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CyTown Announcement - Monday 9/19 (Links in OP)

cyIclSoneU

cyIclSoneU

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theshadow said:
It was in his budget letter/update two years ago, when he thought they were looking at a $35M+ deficit due to COVID.

3. Closing C.Y. Stephens' Auditorium
The revenues generated from community members attending performing arts at C.Y. Stephens' are simply not enough to cover the costs of facility operations. The university has been subsidizing operations at Stephens' Auditorium at nearly $1M annually. In addition, the facility has significant deferred maintenance issues which would require another $25M to $50M to bring the building up to today's standards. As a result of the significant financial challenges facing the university and the athletics department, we are recommending that C.Y. Stephens' Auditorium be closed indefinitely and future shows cancelled.
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Right, it was longer ago than I remembered.

I understand financially why Athletics runs it, but I also understand why an Athletics Director would put it at the bottom of his priority list.

Every project he green lights that isn’t related to football or men’s basketball will lose money. You didn’t see him talk about shutting down the softball team because their new stadium would be a net loss.

But that’s because he is an Athletics Director and that is athletics. CY Stephens is not athletics (duh).

Seems like the temperature got hot on the CY Stephens issue and JP backed off, thankfully
 
ribsnwhiskey

ribsnwhiskey

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Linusvanp3lt said:
You're proving my point. Some businesses are pushing employees to sometimes be in person? Compare that to previous all employees in office every day, doesn't that make being in business of office space far less attractive? Look up some office space REITs recent performance. With interest rates, costs doubled, and tenets fell, and knock on spend of tenets fell which made support business/restaurant occupancy fall.
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CY9008

CY9008

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ZRF said:
This.

Creating a space for temporary infrastructure like beer gardens, food trucks, tailgate zone, etc. requires a lot less investment and carries a lot less risk. As mentioned KCP&L is a ghost town the majority of the year. When it's not its usually because there is an anchor event...Hot Country Nights, Big 12 Tourney, St Paddys day, a big game watch....that's bringing people there. EVERY local abhors most of the establishments that are there. They are either generic bars or terrible fits for the local culture (Leinenkugel's was a terrible move). Most would rather go to Waldo or even Westport where there are more genuine establishments to chose from.

Ultimately I think this idea is a waste of money and risks the cannibalization of the new businesses and established businesses. Some people who used to go elsewhere will go to the new district, hurting old business. There isn't enough localized demand or events for that area to make this one sensible. Too many examples of developers selling a concept that never had the local demand for its existence.

Pollard has been the best AD Iowa State has had by leaps and bounds and is usually on target with most of his ideas. This one completely misses the mark.
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Yes, I much prefer breaking even on some food trucks instead of millions in revenue on groundbreaking suites and a revitalizing effort of the heart of Ames/University.
 
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ZuriCyclone

ZuriCyclone

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Parking is not a problem, we can create Remote parking locations and connect it with Cyride.

Already concentrating the parking around the stadium is huge mess on gameday. need to decentralize the parking locations.

This Cytown is going to be amazing, get a lot of family traffic during the offseason and create new cyclone fans.
 
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GMackey32

GMackey32

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cyIclSoneU said:
Right, it was longer ago than I remembered.

I understand financially why Athletics runs it, but I also understand why an Athletics Director would put it at the bottom of his priority list.

Every project he green lights that isn’t related to football or men’s basketball will lose money. You didn’t see him talk about shutting down the softball team because their new stadium would be a net loss.

But that’s because he is an Athletics Director and that is athletics. CY Stephens is not athletics (duh).

Seems like the temperature got hot on the CY Stephens issue and JP backed off, thankfully
Click to expand...
If Jamie didn't take it over, it was going to die anyways. The City of Ames and its residents enjoy all of the extras Iowa State brings to their community but want no part in helping fund it. So Jamie bluntly told them how its going to be.
 
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BCClone

BCClone

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Not exactly sure.
I'm doubting this is a one year build. Assuming it is kinda in phases. I know the underground is first, which also helps the water situation in the parking lots also so it's a win/win with that. Would guess the hotel would be the next thing happening. Get the parts that will hammer out revenue first and be the most helpful throughout and then keep building.
 
