1 / 71

Tennessee State Fairground

Highest and Best Use Study Presentation for the. Tennessee State Fairground. November 19, 2008. Background. Background. Study was conducted in response to request for long-term lease of the racetrack Study was originally focused on future use of the Fairgrounds, as a Fairgrounds – not moving

traviss
Download Presentation

Tennessee State Fairground

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Highest and Best Use Study Presentation for the Tennessee State Fairground November 19, 2008

  2. Background

  3. Background • Study was conducted in response to request for long-term lease of the racetrack • Study was originally focused on future use of the Fairgrounds, as a Fairgrounds – not moving • Board members posed two questions that refocused the study

  4. The Questions • What is the future potential for the annual Tennessee State Fair? • How does the future of the Fair impact site and facility needs?

  5. Components of the Study • Assessment of Long-Term Viability of the Fair and Identification of Potential Future Uses of the Fairgrounds • Recommendations of Future Fair and Fairground Use

  6. Phase I

  7. Mission & Vision

  8. Mission To be a major venue for agricultural, exhibition, entertainment, cultural, and educational uses to enhance the economic and social benefits to the residents and visitors to the middle Tennessee region. Of primary importance is the staging of the annual Tennessee State Fair that showcases agriculture, commerce, technology, and industry of the region and provides quality educational and entertainment opportunities for its patrons.

  9. Realities of the TN State Fair • Tennessee State Fair – a county/regional fair • Declines in paid and total attendance • Perceived “static” programming • Perceived safety issues • Decline in 4-H participation

  10. Viability of the TN State Fair • Tennessee State Fair’s future is very viable – potential to become a true State Fair • Requires changes to operating model, programming, facilities and, perhaps, site location • Potential for strengthened and new partnerships with key organizations

  11. Input Process

  12. Interviews, Input and Comments • Public meetings in January, May, August • Neighborhood district visioning session • Comments submitted at websites • Interviews of current users, stakeholders, interested parties and public officials

  13. Site Characteristics

  14. Current Physical Conditions • Access/Road System, Public Transportation • Site Size and Layout • Surrounding Land Uses • Zoning and Deed Restrictions • Topography and Special Conditions

  15. Access Factors

  16. Access Factors

  17. Access Factors

  18. Site Size and Layout • Approximately 117 acres • 35 acres in floodplain and embankments • About 23 acres for main facilities • About 14 acres related to grandstand, racetrack and pit areas

  19. Topography and Special Features

  20. Topography and Special Features

  21. Topography and Special Features

  22. Topography and Special Features

  23. Demographic/Economic Factors

  24. Economic & Demographic Factors • Population trends of the Nashville/Davidson County area • Socio-Demographics of area within 15 miles of the Fairgrounds

  25. Market Penetration • In 2007, attendance represented 12.6% of County resident population • True state fair should be able to garner 25% to 35% market penetration • Range of potential attendance – 350,000 to 500,000

  26. Current Uses of Fairgrounds

  27. Events and Activities Three Principal Business Units • Annual Tennessee State Fair • Monthly Flea Market • Non-Fair Rentals and Leases

  28. Competitive Factors

  29. Competitive Factors Exhibition Space Competition • Nashville Convention Center • Gaylord Opryland Convention Center • Local area hotels

  30. Competitive Factors Spectator Event Facility Competition • Municipal Auditorium • Sommet Center • Curb Event Center • Allen Arena

  31. Racetrack Lease/Operations

  32. Racetrack Lease • Current lease provides base rent of $50,000 per year for all facilities plus percentage of concessions revenues • Base rent – less than $140 per day for the facilities included in the agreement • Ten years ago the lease payment exceeded $250,000 per year

  33. Racetrack Lease • Though car counts are up in recent years, attendance has been unremarkable

  34. Racetrack Attendance Trends

  35. Racetrack Attendance Trends

  36. Racetrack Lease • NASCAR’s televising of major races has negatively impacted weekly racing series attendance nationwide • Continued competition from Nashville Superspeedway and Music City Raceway

  37. Fairground Trends

  38. Fairground/Event Facility Trends Review of State and Regional Fairgrounds • 100% have livestock and exhibit facilities • 92% have horse show facilities • 72% have an arena • 69% have RV facilities (average of 250 to 300) • 53% have a grandstand • 14% have amphitheater

  39. Fairground/Event Facility Trends • Multi-purpose event facilities • Addition of sports and recreation venues • Partnerships with carnival operators for permanent rides and entertainment areas • Lease of out lots for retail, commercial and hotel developments

  40. Request for Information

  41. RFI Approach • In June, issued RFI to public organizations and private companies • More than 100 – real estate developers, sports and entertainment, racing, economic development • Purpose of the RFI: Solicit interest and ideas for the possible redevelopment of the Fairgrounds

  42. RFI Response • Nine Responses • Two Did Not Meet Development Criteria • Five Were Similar in Redevelopment Concepts and Impacts • Two Were Unique in Concept and Impact

  43. RFI Responses • Presentation to Fair Board on August 5 • Public Presentation on Aug 20 by • Southern Land Company • TEAM 821 • Tennessee Motor Sports Conservancy • Wedgewood Partners

  44. Southern Land Company Mixed-Use, Town Center Concept • For Sale/Rental Housing (1,000 – 1,100 Units) • Entertainment District (Amphitheater) • Retail/Commercial (350K – 500K sq. ft.) • Park Area (43 acres)

  45. Single-Family Cottage District Residential Overlook District Mixed Use Entertainment / Venue District IMAGE Green District Legion Park

  46. Legion Park IMAGE

  47. Team 821 Film and Entertainment Development • Film and Television Production Studio • Higher Education Film School • Mixed-Use Office and Housing • Arts and Entertainment Venue

  48. Browns Creek Media Village

  49. Browns Creek Media Village

  50. TN Motor Sports Conservancy Sports and Entertainment District • NASCAR Speed Park • Water Park Hotel • Baseball Stadium • Hall of Fame • Entertainment District (800K sq. ft.) • RV Park • Educare • Amphitheater • Music City Motorplex

More Related