Renovations at Carver-Hawkeye Arena a go
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By Steve Batterson | Thursday, June 12, 2008 |
Approval Thursday by the Iowa Board of Regents allows the University of Iowa to move forward with the planned $47 million renovation and expansion of Carver-Hawkeye Arena.
Meeting in Ames, Iowa, Regents approved the schematic design, budget and financing plan that will add fan amenities and construct additional practice and weight-training facilities at the 25-year-old facility.
“To say that our staff and coaches are excited or that our student-athletes are excited would be a tremendous understatement,’’ Iowa director of athletics Gary Barta said.
Iowa basketball coach Todd Lickliter called the improvements, which are scheduled to be completed in the fall of 2011, a necessity for Hawkeyes programs.
“For us to maintain a competitive Big Ten program, it is imperative that we have first-rate facilities,’’ Lickliter said.
“A practice facility will only benefit our players as they work to improve their skills.’’
Facilities including two new practice gymnasiums, renovation of the Iowa wrestling practice room and expanded weight-training facilities.
The four-story addition will attach to the north side of the existing arena.
The exterior is designed to complement the architecture of the existing structure.
Plaza entry levels will be developed at both the first level of the addition and the fourth level of the existing structure.
Improvements for fans include new concessions and restroom facilities, installation of an additional elevator to move fans from the current fourth-level entry points to the court level.
Two rows totaling 100 courtside seats and an additional 550 club seats will be added at the lowest levels, providing access to a new event-level club area to be built near the court-side tunnel.
The event-level club and another similar facility to be built on the fourth level will be used for pre-event gatherings and other athletic functions.
Courtside seat pricing for men’s basketball includes a 10-year commitment of $10,000 per seat in the first row and $5,000 per seat in the second row. In addition, for five years fans will provide a gift of $15,000 per seat in the first row and $7,000 per seat in the second row.
Seating for men’s basketball in the club seat areas will cost $1,000 per year for 10 years, plus a minimum gift of $1,500 per seat for five years.
The revenue model that will be presented to Regents includes 300 club seats for wrestling events that will be sold at $500 per seat, providing seating close to the mat and access to the club areas.
Combined revenue from the two areas is projected to raise $3 million annually for the first five years and $1.3 million annually in the second five years to help fund the project.
At least an additional $900,000 per year is expected to be generated through a priority seat gift program that will give better seats to fans who meet priority donation requirements.
Fans who already donate to secure priority seats for football at Kinnick Stadium would have that dollar figure credited toward their basketball seats.
A capital gift campaign is also planned to raise $20 million.
Steve Batterson can be contacted at (563) 383-2290 or sbatterson@qctimes.com. Comment on this story at qctimes.com.
By comparison
With renovation plans approved, Iowa joins six other Big Ten schools in offering premium courtside and club seating for men’s basketball games.
Rates charged range from a low of $2,423 at Ohio State to a high of $25,694 at Indiana. The average at the six schools with courtside seating is $9,825.
Three other Big Ten schools have or plan to have club seating, ranging from $200 at Northwestern to the planned fee of $2,488 at Purdue. The average amount of the three is $1,650.
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