Andrea Austin and Franklin D.R. Jones Jr. were quoted in a Law360 Real Estate Authority article titled "The Legal Work Behind Building A Successful Sports District," about the growing trend of sports-anchored mixed-use developments.
Discussing the growing emphasis on fan experience, Austin highlighted the value of creating spaces “where families come and have a good experience and play some cornhole before they go inside the stadium,” noting that “These are all components of how people are more expansively thinking about how venues drive community engagement and fan engagement, and money follows that.”
Noting that teams and venue operators are seeking new sources of revenue beyond ticket sales and events, Jones said, “How do you generate more revenue to take care of all the things you have to take care of when you're running a professional team: player salaries, staffing, operation and maintenance, upkeep of the building itself? … All of those things also drive the need for having the additional space and revenue-generating power around the buildings.”
LINKS
Read "The Legal Work Behind Building A Successful Sports District". (subscription)