City of Hartford, CT

Hartford,

New Ballpark Planning And Financial Analysis

The City of Hartford, Connecticut selected B&D in the fall of 2013 to explore the potential for constructing a ballpark in the city’s North End neighborhood. With the imminent relocation of a Class-AA minor league baseball franchise to Hartford, city leaders sought to develop a comprehensive development plan for the ballpark, which was conceived as part of a $350-million North End revitalization initiative. We studied the market for a new ballpark through an analysis of demographic data and business activity within a 45-minute drive-time radius of the ballpark site, while also surveying current trends in minor league ballpark design to define a facility program. We then assembled profiles of each ballpark in the Class-AA Eastern League, along with other select Class-A and Class-AAA ballparks that had been recently constructed. Next, an analysis of funding opportunities and financing models was completed. Additionally, we advised the city on key elements for inclusion in the development agreement between the ballpark’s owner and operator. Informed by anticipated capital and construction costs, we then developed a comprehensive financial model that included a 25-year operating pro forma. We determined that a new minor league ballpark in the North End would spur new revenue streams for the city and catalyze the area’s ancillary development. The $56 million ballpark broke ground in 2015 and is expected to open in 2016.