A Permanent Arena Vision for Santa Cruz
Victus Advisors provides a comprehensive feasibility study to guide Santa Cruz’s plans for a new 3,500-seat mixed-use arena downtown.
Client
City of Santa Cruz (Calif.)
Sector
Public Assembly Venues
Project
Market Demand & Financial Feasibility Study for a Permanent Mixed-Use Arena
Year
2016
Client Challenge
The City of Santa Cruz needed to evaluate the viability of a permanent, multi-use arena in the heart of downtown. Key goals included establishing a long-term home for the NBA D-League Santa Cruz Warriors; hosting concerts, conventions, and youth and amateur sports; boosting downtown economic development; and minimizing competition with the existing Civic Auditorium.
Approach
Victus Advisors conducted a detailed feasibility study that included regional demographic and socioeconomic analysis, a competitive facility assessment, tailored event projections, recommended arena configuration, financial forecasts and a long-term economic impact assessment.
Benefits to Client
The study provided a clear roadmap for the City, including recommendations for a 3,500-seat arena with retractable seating and portable flooring to maximize flexibility. Findings projected up to $855 million in total economic output over 30 years, 330 sustainable jobs and annual operational income nearing $400,000. This equipped Santa Cruz with defensible data for planning and funding discussions.