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Mayor Ralph Becker's Broadway dream may be granted — though critics fear a nightmare coming on.
A new study — in the works for a year — heartily endorses Salt Lake City's vision for a $100 million Broadway-class theater, arguing a showcase playhouse would permanently change Main Street's face and fortunes.
The report predicts a Utah Performing Arts Center at 135 S. Main could buck industry trends by breaking even after five years and then generate $2.5 million annually. It also projects a glass-encased theater built in the shadow of City Creek Center would draw more than 250,000 patrons a year and deliver an additional $9.4 million annually in city sales taxes.
"This new theater will anchor the cultural core of downtown arts venues for the next generation," reads the feasibility study from Garfield Traub Swisher (GTS) and Hamilton Partners, "providing a state-of-the-art venue option for local arts growth, attracting touring Broadway productions sooner, and allowing for extended runs and the expansion of the Broadway series in the market."
The consultants insist a new theater would be a regional attraction and an economic development engine, representing the "logical progression" in the downtown arts scene. The report will be presented to city officials Tuesday.
Becker has made the Broadway-style theater one of his highest priorities since taking office in 2008. The flagging economy has done little to dissuade him, though the first-term mayor concedes funding poses a challenge.
The study suggests 85 percent of the $100 million to $120 million price tag should come through a sales tax or lease revenue bond — which would not require voter approval — but says the "sources of funds for bond repayment would have to be identified." It calls for the balance to be covered by securing federal tax credits and selling naming rights to the theater.
Helen Langan, Becker's senior adviser, notes the theater cost is $100 million. The extra $20 million in "amenities" could cover shops intended to energize Regent Street, just behind the theater.
The consultants suggest the theater be managed by Salt Lake County — not an independent vendor — to take advantage of the county's expertise and arts-venue efficiencies. And, they say, a 20- to 25-story office tower — proposed by Hamilton Partners to replace Bennion Jewelers on the southeast corner of 100 South and Main — would provide the ideal transition between the LDS Church's City Creek Center, set to open next March, and the rest of downtown. The retail-anchored tower would connect with the theater via a galleria and shared Main Street entrance.
"It's very significant," Redevelopment Agency director D.J. Baxter said of the report. "It really shores up with detailed analysis the belief that this type of facility is not only needed but beneficial."
Critics are hardly swayed.
"It's still hard to see what that unmet need is when every major tour passes through Salt Lake City, including 'Lion King' and 'Wicked,' " said Chris Lino, managing director for Pioneer Theatre Company. "Who's going to use the 2,500-seat theater other than the national tours — and there are frankly few of those to go around."
Neither downtown's Capitol Theatre nor the University of Utah's Kingsbury Hall are ideal, Lino acknowledges, but they are functioning.
"They have limitations, but not crippling limitations," he said.
The study shows three of four comparably sized Midwestern and Eastern markets snag more national touring shows than Salt Lake City each year. Worse, Broadway acts that regularly land in Phoenix, Denver, and Portland, Ore., the consultants add, skip over Utah.
The report says both Capitol and Kingsbury are too cramped. And it says "meaningful latent market demand" for Broadway extends along the Wasatch Front and into Park City.
Parking for up to 650 cars could be provided in a nearby Regent Street garage. If the project gets the nod, estimates predict up to 4,000 construction jobs, more than 100 permanent positions and a $500 million economic boost during the three-year build.
"We asked GTS to take a very, very conservative approach," Langan said. "So we are very pleased to see their projections."
The blueprint calls for a mid-block path to connect Regent and Main streets. The playhouse would offer two balcony galleries, an orchestra pit, a green room and support space large enough to accommodate the Utah Symphony and Opera along with Ballet West. Architects expect those arts groups would frequently use the theater.
Even so, the city is still negotiating with the LDS Church to buy the property. And Salt Lake County's 2008 Cultural Facilities Master Plan warned such a theater could siphon millions annually from existing arts venues.
The city paid $741,000 for the report, plus another $136,000 for extra analysis, marketing and some workshops. When told about the nearly $1 million investment, Pioneer Theatre's Lino did well to hold back a laugh.
"It doesn't entirely surprise me," he said, "that they are recommending it."
Playhouse behind the curtain
Total project cost • $100 million to $120 million
Shows • 80 to 104 annual Broadway shows, 175 total performances
Customers • Up to 257,000 patrons a year
Jobs • Up to 4,000 construction jobs, 115 permanent jobs
Profit • $2.5 million annual profit projected after fiveyears
Economy • $9.4 million annual boost to Salt Lake City