In anticipation of the March 2008 opening of the Chaifetz Arena, construction is reaching new heights, as administrators look to diminish the debt that the project has generated.
Thursday marked what Arena Manager Darius Dunn called a “major arena construction milestone”: the placement of the first steel roof beam for the facility. Dunn indicated that construction workers have taken great strides elsewhere, pouring concrete for the suite level of the arena and forming the framework of the practice facilities.
“Week to week the transformation is noticeably impressive; the construction team is doing a fantastic job,” Dunn said.
Dunn also said that he has already begun planning events to “unveil this venue to the region.” Announcements regarding the opening of the arena are on the horizon.
Administrators are still raising money for the $81 million project. With $9 million still to go, administrators have decided to tack on an additional fee for the best seats in the house. Fees ranging from $150 to $3,500 will be added to ticket prices for 2,900 of the seats closest to the court. These “premium” seats make up 27 percent of the venue’s space.
Mark Wright, who works as an associate director in the athletics department, said that the arena fee has been considered for some time and will “generate [the] revenues sufficient to pay off the bonds” that have been taken out during the construction of the arena.
Wright points out that smaller fees have been added to premium seats in the Scottrade Center, allowing for extra funding for the athletic department. “Most Billiken fans are not aware that we already . market premium seating for men’s basketball games. [The premium] seats . are located at the courtside table and the first rows on each side. These prices are $1,750 per seat plus the cost of the season ticket and $1,250 per seat, respectively. These sections are completely sold out.”
Several high profile universities and venues have employed similar pricing scales for their best seats. “Variable pricing by location is a conventional standard in today’s sport ticketing business.” Wright also said that, even with the steeper fees, the Chaifetz Arena will boast the best value for sports in St. Louis.
While other universities who have arena fees have basketball teams that regularly reach national conferences, Saint Louis University’s men’s basketball team has struggled with consistency in recent years.
Wright says that the addition of Rick Majerus to Billiken basketball justifies the extra cash fans will have to dole out. “The University has just hired one of the most successful men’s basketball coaches in NCAA history, and we are opening a state-of-the-art facility, so we are comfortable that great things are on the horizon for Billiken Basketball.”
Students will not be affected by the boost in pricing, Wright said. “We anticipate that student tickets will be around $5 a game as a season ticket.”
Wright seemed confident in the Chaifetz Arena, praising SLU President Lawrence Biondi, S.J., for his continuing support of the project. “In an urban environment, as a Division I school, we will have one of the best athletic facilities in the country.”
