloo
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The United Center was built at the same time as the Kiel Center but doesn't feel like it's anywhere near the end of its lifespan.

Wasn't there some talk of St. Louis tearing down the Dome to expand the convention center space?

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07-12-2017, 02:37 PM
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Quote:
Originally Posted by Elephant Igloo View Post
The United Center was built at the same time as the Kiel Center but doesn't feel like it's anywhere near the end of its lifespan.

Wasn't there some talk of St. Louis tearing down the Dome to expand the convention center space?
Kind of, the Dome is attached to the convention center. The dome is pretty much pointless as there is only a few things a year that can use the dome for entertainment purposes. So the talk was of renovating the dome to make the convention center larger while shrinking the dome space making it potentially more useable.

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