Virginia Atlantic, LLC

Fairfax,

Ballpark Feasibility Study And Financing Plan

In 2003 B&D was selected by Virginia Atlantic, LLC to complete a feasibility study for an independent league ballpark in Fairfax County, Virginia. This unique project considered the construction of a new ballpark on the George Mason University campus that would be shared by its baseball team and an independent league team. Within minor and independent league baseball, Fairfax County was uniquely positioned because of its proximity to Washington, DC, which was demographically and economically Major League Baseball caliber and was seeking a franchise at that time. While potentially sharing the greater baseball market with a Major League franchise, this region also supported three affiliated minor league baseball teams competing at the Single-A and Double-A levels. Operating in the adjacent Prince William County, the nearest franchise was the Single-A Potomac Cannons. We completed a market analysis and found that, despite the existence of other professional baseball teams, the market was more than competitive with other independent league markets and the demographics were overwhelming. The Fairfax County population was bolstered as a professional baseball market, since the population data atypically converted to a high number of households. Additionally, the county household wealth was among the highest in the nation. Interestingly, a comparison of the county to the 14 most similarly sized metropolitan markets revealed that each of the 14 markets hosted professional baseball up to the Triple-A level. With our market analysis complete, we continued working with Virginia Atlantic and George Mason University through the development of a detailed financial analysis and an outline financing plan.