The Howard Hughes Corporation (HHC) has announced plans for a new 10,000 seat ballpark in downtown Summerlin, NV, where the company is working on a massive master planned community (MPC) for 160,000 people. The new stadium, to be ready for the 2019 season, will house the Las Vegas 51s; a minor-league baseball team HHC acquired controlling interest in earlier this year. HHC also announced this week that ESPN has signed a multi-year, 19,000 SF lease for a NYC studio at South Street Seaport’s Pier 17; their $731 million waterfront redevelopment project.
Howie Long-Short: HHC owns the land the stadium will be built on, they have an $80 million stadium naming rights deal in place and replacing a 34-year-old park, with a state-of-the-art facility will certainly increase team revenues come 2019. So, I like this project. The 51s are just a small piece of the $5.16 billion (market cap) conglomerate though, as the company develops and operates MPC’s and mixed-use properties across 14 states.
Fan Marino: ESPN (DIS) has said the NYC facility will have 2 studios for television and 1 for radio, though they’ve yet to announce which shows will be broadcast from the pier. As for the network’s often-discussed SC6 show, Michael Smith will be hosting the show solo for the balance of Jamele Hill’s 2-week suspension for her 2nd violation of social media policy.