Arena Renovation Capital Planning
Faced with aging infrastructure and a disjointed viewing experience, the NBA’s Atlanta Hawks decided to move forward with an extensive renovation of their Phillips Arena, an approach that would cost significantly less than demolishing and constructing an entirely new venue. The team took the opportunity to explore its seating offerings and additional revenue streams in the context of today’s arena trends.
Specializing in capital improvement planning for aging venues, B&D’s team of experts empowered the owner with a detailed analysis of the Atlanta marketplace, premium seat offerings and price points, and competitive context. With a comprehensive assessment and financial model in hand, the Hawks were able to evaluate renovation concepts, which depicted net new revenues and various return-on-investment levels.
The $200M renovation features several diverse types of seating, marking a shift in the way fans experience the game. The innovative seating and amenity offerings reflect the social way that people engage with sports as well as the changing fabric of Atlanta, with its rise in the tech industry. The upgraded State Farm Arena—renamed with the renovation—opened to the public in 2018.