Pollard on Cydline show?
- Thread starter TheHelgo
- Start date
That is why I thought if we only did the lower bowl on the south, the 2 North Hills and the some concession stands/Restrooms with the A/V stuff I don't see it costing too much. (yes I know its still a lot of money) I think having the upper deck, and the suites really drive up the cost. The problem is...installing suites help pay off the renovations. But like stated above why does it cost so much to just add on to places that don't involve demolition (for the most part) Maybe the $65 Million is over the top b/c its better to ask for the most you can get at first?
I guess either way we still don't have a donor.
Edit:
Here is another recent stadium..
Loiusville built this stadium for $78 They have actual chairs for each person in the stadium.
http://www.collegegridirons.com/bigeast/CardinalStadium.htm
Then it looks like a couple years ago they started this project also.
In November 2006 the Louisville Athletic Association Board of Directors approved a $72 million expansion that will increase the capacity of Cardinal Stadium to 63,600. (from 42,000) This expansion is to be complete by the 2010 season, will include 2,000 luxury seats and 45 luxury suites on the east side. The current grandstand will be extended to the ends of the Howard Schnellenberger Football Complex and an upper deck will be added to the east grandstand. In order to pay for this expansion, the school will raise $30 million in private donations and issue bonds of $35 million.
So your telling me Louisville can put in 45 Suites, 2,000 luxury seats and Grandstand for 20,000 plus some other odds and ends for $72 Million and we need $65Million for a South Endzone on top of $32 Million for the 24 Suites, Club and concourses?
EDIT:
Found another. Standord build 50,000 - 90 Million
http://www.collegegridirons.com/pac10/StanfordStadium.htm
I must really be hell to renovate versus build new.
I guess either way we still don't have a donor.
Edit:
Here is another recent stadium..
Loiusville built this stadium for $78 They have actual chairs for each person in the stadium.
http://www.collegegridirons.com/bigeast/CardinalStadium.htm
Then it looks like a couple years ago they started this project also.
In November 2006 the Louisville Athletic Association Board of Directors approved a $72 million expansion that will increase the capacity of Cardinal Stadium to 63,600. (from 42,000) This expansion is to be complete by the 2010 season, will include 2,000 luxury seats and 45 luxury suites on the east side. The current grandstand will be extended to the ends of the Howard Schnellenberger Football Complex and an upper deck will be added to the east grandstand. In order to pay for this expansion, the school will raise $30 million in private donations and issue bonds of $35 million.
So your telling me Louisville can put in 45 Suites, 2,000 luxury seats and Grandstand for 20,000 plus some other odds and ends for $72 Million and we need $65Million for a South Endzone on top of $32 Million for the 24 Suites, Club and concourses?
EDIT:
Found another. Standord build 50,000 - 90 Million
http://www.collegegridirons.com/pac10/StanfordStadium.htm
I must really be hell to renovate versus build new.
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Re: Guaranteed if
The difference is,I believe they already have all of the money donated for this project.
The difference is,I believe they already have all of the money donated for this project.
Re: Guaranteed if
I was scratching my head, too, about the $60 million figure, until you stated this point.
To add to JP's comment about the $60 million figure, he said something about a $5 million annual debt service for 20 years (I failed to mention the 20 years part when I paraphrased JP . . . did anyone else here mention it?). That adds up to, uh, let's see, I've got 20 fingers and toes, ah . . . yeah, that's $100 million.
That can't all be interest, can it? $100 million interest plus $60 million building costs, $160 million? That can't be.
Maybe JP meant a combined cost-interest of $5 million per year for 20 years . . . that's still $100 million.
JP was answering a question off the cuff, maybe he meant $60 cost and interest over 20 years, or $3 million per year for two decades?
Hope JP is on the call-in show Monday, it would be good to get him to clear this up for we interested fans.
I was scratching my head, too, about the $60 million figure, until you stated this point.
To add to JP's comment about the $60 million figure, he said something about a $5 million annual debt service for 20 years (I failed to mention the 20 years part when I paraphrased JP . . . did anyone else here mention it?). That adds up to, uh, let's see, I've got 20 fingers and toes, ah . . . yeah, that's $100 million.
That can't all be interest, can it? $100 million interest plus $60 million building costs, $160 million? That can't be.
Maybe JP meant a combined cost-interest of $5 million per year for 20 years . . . that's still $100 million.
JP was answering a question off the cuff, maybe he meant $60 cost and interest over 20 years, or $3 million per year for two decades?
Hope JP is on the call-in show Monday, it would be good to get him to clear this up for we interested fans.
If you look at the PDFs that were posted here (by jaretac?) at one point, you'll see that that particular plan involves basically reworking four current sections of permanent seating (15, 16, 17, 18) in order to get the curvature right and have the end zone seats be closer to the field. It's not as simple as just construction. There's a significant amount of demolition that needs to occur as well.
