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CRDA updates subcommittee on Excel Center renovation and Rentschler Field maintenance needs
Summary
Capital Region Development Authority told the subcommittee it is mid-construction on Excel Center renovations and expects to seek funding for a multi-year program to modernize Rentschler Field; CRDA said the Excel Center will complete events in May and reopen in October after back-of-house and seating work.
The Capital Region Development Authority (CRDA) briefed the Finance, Revenue and Bonding subcommittee on renovation and maintenance needs for the Excel Center, Rentschler Field and other venue-related assets.
Excel Center renovation
CRDA Executive Director Mike Fremont said the Excel Center is under active renovation while still hosting events, with a planned pause in events around May to allow more extensive work during summer months. Fremont said the work includes locker-room upgrades, kitchen and back-of-house electrical and plumbing systems, and improvements to seating that will support premium offerings such as suites and loges. The authority has a public-private arrangement with an operator (identified at the hearing as OBG) that will invest about $20 million and assume day-to-day operating deficit risk under the current arrangement, Fremont said. CRDA expects to reactivate the venue in October.
Rentschler Field needs
On Rentschler Field, Fremont said engineers recommended a multi-year renovation estimated at about $60 million to sustain and modernize the stadium over a roughly 10''' to 15-year horizon. Work underway includes roof repairs, IT and communications upgrades to support modern events and improved locker rooms to diversify use. Fremont said average attendance for the primary tenant (the university football program) has been below the breakeven threshold needed to cover annual operating costs and that additional event bookings such as professional soccer have become an important revenue generator.
Parking and neighborhood considerations
CRDA continues to manage nearly 18,000 parking spaces and said ongoing maintenance for garages is a continuing capital need. Committee members asked about traffic and egress concerns at Rentschler Field; Fremont said traffic management and DOT cooperation are important but that many routes out of the stadium pass through residential areas, so local traffic management and police coordination are central to event planning.
Quotations
"We are under construction. We're behind the house now since we're still running events," Fremont said of the Excel Center work. On Rentschler Field, he summarized the engineering recommendation: "We recommended a $60,000,000 renovation to build in scribe out over 5 years."
Follow-up and next steps
CRDA said it will continue to pursue the Excel Center renovation schedule and will seek funds to implement the Rentschler Field multi-year program; specific bond requests and phasing were discussed at a program level but no formal subcommittee vote occurred.
