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re: Hypothetical: You're the AD, you have to allocate $100M on new projects Today
Posted on 8/7/14 at 10:00 am to Loathor
Posted on 8/7/14 at 10:00 am to Loathor
quote:
I don't know the legality or compliance issues that that would cross though... but maybe buy the property and direct what can go in there could be doable?
I think the biggest issue here is allow the zoning laws to be relaxed. That's a city issue. The real estate around the stadium has absolutely skyrocketed over the last decade. The cost for an entrepreneur to buy out one of those warehouses and turn it into a bar is past the point of being able to make a profit for a few years. When I was in school, we tailgated out of a warehouse that they had attempted to turn into a bar before they ran out of money. If it was like that before the team was really any good, I can't imagine how prohibitively expensive it would be for local cats to pull it off now.
And I have no desire to see a Chili's or TGI McWholabie's or some other corporate chain restaurant/bar move into the area. At the economies of scale we're talking about, that may be all that's realistically left.
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Posted on 8/7/14 at 10:13 am to RoyalAir
quote:
I think the biggest issue here is allow the zoning laws to be relaxed. That's a city issue. The real estate around the stadium has absolutely skyrocketed over the last decade. The cost for an entrepreneur to buy out one of those warehouses and turn it into a bar is past the point of being able to make a profit for a few years. When I was in school, we tailgated out of a warehouse that they had attempted to turn into a bar before they ran out of money. If it was like that before the team was really any good, I can't imagine how prohibitively expensive it would be for local cats to pull it off now.
And I have no desire to see a Chili's or TGI McWholabie's or some other corporate chain restaurant/bar move into the area. At the economies of scale we're talking about, that may be all that's realistically left.
Right, but I'm talking the school buys the land, and dictates what could be built there. Then they lease out the property to business looking to move into the area. I wouldn't imagine the school would have too much issue with the zoning as they still hold quite a bit of influence with the city. It would then be in their best interest to make sure that any business going into the are would adhere to whatever entertainment plan they set. They would actually then be investing the new found money into property and building it up in addition to making the area around the stadium more visitor friendly.
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