TCID BOARD OF DIRECTORS APPROVE ADDITIONAL FUNDING TO STUDY CULTURAL ARTS FACILITIES 

Town Center Improvement District Board of Directors approve the second phase of study to bring additional cultural arts to The Woodlands Town Center.

The Board unanimously voted to engage PKF Consulting in Houston to assist TCID in this phase to include Project Concept, Market Analysis, and Utilization and Financial Analysis. This phase includes PKF Consulting meeting with the leadership team of the Houston Museum of Natural Science to understand financial analysis and economic impacts.

The Cultural Arts Task Force has been in the process of studying the need for cultural arts facilities in The Woodlands Town Center. The discussion of cultural arts facilities is based upon Critical Success Factor FACILITIES in TCID’s Visioning 2020 document.

“The Cultural Arts Task Force will study and recommend to the TCID Board of Directors opportunities related to public places for cultural, artistic and educational experiences in The Woodlands Town Center, including feasibility, development, financing and operating analysis,” said TCID Director Vicki Richmond, who chairs the Culture Arts Task Force.

Additionally, the Cultural Arts Task Force, through its first phase of study with Webb Management Services, determined five critical areas when considering new cultural arts facilities for The Woodlands Town Center:

• Facilities must be developed and operated at a high level of quality

• New facilities must be unique and not duplicative

• Financial commitment to the project should be structured in a way to be reasonable and sustainable

• Must deliver significant economic impact

• Project must come with partners to develop and/or operate

After the first phase of study, the Cultural Arts Task Force, along with the TCID Board of Directors, determined a potential partnership with the Houston Museum of Natural Science appeared to be the best scenario to create a destination-driven cultural arts venue. The Cultural Arts Task Force has been actively engaged in conversations with the leadership of the Houston Museum of Natural Science along these regards.

PKF Consulting in Houston also provided consulting services for TCID and its development of the Convention Center. PKF Consulting will deliver this study for less than $40,000. Phase One, which included market analysis, comparable projects, community goals, benefits and impacts, facility concept and a final report and presentation, cost $35,137.
For more information about Town Center Improvement District, visit the Town Center website at www.town-center.com, or call 281-363-2447.

About PKF Consulting

• Internationally recognized consulting firm which specializes exclusively in leisure real estate, including hotels, restaurants, public assembly facilities, theme parks, casinos, museums, marinas, country clubs, etc.
• Strong local presence for over 50 years.
• Deep knowledge of The Woodlands going back to its inception.
• Can call on resources of PKF offices throughout the country.
• Has access to the database and research capabilities of PKF Hospitality Research, a subsidiary of PKF Consulting headquartered in Atlanta.

Town Center Improvement District has an excellent long-standing relationship with PKF Consulting.