IS IT TRUE? November 13, 2011
IS IT TRUE that the University of Evansville Purple Aces launched the regular season at Ford Center yesterday with a thrilling overtime victory over the two time defending National Runner-Up Butler Bulldogs?…that the Ford Center was once again filled to near capacity and that we have yet to hear any credible complaints about parking?…that the reports of full bars immediately before and after the events continue?…that to put a little perspective on that with the capacity as set by the fire marshal of all of the bars in downtown Evansville maximized it would take a stop at a bar by less than 3% of the people who attend a sold out event to pack all of the bars?…that filling up the barstools of only 3% of attendees is not test of anything with respect to real economic development from the Ford Center?…that the real test will be to see how many national or outside investor owned businesses are opened up in the first year because the demographics merit the investment?…that if at the end of three years that downtown Evansville has a 4th Street Live atmosphere with establishments such as Gordon Biershe, Howl at the Moon, TGIF, a 5 star restaurant, a upscale dance club, a real department store and even a full service grocery store that then we will be able to attribute these developments to the Ford Center because they were sure as heck not going to happen before?
IS IT TRUE that there are a few more very serious indicators of the power of the Ford Center as an economic development tool?…that losing an existing business in the first year on Main Street in any manner but acquisition by a stronger player would be a serious negative statement about the real foot traffic and staying power of Main Street?…that the other real test will be if in the next year that a major attraction project is closed where the president cites the Ford Center as a significant reason for the decision to come to Evansville?…that this does not mean a group of 4 that says that someday if the wind shifts correctly and the bed bugs don’t bite that they may have a big expansion?…that this is a real project with a large sum of outside money that creates more than 1,000 jobs because of the Ford Center?…that if a downtown Convention Hotel ever really happens with outside money and without shaking local government down for over 50% of the cost that would make a positive indicator?…that the CCO is skeptical but hopeful regarding downtown?…that we do wonder out loud how it is that our little sister across the river Owensboro is getting downtown hotels yet Evansville can’t even VET proposals?
IS IT TRUE that the Louisville has two old historic hotels?…that the Brown Hotel has 293 rooms and the Seelbach Hotel has 321 making a total of 614 rooms in historic hotels in Downtown Louisville to serve a metropolitan area of about 1.2 Million people?…that Evansville has an MSA population of just over 350,000 or about 30% of what Louisville has?…that just using that scale as a metric that one can learn that if Evansville can utilize historic hotel rooms at the same rate as Louisville that we can use 180 such rooms?…that we wonder if any serious consideration has been given to finding an investor to turn the McCurdy into the hotel that it was meant to be?…that it is the right size, is in a great location, and that as a hotel would be in a position to have much more revenue potential than it would with 90 apartments?…that at 180 room hotel at $100 per night has a revenue potential that is 500% higher than 90 apartments at $1,000 per month?…that if such a hotel had only 58% occupancy and the apartments had the typical 85% occupancy that the expected revenue would exceed that of the apartments by 250%?…that this is certainly worth considering as a refurbished McCurdy is within an easy walk of both the MLK Entertainment district and Casino Aztar?…that more importantly it would create a triangle that completely envelopes Main Street that has struggled for many years to get people down there?