Construction backlogs and supply chain issues as a result of COVID-19 have halted construction projects across the nation for almost a year, but Savannah’s anticipated new arena has moved forward as planned. JLL was selected by the City of Savannah to manage the development of the new Savannah Arena and Canal District, the city’s largest undertaking to date. The arena will be home to Savannah’s newly announced minor league hockey team, a first for the city, set to participate in the 2022-2023 ECHL season.
The 213,000-square-foot arena will contain approximately 9,000 seats, including club seats and luxury suites. The site will also provide approximately 3,000 structured parking spaces, allowing thousands of visitors to experience the $165 million project’s expansive new features. The arena is currently projected to be completed early 2022.
“For the Savannah Arena to be on time and in budget during this time is remarkable,” said Savannah’s Mayor Van Johnson. “It is a testament to the willpower of JLL and all of our partners.”
Construction delays can have a detrimental impact on projects financially. The U.S. Chamber of Commerce reports that 83% of contractors are currently experiencing project delays on some projects due to the pandemic. And according to the Associated General Contractors, 54% of construction firms say the cost of completing projects has been higher than originally anticipated because of the pandemic. In the case of the Savannah Arena, every month of delay could have potentially cost around a half a million dollars.
“COVID-19 brought unprecedented changes to the construction industry, halting planned and existing projects across industries,” said James Renne, National Director of Sports and Entertainment, JLL. “Our team’s diligent work kept this project forging ahead even through impossible times. The project will not only be delivered on time, but our help in navigating the city through the supply changes the pandemic brought drove an extraordinary amount of savings for the city.”
The Savannah Arena and Canal District has been constructed in phases to accompany the space around the arena, which is positioned in the core of Savannah, west of West Boundary Street.
“JLL is proud to partner with the City of Savannah in redeveloping such a merited part of the city,” said Jim Curry, Vice President, Project and Development Services, JLL. “From the new hockey team to the anticipated return of live concerts, the arena will energize tourism and have an extraordinary impact financially for the city.”
For more information on JLL’s Sports and Entertainment industry practice, please visit: us.jll.com/en/industries/sports-and-entertainment
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.