City of Reading, Reading, Pennsylvania
CSL was retained by the City of Reading to evaluate minor league ballpark development options which included a potential renovation to FirstEnergy Stadium, current home of the Class AA Reading Phillies, or the construction of a new ballpark to be located downtown as part of a large mixed-use development along the riverfront. CSL toured the existing facility and proposed new ballpark site, met with City and team officials, reviewed the historical operations of the Reading Phillies, reviewed local market characteristics, surveyed local residents and companies to assess support for ballpark development options and compiled case studies of other Class AA ballparks. The feasibility study included a side-by-side comparison of the recommended building program, costs, demand, financial pro formas and economic impacts of each development option. A menu of potential ballpark funding options was developed and quantified.
Based on the results of the feasibility study, the community elected to undertake a $10 million renovation of FirstEnergy Stadium instead of building new. Renovations are expected to commence after the 2010 season and will be funded by the team and State.