Archive for November 16, 2011

Durham Performing Arts Center (DPAC) Proves Big City Benefits Once Again

Durham Performing Arts Center (DPAC)

Durham Performing Arts Center - Durham, NC

If you were reading the Garfield Traub Public Private Partnerships blog recently you would have seen our last article titled, “Dallas Convention Center Hotel Development Brings Big Benefits to City.” There we explained how convention center hotel developments are boosting city revenue and bringing in new visitors and business in large numbers. Additionally, you may have read towards the end of the article about performing arts centers allowing cities to reap similar benefits. A press release from the Durham Performing Arts Center (DPAC) was released yesterday titled, “DPAC Gets Ready to Celebrate 3 Monumental Years,” reinforcing our point even more.

The DPAC press release cited that the Durham Performing Arts Center is celebrating multiple achievements in the month of November, including being named once again in the top 10 theater venues in attendance in America, the New York Times Travel section recognizing the DPAC as “an integral part of the city of Durham’s continuing success,” and the celebration of the DPAC’s 3rd Anniversary on November 30, 2011.

In a previous article titled, “Garfield Traub Development DPAC Proves Skeptics Wrong” we noted that trade publication Pollstar named DPAC #2 in the U.S. for attendance, and #4 internationally in 2011 Pollstar’s Top 100 Theater Venues for ticket sales. The DPAC has stated that, “In the U.S., DPAC is on the heels of the Coliseum at Caesars Palace in Las Vegas- a theater often referred to as the home of the greatest entertainers of the world, and the legendary Fox Theatre in Atlanta. Trailing DPAC is #4) Nokia Theatre L.A. Live , LA, CA #5) Beacon Theatre, NY, NY #6) Broward Ctr. Au-Rene Theater, Fort Lauderdale, FL, #7) Radio City Music Hall NY, NY, #8) Verizon Theatre at Grand Prairie, Grand Prairie, TX, #9) Orpheum Theater, Omaha, NE and #10) Dreyfoos Theater, West Palm Beach, FL.”

With a new theater development like the Durham Performing Arts Center being built in a down economy, like the Dallas Convention Center development, taxpayers and some city officials were skeptical. However, as time has proven again and again, it is these developments that, if planned well, can make the difference how a city weathers and how quickly a city recovers from a down economy.

Durham Performing Arts Center Representative Reginald James Johnson was recently asked by KCPW radio station, Utah’s first and only 24-hour commercial-free news and information radio station, if there was an economic benefit to building the DPAC. Mr. Johnson replied by saying, “The Durham Performing Arts Center opened in bad economy in 2008, and when the DPAC first opened they sold out and restaurants surrounding it were thriving despite others in most other cities plummeting in sales.” And Schuster Center Representative

Schuster Center

Schuster Center Dayton, OH

Ken Neufeld answered that same KCPW question by saying, “Dayton, Ohio was behind the scene and needed to be put in a favorable position to recruit businesses and people. Statistically, arts amenities are one of the top three things people are looking for when moving or coming there. Over half of ticket sales for the Lion King Broadway show were made up of those who had never been to theater before, thus bringing in new customers for all businesses located around the Center. Performing arts centers are an infrastructure that smart cities have to have, and it has paid off for Dayton a lot.”

If you would like to know how you might be able to get a Performing Arts Center like the DPAC developed in your city contact Garfield Traub.

DALLAS CONVENTION CENTER HOTEL DEVELOPMENT BRINGS BIG BENEFITS TO CITY

Omni Dallas Convention Center Hotel

Omni Dallas Convention Center Hotel

The new 1,000-room Dallas Convention Center Hotel made front page of the Dallas Morning News today announcing its debut this Friday. Along with that debut, the City has a lot more to be excited about with actual revenue earnings climbing well above the originally projected numbers.

This rise in revenue is not uncommon with Convention Center Hotels despite the down economy. Convention Center Hotels have proven, if planned well, to bring not only success in city revenue, but also in creating more jobs, boosting revenue for surrounding businesses, and in bringing more visitors to their cities.

The idea for the almost $500 million Dallas Convention Center Hotel stemmed from the City wanting to reap the benefits mentioned above. Luckily for Dallas, the hotel is already doing just that and it has not even opened yet.

Omni Dallas Convention Hotel Roof Top

Omni Dallas Convention Center Hotel Roof Top

According to City figures, The Dallas Omni Hotel has booked 273 meetings and conventions through 2017. And the Dallas Convention Center is already reaping the benefits from 89 of those that will use their space. Additionally, figures presented to the Dallas Morning News by Chief Financial Officer for the Dallas Convention Center & Visitors Bureau Matthew Jones, cited that in fiscal years prior to voters approving the hotel, the city booked 31 large conventions. In the fiscal years immediately following the vote, there were 45.

It is these reports that also have the City excited that they will more than likely not have to use any of their reserve funds to pay back any part of the $497 million in bonds used to build the hotel. The numbers also ease the City’s concerns that the taxpayers, who almost killed the hotel project in May of 2009 with a referendum will be angry with them in the end.

Durham Performing Arts Center (DPAC)

Durham Performing Arts Center - Durham, NC

“This anger is not uncommon with taxpayers ever since the onset of the current recession,” said Ray Garfield of Dallas-based Garfield Traub Development. “Taxpayers worry that their money is going to frivolous desires by the City, but it is actually projects like the Dallas Omni Hotel, Durham Performing Arts Center in Durham, North Carolina, and many others that prove that even though times might be tough, it is hospitality and entertainment developments like these that are helping to keep cities going and looking their best.”

To find out more about how a Convention Center Hotel or Performing Arts Center might help your city, contact Garfield Traub.

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