Celesial Ballroom Project

Celestial Ballroom and Conference Center

Renderings
Description Location
The Celestial Ballroom and Conference Center will be a 5500 seat entertainment venue which will book top name live entertainment in all music genres. Next to it will be a 130,000 conference center with facilities for a wide range of businesses. There will also be a 200 to 300 room hotel which will provide accommodations for entertainers and travelers. The facility will have unrestricted visibility from a major highway, US Route 15, and provides a unique opportunity in the affluent and underserved Frederick, MD market. Frederick, MD (greater area population approx. 235,000) which is located 43 miles from Washington, DC, 46 miles from Baltimore and is accessible from three major airports.
Highlights
  • Brings top name live entertainment to a growing area with compelling demographics.
  • Median household income exceeds $80,000 and major employers, such as Fort Detrick, MedImmune, BP Solar, Lockheed Martin, and Bechtel, offer good jobs in growth industries.
  • Provides an accessible live entertainment value proposition to over 10 million people within a half day’s drive.
  • Easily accessible from 2 major metropolitan areas and 5 states; less than half day’s drive from 4 state capitols and 2 additional metropolitan areas.
  • Unique structure with four levels, an open roof for viewing the stars, and ten restaurants to allow patrons to dine before, during, and after the performances.
  • Well located conference site for value oriented conference and meeting planners.
  • Will create approximately 3600 full time and construction jobs.
Land Size Transaction Status
The 93 acre targeted site is in the northeast part of Frederick, MD adjacent to a major highway. Will negotiate land purchase and obtain feasibility study.
Aerial Photo of Site
Ballroom Conference Center
The Celestial Ballroom will have four floors.  The first floor will seat 5,000 people and have ten restaurants.  The second floor will have a recording studio and room for private events.  The third and fourth floors will each sit 250 people and have tables, chairs and a dance floor.  There will be a dome ceiling from which each floor will be able to view the heavenly bodies. The adjacent Conference Center will be a 130,000 square foot facility that will provide space for corporate and other conferences, trade shows, sales meetings, product launches and other events.
Development Timeline Development Program
Obtain Feasibility Study

Secure land

Develop land and sell parcels to hotel company and retail developer

Build infrastructure

Construct Ballroom, Conference Center and Hotel

Simultaneous completion of each

Development will begin when funding becomes available,  with completion expected within eighteen (18) months of ground breaking.  Future phases could include high-end retail and mixed use space.
Summary of Costs Projected Revenue and Income
Land Cost
Ballroom Cost
Total
$35 million
$140.9 million
$175.9 million
Revenue
NOI
FFO
$30.5 million
$19.1 million
$12.8 million
Summary of Capitalization
Bank Loan and Other Debt $124.0 million
Equity $82.0 million
Private Corporate Booth View 1
Private Corporate Booth View 2
Private Corporate Booth View 3
Private Corporate Booth View 4
Interested in investing? Please contact:
Renee Smith at this email address renee@celestialballrom.com