Westside Future Fund Retail Market Analysis & Recommendations Sept. 2016
Downtown Winchester Arena Concept
1. Is it a goal of City officials to get more people downtown on the walking mall?
2. How do we get more people walking on the downtown walking mall?
3. Would an Arena/Event Center on the walking mall draw folks downtown on a consistent basis?
4. Where would an Arena be best suited on the downtown walking mall?
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6. There are (3) types of telescopic seating used in this diagram: Portable bleachers (611) , Platform chairs (1308) and Stadium chairs (801) for a total of 2720. This does not include any loose seating in front of the bleachers or at the top of the 2nd floor which would add a couple of hundred to that count. So realistically with this design (180’x287’), there could be a seating capacity of 3,000 seats.
10. There is a total of 1772 parking spots within the (4) Autoparks
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12. There is a total of 166 parking spaces in the Surface Lots: Plaza Lot (35) Cork Street Lot (35) Palace Lot (27) Hable Lot (31) Braddock Lot (25) Autopark Lot (13)
13. The City website states there are 400 On-Street Metered parking spots available
14. 2338 possible parking spots available: 1772 – Four AutoParks 166 – Surface Lots 400 – On Street Metered spots
18. If the Arena is constructed to accommodate in the capacity of 3000-4000 then the following breakdown could be very realistic. Based on an average of (2) events per week: An average of 2,500 individuals per event, would draw 20,000 monthly = 240,000 annually An average of 3,000 individuals per event, would draw 24,000 monthly = 288,000 annually $10-$20 per visit, per individual spent on the walking mall would equate to a ballpark figure of $2.4-$5.76 million dollars being spent within our local downtown area. Hotel stays are NOT calculated in this figure. When factoring in the economic multiplier of 1.5 , the local economy financial impact would be a range of $3.6-$8.64 million annually.
19. For future projections, based on an average of (3) events per week: An average of 2,500 individuals per event, would draw 30,000 monthly = 360,000 annually An average of 3,000 individuals per event, would draw 36,000 monthly = 432,000 annually Each individual spending $10-$20 per visit on the walking mall just alone that would equate to a ballpark figure of $3.6-$8.64 million dollars being spent within our local downtown area and that is NOT even including the hotel stays. When factoring in a economic multiplier of 1.5 , the local economy financial impact could range from $5.4-$12.96 million dollars annually.
20. This idea and location for an Arena on the Loudoun Street walking mall would build upon the revitalizing project for the downtown area. (Reflect on what Washington, DC did with the Verizon Center)