Longwood University / Prince Edward Development

Farmville,

Events Center Market Study

In 2011, Prince Edward Development, LLC selected B&D, in association with HKS and WM Jordan, to analyze the feasibility of a new events center in Farmville, Virginia. The proposed 3,600-seat facility would be part of a mixed-use development that would house Longwood University’s men’s and women’s basketball teams. Our scope of work included a comparable facility analysis, competitive market analysis, premium seating analysis, and financial analysis that included the development of an event calendar, outline program, development budget, and 10-year pro forma. We recommended a market-responsive seating capacity of 3,500, expandable to 4,000, with a hospitality lounge and two luxury suites. We projected that the event center could host approximately 66 events annually, focusing on Longwood University as an anchor tenant and attracting regional high school events, concerts, and various flat floor shows.