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Cleveland's Epicenter of Entertainment

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Cleveland's Epicenter of Entertainment CLEVELAND’S EPICENTER OF ENTERTAINMENT PHOTOS: TREPAL PHOTOGRAPHY/CLEVELAND CAVALIERS PHOTOS: TREPAL OCTOBER 28-NOVEMBER 3, 2019 SPECIAL ADVERTISING SECTION I SPORTS BUSINESS JOURNAL 1A ROCKET MORTGAGE FIELDHOUSE: CLEVELAND’S EPICENTER OF ENTERTAINMENT ROCKET MORTGAGE FIELDHOUSE PHOTOS: TREPAL PHOTOGRAPHY/CLEVELAND CAVALIERS PHOTOS: TREPAL Creating a New, more connectivity to the brand the see Cavaliers or Monsters games, we company is using on a customer-fac- can cover the spectrum of interest.” State-of-the-Art Arena ing basis,” said Nic Barlage, president “We believe the Rocket Mortgage In July, Rocket Mortgage FieldHouse through a Total Renovation of business operations for the Cavs FieldHouse transformation is received its highest ranking from Walking into Rocket Mortgage and Rocket Mortgage FieldHouse. “It the most holistic renovation Pollstar, the concert industry’s leading was a unique convergence of oppor- trade publication, when it was ranked FieldHouse, guests are greeted by the of a major professional arena Power Portal, a dazzling display of tunities between the venue’s transfor- 27th of 200 top worldwide venues for video and sound that surrounds and mation and Quicken Loans’ rebrand- ever executed and will set the entertainment ticket sales (not includ- immerses them in one of the venue’s ing happening at the same time.” standard going forward.” ing sporting events). Additionally, the new signature experiences. The FieldHouse, which is owned by FieldHouse was ranked 11th in the U.S. This is just one highlight of the Cuyahoga County and the city of LEN KOMOROSKI for major concerts in 2019. recently completed two-year trans- Cleveland, has been a catalyst CEO I Cavs and Rocket “This ranking shows we have one of Mortgage FieldHouse formation to Rocket Mortgage behind nearly $2 billion in develop- the highest performing per capita FieldHouse, which was so all-encom- ment in Cleveland’s Gateway District. buildings in the world,” said Komoroski, passing that both new visitors and Home to 2,500 residents, Rocket “and six of the 11 U.S.-ranked venues returning guests alike will feel as if Mortgage FieldHouse, Progressive are in New York and Los Angeles.” they’re walking into a brand-new Field (Cleveland Indians), six hotels, experience. We’re also in the heart of “One of our primary goals was to venue, not one that’s 25 years old. unique stores and more than 60 res- the entertainment district and you put the FieldHouse on a path to make taurants and bars, the Gateway can’t replicate this type of location in it one of the best venues in the U.S. District is downtown Cleveland’s most an urban core.” and the world for the next 15 to 20 Renovating was Cleveland’s visited neighborhood, attracting more The 19,432-seat Rocket Mortgage years of its life span,” said Barlage. “To Answer for a New Venue than five million people a year. Twenty FieldHouse, which has generated do that, we transformed the entire years into a 30-year lease, rather than more than $650 million in state and building and fan experience.” Originally built at a cost of $152 build a brand-new venue at a stag- local tax revenue since its inception, With the venue’s renovation, the million (equal to $263 million today), gering cost, the Cavs worked closely and nearly $200 million a year in Cavs, whose previous lease was set to Rocket Mortgage FieldHouse opened with city, county and civic leaders to direct spending to the city and expire in 2027, extended their lease in 1994 as Gund Arena. In 2005, the create a more efficient model and county, is home to the NBA’s seven additional years, through 2034. building was renamed Quicken Loans transform their current structure from Cleveland Cavaliers and the AHL’s This commitment to play in the same Arena when Dan Gilbert, chairman the ground up. Cleveland Monsters. It also hosts more facility for 40 years is among the lon- and founder of Quicken Loans, “The bones of the building, the than 200 ticketed and 1,400 private gest in professional sports. acquired the Cleveland Cavaliers and bowl and the viewing experience are events and attracts more than two “Dan (Gilbert) is proud we have the venue’s operating and naming exceptional,” said Len Komoroski, CEO million visitors each year. one of the most public-friendly leases rights. With the transformation, the of the Cavs and Rocket Mortgage “Our events can attract every of any mid- to small-market team in building was renamed after the com- FieldHouse. “That’s always been a demographic,” said Barlage, “whether the NBA and in pro sports in general,” pany’s retail-focused brand, Rocket strength of the building. But, one of its you enjoy Metallica, Celine Dion, said Komoroski. Mortgage. weaknesses