Rocky Mount Event Center: At the Center of a National Trend in Youth Sports, Generates $4.25 Million in Investment in 60 days

It's been a little more than a month since the new Rocky Mount Event Center officially approved its new logo and graphic identity, and it's still more than a year before the new facility will host its first event, but the new complex is already having an impact on the City of Rocky Mount. The vision for using the event center as a catalyst for revitalizing the downtown district and generating economic impact for Rocky Mount and the surrounding region is already exceeding expectations.

"The pace of the external development and re-investment by locals, along with growing excitement and energy around the Event Center, has eclipsed early projections," according to John Jesso, Downtown Development Manager who added, "Because of the City's Vision, Plan, and the determination to see it through, Rocky Mount is now at the verge of a transformation that will showcase a culturally diverse and economically vibrant downtown."

On the heels of recent commentary about the explosion of youth travel sports by Time Magazine and HBO's Real Sports series, which highlighted Rocky Mount's vision of leveraging its new Event Center to position itself a sports tourism, entertainment and events destination, there has been more than $4.25 million dollars of direct investment in 60 days*. This includes real estate purchases in the downtown area, encompassing a total of 200,000 square feet by multiple investment groups, as well as reinvestment from the local community. The figure does not include the pending purchase and redevelopment of Downtown Rocky Mount's Historic Hotel (estimated to top $8 million) and the additional $10-12 million that is estimated to be spent on development of the purchased assets.

* Source: Rocky Mount Downtown Development Office

"The commitment to the Event Center was a motivating factor for us," says Jesse Gerstel, a Principal with Largerco, a company who has purchased more than 10 buildings or approximately 2.5 city blocks. "We focused on the Five Points District because of its proximity to the new Event Center and the ability to capitalize on the traffic it will generate."

It should be said that other factors have also played into the confidence level of investors, including a commitment by CSX to build an Intermodal hub in Rocky Mount, as well as the continued investment by the Rocky Mount Mills. A planned mixed-use facility on the site of a historic cotton mill in Rocky Mount, that will play a pivotal role in adding value to the influx of sports tourism, events and entertainment from an experience standpoint. Once complete, Rocky Mount Mills will include 300,000 feet of office/mixed-use space, seven breweries, restaurants and more than 100 residential family homes and loft apartments.

According to Kimberly Thigpen, Founder/CEO of The Bath Place, a successful, locally owned and operated business located in the Douglas Building on Main Street, "My decision to move my business downtown, more than 5 years ago, was based on the Downtown Revitalization Project." Adding that "Even though the new Event Center hadn't been proposed yet, there was something about the vision, history and need to step-up and support the local community." As a mom who has lived the travel sports circuit, Kimberly said, "I've seen the power of sports tourism first hand — but I'm even more excited about what the Event Center project has done for the identity and pride of the Rocky Mount community."

Ben Braddock, one of the other primary real estate investors, as well as General Contractor, Operating Partner of Station Square located in Downtown Rocky Mount said, "The leadership by the city was a part of what made investing in Downtown Rocky Mount extraordinarily appealing and played a role in making my decision. Adding, "I am excited to be a part of the rebirth of Downtown Rocky Mount. The City of Rocky Mount's investment into Downtown has helped set the stage for other private investors, like me and plenty of others to redevelop these historic spaces. Within the next three to five years downtown Rocky Mount will again be a thriving historic downtown.  This is a very exciting time to be in Rocky Mount!"

The Rocky Mount Event Center is slated to open in the Fall of 2018 and will be managed by the industry-leading outsourced management firm, the Sports Facilities Management

Sports Facilities Management, LLC (SFM) and Sports Facilities Advisory, LLC (SFA) are both headquartered in Clearwater, Florida. SFA, founded in 2003, has produced more than $8 Billion in institutional-grade financial forecasts for youth and amateur sports complexes, while SFM provides industry-leading, results-driven management solutions for sports, fitness, recreation and event venues, nationwide. Since 2014, SFM-managed venues have hosted more than 50 million visitors. 
For more information, visit: www.sportadvisory.com

Inquiries:

• Booking the Rocky Mount Event Center: John McDonald | [email protected] 
•  Downtown Development: John Jesso | [email protected]
  

SOURCE The Sports Facilities Advisory and The Sports Facilities Management

Related Links

http://www.sportadvisory.com