A Permanent Arena Vision for Santa Cruz

Victus Advisors conducted a feasibility study to guide plans for a new 3,500-seat mixed-use arena in the heart of downtown.

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Client
City of Santa Cruz (Calif.)

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Sector
Public Sector

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Project
Market Demand & Financial Feasibility Study for a Permanent Mixed-Use Arena

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Year
2016

Client Challenge

The City of Santa Cruz was evaluating the viability of a permanent multi-use arena in the heart of downtown. 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 feasibility study covering 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 delivered a clear roadmap for the City, including a recommended 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 approaching $400,000. The work equipped Santa Cruz with defensible data to advance planning and funding discussions for one of Northern California's largest small-city downtown venue projects.