was the lack of public Travis Scott, want to bring your young “The venue’s new name creates space and the ingress/egress children to a family show, or want to SEE ROCKET MORTGAGE, PAGE 4A 2A SPECIAL ADVERTISING SECTION I SPORTS BUSINESS JOURNAL OCTOBER 28-NOVEMBER 3, 2019 ROCKET MORTGAGE FIELDHOUSE: CLEVELAND’S EPICENTER OF ENTERTAINMENT CLEVELAND’S MUST-SEE PROPERTY A stunning $185 million transformation makes this one-of-a-kind downtown location an absolute must-see, must-hear, must-play venue. We’ve given the home of Rock & Roll a star-studded new house! Move-in ready Family room seats 19,432 0 bedrooms, 264 baths Chefs on staff include Michael Symon, Jonathon Sawyer, Rocco Whalen, Karen Small, Matt Mytro, Paul Minnillo, Fabio Salerno, and more Multi-car garage (with plenty of room for Grave Digger) Central Air, but it still gets hot Humongotron TV Custom windows Sweeping skyline views Flaming pyrotechnics Cleveland Made OCTOBER 28-NOVEMBER 3, 2019 SPECIAL ADVERTISING SECTION I SPORTS BUSINESS JOURNAL 3A CGX-065102 SBJ Full Page Venue Ad 1023.indd 1 10/15/19 1:56 PM ROCKET MORTGAGE FIELDHOUSE: CLEVELAND’S EPICENTER OF ENTERTAINMENT ROCKET MORTGAGE, FROM PAGE 2A audio tunnel. Located in the Northwest Atrium at the Sherwin- While the cost to build a brand new Williams entrance, the portal features venue could have reached $800 mil- more than 24 million pixels in 2,200 lion or more, Rocket Mortgage square feet of direct view LED (DVLED) FieldHouse was rebuilt at a cost of $185 that delivers stunning 4K video, along million. Originally designed as a 50/50 with a cutting-edge sound system split with the Cavs and the city/county from Audiotechnik. each paying $70 million, the Cavs In the Power Portal, the sound from increased their portion to $115 million the video follows guests through the to include additional transformations. 39-foot tunnel. With the innovative “At $800 million, the cost to build a pairing of video and audio, each new venue, even with a public/private guest has a unique experience, even partnership, would have been a sub- while other guests are inside the stantial lift for a community of our tunnel. size,” said Komoroski. “The audio experience for a fan at The renovation will pay for itself as the front of the portal is connected to the public portion of the financing what they’re seeing visually, which is comes from event-related revenue different from what the person at the sources, primarily an existing admis- other end of the portal is seeing and sions tax on tickets sold to any event hearing,” said Mike Conley, Cavs’ at the FieldHouse. senior vice president and chief infor- With a public concourse footprint of mation officer. “The technology 152,970 square feet, the Cavs groups the audio and video together increased the FieldHouse’s public regardless of where it’s being shown space by 37 percent. “We’ve gone within the portal. This is the first install- from having amongst the least amount ment in the U.S. of the pairing of this of public square footage of any com- audio and video technology. It’s the parable building in the league to hav- combination of these two technolo- ing amongst the most,” said Komoroski. gies that make this the first of its kind.” “We’ve turned the size of our The Power Portal features scenes FieldHouse into an absolute strength.” related to the current event. For “Rocket Mortgage FieldHouse sets example, at Cavs games, the Power the standard going forward for how Portal will feature Cavs players, while teams can transform their building,” for a concert, it will feature the head- said Barlage. line artist. “Other venues will want to copy the Power Portal because it gives you an Rocket Mortgage exciting feeling as you enter the venue,” said Jerry Cifarelli, founder FieldHouse and vice chairman of ANC, which BY THE NUMBERS operates all of the FieldHouse’s video displays, including the new Power Portal, Canyon and Totem. 605,000 l Workforce hours PHOTOGRAPHY/CLEVELAND CAVALIERS TREPAL An impressive 77,110-square-feet of brushed aluminum forms a massive winding curtain wall $185 million l Construction inside the North Atrium. cost The Curtain Wall and Canyon Captivate Entering Guests 152,970 square feet l Venue The North Atrium — A Front “The North Atrium not only serves footprint the operational and functional pur- Inside the North Atrium is Door to Downtown Cleveland pose of fan ingress and egress, it also 77,110-square-feet of brushed alumi- square feet l North 77,110 The Cavs added 42,530 square creates an iconic window to down- num that forms a massive winding Atrium curtain wall feet to Rocket Mortgage FieldHouse town Cleveland, opening up the curtain wall that was fabricated by 19,432 l Seating capacity by expanding and enclosing the venue to downtown for all that activity Toronto-based EventScape.
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