Re: Guaranteed if
$5 million per year debt service for 20 years is $100 million total...$60 mil for the renovations and $40 mil for interest. Sounds about right.
$5 million per year debt service for 20 years is $100 million total...$60 mil for the renovations and $40 mil for interest. Sounds about right.
GREAT POST! This is my thought as well. Why not start with the lower portion and then add-on?
The frustrating thing is that the original design of the stadium was simply not good for the location. The stadium should have been built as a single-level bowl. The problems with the wind and the overall aesthetic look of the stadium should have eliminated the design that was chosen.
One other thought on this - Gene Smith had $10-$12 MM of committments in hand to begin the work on this. Then he left and BVD cut the project as one of his first moves. Granted, having a BB practice facility underneath didn't sound too great to me, still the end zone would have been bowled in.
Re: Guaranteed if
If you amortize a loan of $60 million for 20 years at 5% interest, the annual payment is $4.8 million.
I hope to hell that JP never sticks us with long term debt like that. It would be like making our athletic department carry an anvil around for the next 20 years. We should not start a major building project of this magnitude unless we have at least half of the money up front from donations. In the short run, it doesn't really matter. We sure as hell aren't going to be spending a dime on football stadium renovations when state employees (including ISU) are facing massive layoffs, regardless of whether the funding is public or private.
If you amortize a loan of $60 million for 20 years at 5% interest, the annual payment is $4.8 million.
I hope to hell that JP never sticks us with long term debt like that. It would be like making our athletic department carry an anvil around for the next 20 years. We should not start a major building project of this magnitude unless we have at least half of the money up front from donations. In the short run, it doesn't really matter. We sure as hell aren't going to be spending a dime on football stadium renovations when state employees (including ISU) are facing massive layoffs, regardless of whether the funding is public or private.
If its about money, I don't disagree. But its not about money, its about a football program, so I respectfully disagree. I guarantee more ISU fans would show up November 28th than K-state fans. That gives us a homefield advantage which we were lacking in Kansas City. Does that give us a win? Maybe not, but it is easily a possibility that we win if that game is in Ames. What if we end up with 5 wins this year? Would a 6th win and possible bowl be better than that game in Kansas City where we got some money that will help the whole athletic department run? You never give up a home game. This may not be a good example, but I guarantee that Nebraska would probably give us at least 2 million to play our game in Ames next year in Lincoln. Should we? No way. To build a program, you need wins and bowls, not extra money so that the womens basketball team can get better stuff. Some of you talk about bowling in the south endzone to get respect. How do you think it looks to give away a home game for $? Don't want to beat a dead horse, but just had to say something when people say that was a great idea. I respectfully disagree. Maybe I'm wrong, but I bet we win that game in Ames--that would be way bigger than 1 million or whatever we pull in from Arrowhead.
Maybe more monster truck racing events and WWE cage matches need to be held at Trice to pay for the renovations. I could see someone jumping off the upper deck into the steel cage, why not in Ames?
Stanford went from a capacity of 85,000 in the old stadium to 50,000 in the new stadium. The original one was built in 1921 though, so I suppose in this case it was probably easier and more cost-effective to just start over.
What boggles my mind is that they tore down the old stadium after the 2005 season, built the new one in the same spot, and had it open for the start of the 2006 season. I guess when you don't have to worry about below zero temps in Dec/Jan, you can get a lot more work done.
I think that 60 million sounds about right for what pollard wants to do with the south endzone.
Face it boys and girls, it takes big bucks to bowl in a stadium, add a concourse and suites for the rich and famous...
Earle Bruce wanted to bowl in the endzone in 1976, back then you could have probably done it for a couple million dollars seeing the sides only cost 7.6 million!!!!
That mistake(not doing the south end zone) ranks right up there with NOT hiring bill snyder as football coach!!!
I apologize if this has been mentioned. I wonder how the economy has affected the price tag of this project. Builders would LOVE to have a project like this right now and I can't help thinking that negotiations aren't possible. With that said, we need a donor(s)...
I would think the price would have come down, as builders are willing to bid lower just to get the work. Of course, don't we kind of have a wink/wink agreement with a particular builder now though anyway, and maybe that is part of the problem.
Anyone else shocked the resident 'Sconnie comes up with this funding solution? :biglaugh:
It's open space between the lower and upper. They need more ADA (wheelchair) seating areas, and will have to use the top of just about each end-zone section to get close to fulfilling the ADA requirements.
What were the respective costs of the East and West remodels? Each was in the teens wasn't it? I thought the suites and concourse remodel on the west alone was priced at $19MM.
Given that number, doesn't shock me that an estimate of $60MM for the south endzone. There were plans for multi-purpose facilities underneath and stuff like that too, weren't there? I do recall some talk of suites there as well.
Given that number, doesn't shock me that an estimate of $60MM for the south endzone. There were plans for multi-purpose facilities underneath and stuff like that too, weren't there? I do recall some talk of suites there as well.