Goodbye Spectrum?

Started by BigEd76, January 13, 2008, 06:55:16 PM

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BigEd76

DelcoTimes

QuoteShopping for the future
Comcast-Spectacor looking into possibilities of developing entertainment complex in South Philadelphia.
By Anthony J. SanFilippo asanfilippo@delcotimes.com


PHILADELPHIA — Comcast-Spectacor is on the verge of announcing a plan to develop a multi-million dollar entertainment complex in South Philadelphia that could eventually lead to the demolition of the Wachovia Spectrum, the Daily Times has learned.

The Baltimore-based Cordish Company, a real estate development giant, has offered several proposals to Comcast-Spectacor that are still being considered.

The most attractive proposal would result in a complex called "Philly Live!" which would incorporate land development for such ventures as restaurants, retail shops, condominiums, small music venues, a movie theatre and other entertainment outlets in and around the stadium area.

According to one source close to the negotiations, a public announcement is expected before the end of January.

Comcast-Spectacor President and Chief Operating Officer Peter Luukko confirmed that discussions are ongoing and that several plans for the new development are being considered.

Comcast has worked through a "series of proposals" with this development project, Luukko said.

"We've had discussions with Cordish to look at some development proposals and they're still ongoing," he said.

Luukko would not comment on the possible demolition of the Spectrum, but said part of the proposal discussions did include the Spectrum site. Luukko stressed nothing had been finalized or decided with the proposals involving the Spectrum.

According to a Philadelphia business community source, one of the Cordish proposals would include the construction of an ultra-chic W hotel, owned by Starwood Hotels and Resorts Inc., which would be built where the Spectrum currently sits.

Comcast-Spectacor is mulling over that proposal while it decides whether a hotel or the 42-year-old Spectrum would be a more viable source of revenue for the company.

That analysis would also include determining if Comcast would rather continue to house the American Hockey League's Phantoms and the Major Indoor Soccer League's Kixx, or find a new home for both.

Comcast-Spectacor owns the Phantoms, but does not own the Kixx. All other events would be absorbed by the Wachovia Center. The Spectrum currently averages about 125 event dates per calendar year.

The Kixx and other MISL teams have struggled to hook on as a popular sports entertainment option in various U.S. markets.

Conversely, the Phantoms, with a history of sold-out games and two Calder Cup championships on their corporate resume, could be considered an attractive commodity for several markets in the region, including Trenton, N.J., and Atlantic City, N.J.

Comcast-Spectacor officials have not indicated whether they were pursuing such options.

Nevertheless, the belief is that a development of this nature would be a boon not only to the city, but anyone who ventures into the stadium vicinity.

"With the new ballparks and the fact that there's more housing down here, the landscape has changed," said Luukko. "And we feel there's a need for a project like this not only for our fans, but for the community around us with restaurants, retail and a fun place to go both day and night."

During construction of the Wachovia Center in 1996, Comcast-Spectacor struck a deal with the City of Philadelphia for exclusive negotiating rights for corporate land development at the stadium multiplex.

The deal gave Comcast a window of 20 years to develop a 300,000-square foot parcel of land that includes the Spectrum site.

It's believed the project has been reviewed by officials from the Phillies and Eagles, and members of the city's political community have also been briefed, with one prominent politician apparently liking what he saw.

"He saw a brief presentation from Comcast-Spectacor and that's been the extent of his involvement," said Gary Tuma, a spokesman for State Sen. Vincent J. Fumo. "He said it looked nice."

Tuma said Fumo didn't have a "blanket opinion" about what should or shouldn't be done with the property, but that it would depend on what the final proposal might be.

A message left with a spokesman for Philadelphia City Council chairwoman Anna Verna, who represents the district in and around the stadium complex area, was not returned.

Newly minted Philadelphia Mayor Michael Nutter and U.S. Congressman Robert Brady also couldn't be reached.

The Cordish Company is one of the leading development firms for this particular brand of commercial endeavor and has built similar projects in other cities, including "Power Plant Live!" in Baltimore's Inner Harbor area; "Fourth Street Live" in Louisville, Ky.; "Daytona Live!" outside Daytona Motor Speedway in Daytona, Fla. And "Paradise Live!" and the Seminole Hard Rock Café Casino in Tampa, Fla.

The company is also involved in constructing "Woodbine Live!" at Woodbine racetrack in Toronto and "Ballpark Village" in St. Louis. While the cost of these projects vary from an estimated $35 million in Baltimore to $750 million in Toronto, the Comcast-Spectacor project, with a hotel, could eclipse the $100 million plateau.


A message left for a Cordish spokeswoman went unreturned.

Cordish has also developed several other shopping-based projects that include, "The Walk" in Atlantic City, "The Boulevard at Capital Centre" in Landover, Md. and the factory outlets in Ocean City, Md.


Seabiscuit36

farg that.  Talk about comcast ruining a legend
"For all the civic slurs, for all the unsavory things said of the Philadelphia fans, also say this: They could teach loyalty to a dog. Their capacity for pain is without limit." -Bill Lyons

PhillyPhreak54

Well, conversely, that area needs something like that. Most sports complex areas in the country have night life type spots close so there are other things to do after the games other than sit in traffic.

SunMo

that area has that...it's called the tailgate of my truck with a cooler
I'm the Anti-Christ. You got me in a vendetta kind of mood.

PoopyfaceMcGee

Putting the Phantoms in AC would be dope.  Gambling and minor league hockey go together like lamb & tuna fish.

ice grillin you

i know its inevitable but that would make me more sad than the vet going down...i grew up at that place
i can take a phrase thats rarely heard...flip it....now its a daily word

igy gettin it done like warrick

im the board pharmacist....always one step above yous

Susquehanna Birder

Wasn't there similar talk about a shopping/nightlife area when the Linc and/or CBP were in the planning stage? I'm beginning to think that such talk is just used for pulling the wool over the public eye.

Cerevant

I'd be sad to see the Spectrum go, but it is getting a bit long in the tooth.

That being said, if they think the Phantoms will get the draw in Jersey that they get in Philly, they are nuts.  It would make more sense to move them to the 'burbs somewhere.  Maybe even Allentown.
An ad hominem fallacy consists of asserting that someone's argument is wrong and/or he is wrong to argue at all purely because of something discreditable/not-authoritative about the person or those persons cited by him rather than addressing the soundness of the argument itself.

SunMo

I'm the Anti-Christ. You got me in a vendetta kind of mood.

MDS

Only Romes go to Souderton.
Zero hour, Michael. It's the end of the line. I'm the firstborn. I'm sick of playing second fiddle. I'm always third in line for everything. I'm tired of finishing fourth. Being the fifth wheel. There are six things I'm mad about, and I'm taking over.

SunMo

yeah, if they want to get lynched
I'm the Anti-Christ. You got me in a vendetta kind of mood.

reese125


MDS

It's ok, he doesn't know any better. Being from a backwards place like that will farg you up for life.
Zero hour, Michael. It's the end of the line. I'm the firstborn. I'm sick of playing second fiddle. I'm always third in line for everything. I'm tired of finishing fourth. Being the fifth wheel. There are six things I'm mad about, and I'm taking over.

Cerevant

Look what it did to me - I moved to Canada and consider it an improvement.
An ad hominem fallacy consists of asserting that someone's argument is wrong and/or he is wrong to argue at all purely because of something discreditable/not-authoritative about the person or those persons cited by him rather than addressing the soundness of the argument itself.

BigEd76

Implosion next summer

a regular season Sixers game and a preseason Flyers game will be played there, and the Phantoms will move to Atlantic City for a few years until a new arena is built in Allentown