Overview
Memorial Stadium was built in 1923 and serves as home to the Nebraska Cornhuskers football team. CAA ICON was engaged by the University of Nebraska-Lincoln to assess the feasibility of and economic impact of renovating the 100-year old stadium.
Approach
CAA ICON implemented the following Feasibility and Planning services for the University of Nebraska-Lincoln project:
Market and Financial Feasibility Analysis: Provided a comprehensive understanding of the market demand to drive programming recommendations, engaged the community and key stakeholders through primary research to validate the prelimary market demand conclusions, and created a financial model for the stadium to quantify operating revenues and expenses and estimate ROI.
Economic and Fiscal Impact Analysis: Estimated the financial and economic impacts in connection with the renovation period and on-going operations of Memorial Stadium.
Result
In October 2023, the University of Nebraska Board of Regents unanimously approved the $450 million renovation to Memorial Stadium. Construction is expected to begin after the 2024 football season. Renovation plans include the demolition and replacement of the South Stadium, 360-degree main concourse connection, concession upgrades, and enhanced student life amenities.
