Pro Football Hall of Fame Financing Opportunity

Wednesday, August 2, 2017

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the developer, is working to secure senior and subordinate construction financing for the development of the Johnson Controls Hall of Fame Village, a three-phase, approximately $750 million redevelopment of the Pro Football Hall of Fame (“PFHOF”) in Canton, Ohio. The construction financing request is to assist in the capitalization of eight components, which will sit on 120 acres surrounding the current Pro Football Hall of Fame Museum

For more than a half century, the Hall of Fame has served as a one-of-a-kind attraction, honoring professional football – its legends, its history, its core set of values. Building on this rich history, the master plan for the new Johnson Controls Hall of Fame Village represents a bold vision forward into the future that shapes a powerful transformation of the Hall of Fame as a destination and as an economic generator. The Johnson Controls Hall of Fame Village is a mixed-use entertainment complex in Canton, Ohio, on approximately 120 acres surrounding the Pro Football Hall of Fame, including significant parcels of land owned by the Canton City School District at the historic McKinley High School and the current home of the Canton Symphony. Since its inception in 1963, the PFHOF has grown to its current size of 112,000 square feet, attracts nearly one million visitors a year and has 11 nationally televised events, including the annual first preseason game for the National Football League.

The Johnson Controls Pro Football Hall of Fame will be developed into a national attraction, providing families and individuals the opportunity to spend time exploring the Hall of Fame Experience, the Pro Football Hall of Fame Museum and Hall of Fame Way, in addition to attending popular concerts with notable entertainers and competing in junior football tournaments – it will be the Disneyland for Football Fans! The Johnson Controls Pro Football Hall of Fame will host the Pro Football Hall of Fame Enshrinement weekend in addition to the National Football League (“NFL”) Weekend “0,” which the NFL has committed to playing for the foreseeable future.

Phase I comprises four parts: stadium, hotel, office building and athletic fields. The 25,000-seat Tom Benson Stadium, named on Forbes list of “13 Game-Changing NFL Stadiums,” will host the annual NFL enshrinement weekend, which welcomes new Hall of Famers to the elite group of players and serve as an elite concert venue. The Four-Star Hilton Curio Hotel will consist of 243 rooms, conference space and retail. Included among the football-themed boutique hotel’s 243 rooms are 11 suites and one presidential Commissioner’s Suite; an indoor swimming pool; fitness center; spa; business center; coffee shop; lobby bar and restaurant. The Center for Excellence will be a 139,367-square-foot office building designed to have areas devoted to medical research and corporate offices. The center is pre-leasing space, with several tenants already committed. Featuring a modern glass and brick façade, the Center of Excellence will be adjacent to the west end zone of the stadium and will be the heart of operations for the Hall of Fame Village. Additionally, there will be a small retail space designed to create further synergy with Hall of Fame Way (see below) and the Curio Hotel. Additionally, eight state-of-the-art turf youth fields that will be multi-purposed, lighted and equipped with the latest technology and video capabilities are part of Phase I.

Phase II includes the Hall of Fame Way main street retail corridor, which will also have multi-family housing constructed above the retail space. With various dining and retail options, the area is within walking distance to the hotel and frames the through-way leading to stadium. This synergy created in the center of the project will connect various parts of the campus and serve to further energize the local and national draw to the site. The other component of Phase II is the Hall of Fame Experience and Waterpark, the only destination in the world that allows visitors an immersive journey into the great game of football. The Hall of Fame Experience and Waterpark is a 250,000-square-foot indoor themed destination that invites fans of the game of football to enter as “walk-on players” and follow the path to becoming “Hall of Famers.” The experience is more than an incredible themed destination; it’s an open invitation to the world to come and share in the feeling and emotion of all facets of the game. In the Hall of Fame Experience, individuals will go through a sequence of events that will have projection mapping, displays and sounds, which will emulate an NFL combine, inclusive of coaching, a 40-yard dash, field-goal kicking, quarterback challenge and hand-eye coordination drills – all against Hall of Fame football players.

Phase III consists of the performance center and arena and an independent living and assisted living facility. The Performance Center will be approximately 135,000 square feet and replace the Canton Civic Center, thus allowing the region to provide modern convention facilities to the market. It will also be configured with a full-size turf football field that will be able to host year-round athletic events, such as the NFL Player Combine. A 5,000-seat basketball court has been designed in one of the end zones with movable seating. Legends Landing will be an independent living and assisted care facility with NFL-themed housing offering care to both community members and former NFL players. The 150-unit facility has a 2019 projected opening.

For more information on Johnson Controls Hall of Fame Village financing opportunities, please contact Jeremy Womack or Tim Brousse in HFF’s Phoenix office or Mark Popovich in HFF’s Pittsburgh office. To view HFF’s current real estate investment listings, please click here to be directed to HFF’s property search page.

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