RLD4ISU

RLD4ISU

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BCClone said:
I'm doubting this is a one year build. Assuming it is kinda in phases. I know the underground is first, which also helps the water situation in the parking lots also so it's a win/win with that. Would guess the hotel would be the next thing happening. Get the parts that will hammer out revenue first and be the most helpful throughout and then keep building.
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cyclones.com

CYTown

CYTown for Iowa State University Cyclones
cyclones.com


PROJECT TIMELINE

Phase 1​

  • Grading, Water, Sewer
    Start: January 2023 | End: July 2023
  • Parking Phase 1A & 1B
    Start: January 2023 | End: September 2023
  • Cyclone Alley Improvements
    Start: May 2023 | End: July 2024
  • Parking Phase 1C
    Start: January 2024 | End: August 2024

Phasing Map: https://cyclones.com/documents/2022/9/17/cytown_phasing_map.pdf
 
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drmwevr08

drmwevr08

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CascadeClone said:
I think that's a very glass half empty view. P&L does fine despite being empty much of the time.

As far as doing it on the cheap, with gravel, beer gardens, and food trucks... it would just look cheap I think. Not much more of a draw than any other bar in Ames except on gameday. It IS a lot of capex, but it sounds like they are getting some of that covered by donors in exchange for the suites - which they would probably be pretty sticky tenants on renewals in 20 years time. I don't think Jamie's green visor would be OK with a project that looked marginal at best; he'd be working to make it make sense.

I think the vision is brilliant. Nothing is guaranteed, but I think it will work and be a real differentiator for ISU. It's more likely to be a dynamic success than a boondoggle.
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What does 'fine' mean?
 
BCClone

BCClone

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Not exactly sure.
Frak

Frak

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ZRF said:
This.

Creating a space for temporary infrastructure like beer gardens, food trucks, tailgate zone, etc. requires a lot less investment and carries a lot less risk. As mentioned KCP&L is a ghost town the majority of the year. When it's not its usually because there is an anchor event...Hot Country Nights, Big 12 Tourney, St Paddys day, a big game watch....that's bringing people there. EVERY local abhors most of the establishments that are there. They are either generic bars or terrible fits for the local culture (Leinenkugel's was a terrible move). Most would rather go to Waldo or even Westport where there are more genuine establishments to chose from.

Ultimately I think this idea is a waste of money and risks the cannibalization of the new businesses and established businesses. Some people who used to go elsewhere will go to the new district, hurting old business. There isn't enough localized demand or events for that area to make this one sensible. Too many examples of developers selling a concept that never had the local demand for its existence.

Pollard has been the best AD Iowa State has had by leaps and bounds and is usually on target with most of his ideas. This one completely misses the mark.
Click to expand...

I think that you have a point on cannibalizing existing businesses. It will hurt Main St some. Campustown is so student focused that it won't be hurt. My opinion is that they are not banking on just local Ames people. They want to draw from the surrounding communities. No one is coming from DSM or Ankeny to go to Main St. IF they renovate Stephens and expand Scheman, then you have concerts and conventions that can sustain something like this with people that wouldn't be in Ames otherwise.
 
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Frak

Frak

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cyIclSoneU said:
Right, it was longer ago than I remembered.

I understand financially why Athletics runs it, but I also understand why an Athletics Director would put it at the bottom of his priority list.

Every project he green lights that isn’t related to football or men’s basketball will lose money. You didn’t see him talk about shutting down the softball team because their new stadium would be a net loss.

But that’s because he is an Athletics Director and that is athletics. CY Stephens is not athletics (duh).

Seems like the temperature got hot on the CY Stephens issue and JP backed off, thankfully
Click to expand...

I think that was an idle threat that he never seriously considered going through with. He was proving a point to the academics at the time. Gotta remember it was right in the middle of covid and some people were very upset about ISU having any fans in the stands. Crazy looking back now, but there were a ton of unknowns about the disease at the time.
 
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ribsnwhiskey

ribsnwhiskey

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Frak said:
I think that you have a point on cannibalizing existing businesses. It will hurt Main St some. Campustown is so student focused that it won't be hurt. My opinion is that they are not banking on just local Ames people. They want to draw from the surrounding communities. No one is coming from DSM or Ankeny to go to Main St. IF they renovate Stephens and expand Scheman, then you have concerts and conventions that can sustain something like this with people that wouldn't be in Ames otherwise.
Click to expand...

Speaking of Main Street, has there been any progress on that big project on Lincoln Way they tore the Mandarin and other buildings down for? Anyone?
 
cycloneG

cycloneG

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