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Updates to the Joel?

Bama is building a new hoops arena for 183M. Cost to renovate existing arena 150M. I suspect we can spare some of their expense and get it done for less than 183M.

And some of you have apparently not grasped the concept of using debt to defer costs over time.

https://apnews.com/article/sports-b...e-basketball-c7aa158045f617c7c1e3a2bacc17cb39

Their coach, not surprisingly, says it will be the nicest arena in the SEC. Just over 10K seats.
 
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DeacMan said:
Georgia State is building a 7500 seat arena at a cost of 82.5M. No one has to buy land here.

GSU-Convocation-5.jpg
Click to expand...

Change the blue to black, add some risers and elevated seating above them, and that's just about perfect. Situate it on the existing Joel parking lot so that you see McCreary tower out the window and then knock down the Joel once complete. Light up McCreary tower at night with a nice DMX controlled light show.
 
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DeacMan said:
Georgia State is building a 7500 seat arena at a cost of 82.5M. No one has to buy land here.

GSU-Convocation-5.jpg
Click to expand...

This and the JMU are the best size comps I have seen recently. Yes, this cash isn't coming straight out of the endowment, but just for some perspective:

George State endowment - $182M
James Madison endowment - $111M
Wake Forest endowment - $1.35B

Making the NCAAT this season would be a nice boost of cash to start.
 
PaddyWF said:
This and the JMU are the best size comps I have seen recently. Yes, this cash isn't coming straight out of the endowment, but just for some perspective:

George State endowment - $182M
James Madison endowment - $111M
Wake Forest endowment - $1.35B

Making the NCAAT this season would be a nice boost of cash to start.
Click to expand...


They're also state schools getting state money. I'm sure these are multi-purpose facilities as well, especially if they're on campus.
 
DeacMan said:
Bama is building a new hoops arena for 183M. Cost to renovate existing arena 150M. I suspect we can spare some of their expense and get it done for less than 183M.

And some of you have apparently not grasped the concept of using debt to defer costs over time.

https://apnews.com/article/sports-b...e-basketball-c7aa158045f617c7c1e3a2bacc17cb39

Their coach, not surprisingly, says it will be the nicest arena in the SEC. Just over 10K seats.
Click to expand...

I wonder where Bama got all that extra money. Hmmmm. Thanks Nick
 
seems highly unlikely the school would pay $8 million for the joel and that land and then move the arena elsewhere. the purchase makes some sense if its in an effort at making that entire area a wake sports complex with groves and continued development

razing it and rebuilding on that plot of land seems like it could be an option though, as the cost to do that and build exactly what you want now is prob worth it compared to the reno costs for the joel. also the fact that wellman announced a big reno project with mockups and we haven't heard anything about it under currie makes me think it is being discussed
 
Wake bought everything on Deacon Blvd and Beatty street (RIP Ziggy's) more than 15 years ago. All we have to show for it, is a bunch of closed down/razed businesses. It's time for them to do something with the area.
 
tvcigar said:
Wake bought everything on Deacon Blvd and Beatty street (RIP Ziggy's) more than 15 years ago. All we have to show for it, is a bunch of closed down/razed businesses. It's time for them to do something with the area.
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And a decade and a half of parking revenue through two global economic collapses.
 
Fuck Your Couch said:
seems highly unlikely the school would pay $8 million for the joel and that land and then move the arena elsewhere. the purchase makes some sense if its in an effort at making that entire area a wake sports complex with groves and continued development

razing it and rebuilding on that plot of land seems like it could be an option though, as the cost to do that and build exactly what you want now is prob worth it compared to the reno costs for the joel. also the fact that wellman announced a big reno project with mockups and we haven't heard anything about it under currie makes me think it is being discussed
Click to expand...

Probably correct on the first point.

And the renovation costs would be significant. Maybe not as much as a new arena, but not cheap.
 
Don’t lose sight of the fact that Wellman unilaterally bought it. There were 0 other offer potential buyers so it was a horrible buy.

He wasted 8 million—which he’s done many times.

But that doesn’t mean we should lose for 30 more years because of the wasted 8 million. Losing on the regular costs you way more than that. It was a double bogey. Have to move on. Can’t compound it by making a quad.
 
DeacMan said:
Are you suggesting an indoor arena wouldn't be a multi-purpose facility?
Click to expand...

What campus events does the Joel regularly host now? A new facility in that location would be very different than a typical campus multi-purpose facility.

https://facilities.gsu.edu/project/convocation-center/
The GSU Convocation Center will house a large, multi-purpose arena with a seating capacity of 8,000, and will host athletic events, convocations, commencements, conferences, concerts and other major events on a scale reflective of the University’s national and international stature in learning and research.
 
PhDeac said:
What campus events does the Joel regularly host now? A new facility in that location would be very different than a typical campus multi-purpose facility.

https://facilities.gsu.edu/project/convocation-center/
The GSU Convocation Center will house a large, multi-purpose arena with a seating capacity of 8,000, and will host athletic events, convocations, commencements, conferences, concerts and other major events on a scale reflective of the University’s national and international stature in learning and research.
Click to expand...

You mean we'd have an arena that couldn't host concerts, conferences and other athletic events? Seems odd.
 
donaldross said:
Don’t lose sight of the fact that Wellman unilaterally bought it. There were 0 other offer potential buyers so it was a horrible buy.

He wasted 8 million—which he’s done many times.

But that doesn’t mean we should lose for 30 more years because of the wasted 8 million. Losing on the regular costs you way more than that. It was a double bogey. Have to move on. Can’t compound it by making a quad.
Click to expand...

That’s a fucking bargain. How many other 30 acre sites are available a mile from campus ?
 
we've got our football stadium, tennis complex, and baseball stadium right there and purchased the basketball arena in that area. we aren't moving it.
 
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