News New Downtown Arena

Ramcounter

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Dec 7, 2011
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There is no sense in building a new one unless it has the capacity to draw some major events. The old coliseum needs to be replaced, and there is no point in replacing it with another 10,ooo k arena.

I think it will happen. Would almost bet some cash that VCU may throw a little cash in as well.

Better conference, better arena for big games. I think it is the real reason we are not in the Big East.
But why does the city need a new arena so badly? There are plenty of great venues to watch concerts in the city and it is not like JPJ, Virginia Beach, and DC is too far away. If the school facility plan is going to cost around $225 million and JPJ arena cost $174 million in 2017 dollars why not combine the new meals tax and the arena cost to fully fund the school board facility plan? My numbers may be off but it seems like the mayor is choosing to back a high risk project that may leave the city on the hook for debt wise over funding the school system.
https://wtvr.com/2018/02/12/city-meal-tax-city-council-vote/
https://en.m.wikipedia.org/wiki/John_Paul_Jones_Arena
 

AlienAiden

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May 3, 2012
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So the city gives up $165 million in prime location real estate taxes and in return gets an arena that will be used how many days a year? Also, what happens if the tax revenue is not enough to cover the debt payments like has happened in so many other cities?
I admit I am not in the know with how a private development should go down. Henrico did a deal with Facebook recently. You got to give up something but in the long term you get the taxes back.
 
May 4, 2012
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It's funny how everyone is predicting how the new facility will and will not be used.I wonder how many conventions have passed us by in the last 20 years because the coliseum is such a dump?
There is a nice convention center across the street.
They need tenants. A hockey team perhaps. Maybe a G league team ?
It's silly to build something because we might get a couple concerts. I'm delighted the amphitheater is back in business and drawing some good mid range acts.
We need a Coliseum like a giraffe needs a unicycle.
 

vcubob

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Apr 19, 2009
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If your going to build a new arena, needs to be big enough to sponsor NCAA tourney and other large events. The old one needs to be gone. JPJ is too far away to draw folks to Richmond. The Richmond area is growing. Without knowing any of the financial details I would vote yes.
 

PuddinDaStunna

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Mar 8, 2010
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We need this much more than a new baseball stadium. Much smaller cities than Richmond fill up large arenas with concerts, minor league sporting events, etc. There would be no problem filling this with events, imho. Cities like Charlottesville, Sioux Falls, Omaha, Hershey, Green Bay, Allentown, Louisville, Wichita, Tulsa, Des Moines, etc all draw many more major events than Richmond because they have modern arenas.
 

BracketForecast

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May 9, 2011
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The Richmond housing market is starting to overheat. Growth in the area, and specifically the city, is ramping up quickly. That is mostly a good thing, but there's a serious downside if the issue isn't planned for in advance. There's pent up demand that will make the cost of living here start to get quickly out of control if we don't take steps to alleviate the pressure. You do this by building housing: dense, vertical, and near mass transit. This keeps (some) traffic off the roads and freeways so that congestion is less of an issue. We need to plan ahead before it's 2030 and we're the next Austin (I lived there, trust me, that's not a good thing).
 
Mar 16, 2014
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Innsbrook after hours sells out its 8500 capacity quite often
No one really cares to goto the city from short pump area. At least not for entertainment. The city keeps making terrible choices. The stupid pulse system has narrowed already narrow roads narrower. It's a nightmare . I dont know what documents the city saw to approve this madness. It has hurt a ton of tax paying businesses while some have called bankruptcy.
 

RamStrut

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Mar 8, 2011
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There is absolutely no way other than a NCAA tourney game, marquee concert, Bassmasters weighing, monster trucks or Disney on Ice that Richmond would ever fill up 17,500 seats. I'm the biggest RVA lover ever, but it's a waste of money. Richmond isn't DC. It's not Philly. it's not Atlanta. It isn't even Charlotte. Let's try to be objective here. RVA would require a Pro team to fill even 15000 seats and that's not going to happen in the near (or far) future.

Charlotte can't even dream about filling 20k seats regularly. Why would we think RVA could?

Nice to think about and dream about, but really having a cavern in RVA isn't going to do anyone any good. The existing arena is plenty large and easily renovated and painted a large variety of black and gold. That arena isn't the Siegel Center.

As much as we'd love to believe that 17,500 Ram fans would show on a regular basis that's not realistic. I'm not a hater and it would be a beautiful addition to the city. Show me an NHL hockey team and I'll say build the thing in a minute.
I disagree. As a Charlotte born native, Charlotte was smaller than Richmond a few decades ago and then they made somr major changes getting the banks to come in and took off. But it took a lot of effort and risk from the city to create the boom. Also, they'd easily pack the Hornets arena if they had the tiniest amount of success with the team.
 
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Mar 2, 2014
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Innsbrook after hours sells out its 8500 capacity quite often
No one really cares to goto the city from short pump area. At least not for entertainment. The city keeps making terrible choices. The stupid pulse system has narrowed already narrow roads narrower. It's a nightmare . I dont know what documents the city saw to approve this madness. It has hurt a ton of tax paying businesses while some have called bankruptcy.
I work in Innsbrook. 20 years from now that area will be a crap hole. The traffic is terrible, and restaurants are already closing because there is too much competition. The school district in the area is top notch, but I know of 4 families in the last year that have moved out of the area because of traffic and over crowding. Whether it be Richmond or the surrounding area, the metro needs a new arena. Their are plenty of people in the area to draw from not just Short Pump/Innsbrook.
 

Ramcounter

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Dec 7, 2011
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I admit I am not in the know with how a private development should go down. Henrico did a deal with Facebook recently. You got to give up something but in the long term you get the taxes back.
The problem I have is that the two dominion towers have already been built so it is not like the land would still be a vacant field if this deal does not happen. Also, they don’t say who is on the hook if the deal fails to generate enough revenue to pay for the bonds. Is it the tax payers who would have to make core service cuts to cover the bad deal or would the developer just declare bankruptcy and call it a day.

We don’t know what the proposals would have been if the city did not require an arena to be built as part of the development. Would there be additional shops/condos/apartments in place of the arena or is the arena the driver of the development and little gets developed without it? Personally, I would view living next to an arena as a negative thing and expect a discount on price as a result.
 
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mrgeode

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Mar 22, 2013
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I have no issue with building a new arena, but housing is the real thing. It's also the way this plan makes money; the arena is ancillary to the actual goal, but of course it's nice to find a way to publicly finance as much of it as possible :roll:

@Ramcounter it's almost certain the arena is the nominal driver for the proposal. Check out the construction of Atlantic Yards as part of the redevelopment of the area around Barclays by way of comparison.
 
Mar 18, 2012
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I disagree. As a Charlotte born native, Charlotte was smaller than Richmond a few decades ago and then they made somr major changes getting the banks to come in and took off. But it took a lot of effort and risk from the city to create the boom. Also, they'd easily pack the Hornets arena if they had the tiniest amount of success with the team.
Where do you think the BANKS came from? The FEDERAL RESERVE BANK was not placed in Richmond just because the real estate values were affordable.