Update on FSU's Arena District

https://www.tallahassee.com/story/news/money/2018/09/24/updated-feasibility-study-approved-fsus-convention-center/1380657002/

An updated feasibility study has been commissioned to determine if and what kind of convention center could be suitable for Florida State's emerging Arena District. 

During Thursday's Blueprint board meeting, city and county commissioners green-lighted the study. FSU has agreed to pay for it and partner with the Tallahassee-Leon County Office of Economic Vitality for the next six months.

Once the study is completed, the Blueprint board will review the findings and determine whether to grant up to $20 million toward the long-discussed project, which will require bond financing as early as 2020. 

Changes made since the 2011 study? 

A 2011 feasibility study by HVS indicated the need for a convention center. However, the economic landscape has shifted with more hotels coming online or in the works downtown and near Gaines Street.  

"Once we have all of that data, we will know what is the real need for a convention center,” said Ben Pingree, director of PLACE, which stands for Planning, Land Management & Community Enhancement. "There’s a ton of change so we really need to know from the experts what is the modern day demand."

In a Sept. 4 letter to Pingree, FSU Real Estate Foundation Executive Director Kevin Graham outlines the university's plan to create an Arena District. Plans call for a convention center, a hotel and relocating the FSU College of Business. The design phase should be complete in the next 24 to 36 months. 

"We are very pleased with our commissioners' decision to fund the convention center in 2020," Graham told the Tallahassee Democrat. "Establishing the Arena District as a location for convention business will profoundly impact our community’s economic development platform."

In the letter, Graham talks of steps already made — ownership of the Tucker Civic Center in 2013, a groundbreaking in the next one to two years for the College of Business and plans for a hotel development independent of OEV and the Blueprint board. 

"FSU absolutely values a strong relationship with the City, County and Blueprint leadership," Graham wrote. "We have each made significant contributions, and together we will continue to support and promote economic growth in our community. Our respective obligations demand we remain the best stewards possible of the land and financial resources that have been entrusted to us. FSU is ready to move forward on the hotel and convention center development now." 

Agreement to see hotel with up to 300 rooms 

Graham said a hotel is a high priority. Letters between Graham and Pingree indicate an agreement to see a full-service convention hotel with up to 300 rooms and 50,000 square feet of convention space. 

Blueprint board members expressed overall support for the feasibility study. 

Snapshot of FSU's economic impact

$10 billion — economic impact statewide

$850 million — money spent by its students in the local economy

$25 million — investment in improving the Tucker Civic Center. 

14,000 people — number of employees

https://www.tallahassee.com/story/news/money/2018/01/01/dirt-vert-major-developments-watch-2018/955784001/

While construction won't begin anytime soon, FSU officials said the university is close to announcing a development partner to work on the district. Plans call for a convention center, a hotel and relocating the FSU College of Business. The design phase should be complete in the next 24 to 36 months.