Market Analysis Underway for Indoor Sports Facility in Elmhurst
Posted June 03, 2016 - 2:43pm
The Park Board and City of Elmhurst have hired Conventions, Sports & Leisure International (CSL) to conduct a market and financial feasibility study for an Indoor Sports Facility in Elmhurst. CSL, based in Minnesota, was selected from eight firms, of which five were interviewed by a joint panel of Park and City staff members. Both the Park Board of Commissioners and the City of Elmhurst Development, Planning, and Zoning Committee gave concurrence to staff to proceed with the hiring of CSL for the study and a contract was signed on May 5, 2016.
CSL will provide a comprehensive market demand and feasibility analysis for an Indoor Sports Facility in Elmhurst. The study effort will include a Market and Demand Analysis, Cost and Space Analysis and recommendations. The firm will be interviewing potential user groups, educational institutions, and business leaders to gain a thorough understanding of the market potential for aquatic, gymnasium, and indoor turf and ice facilities.
In addition, an online questionnaire will be available July 1 on both the Park District and City of Elmhurst websites to allow the public to provide input.
At the conclusion of the study and review of findings, scheduled for late August 2016, the City and Park District will determine what, if any, next steps are required. A key component in the study will be the possibility of the facility providing sufficient revenues to warrant development or, conversely, if additional tax funds would need to be raised to support partnering with other entities or organizations to fund or operate such a facility.
For more information about the study please contact Laura Guttman, (630) 993-8920 or email lguttman [at] epd.org.