National Hockey League targets development of 100 rinks.
"Branded as NHL SKATE, the rink development initiative with Family Enterprises is one of the most important long-term projects we as a league can undertake," said Solomon. "Without question, the most fundamental tool we have to build the game of hockey is to provide the opportunity for people, young or old, boy or girl, to play the game recreationally or competitively."
"It is clear that there is a tremendous business opportunity to be realized through mass construction - particularly in light of that fact that demand continues to severely outweigh supply," said William Remley, vice chairman of Mentmore. "Construction of our first rinks will begin this spring. This will be a multi-million dollar project which we expect to result in the construction of more than 100 rinks."
The newest NHL SKATE facilities will join NHL SKATE at Birch Run, MI, which has entertained more than a quarter million people since its opening in September 1997, and NHL SKATE at Danbury, CT, which will open in September 1999. Already, more than 200 communities worldwide have made inquiries about the construction of NHL SKATE facilities in their areas, with Family Ice expecting to break ground for its first facilities in May 1998 in Exeter, NH, and St. John, IN.
As part of the agreement, Family Enterprises will have the exclusive right to develOp the NHL SKATE facilities, which will include two NHL-sized ice sheets with combined seating for almost 1,000 spectators; eight NHL-themed locker rooms; an NHL FANtasy zone encompassing interactive activities such as slapshot booths and video games; a multi-serve food court; and a large retail store. Each NHL SKATE facility will feature broad-based programming that includes youth hockey, adult hockey, figure skating, public skating, instructional programs such as learn-to-skate and learn-to-play hockey, as well as NHL-themed events, such as national and regional tournaments and competitions for all skaters. Additionally, NHL SKATE facilities will dedicate a portion of ice time to community outreach programs.
Mentmore Holdings Corporation is a privately-owned investment company that has successfully completed acquisitions or significant equity investments in public and private companies with total revenues in 1997 of more than $1.3 billion. In addition, Mentmore Holdings Corporation, through an affiliate company, Mentmore Development Company, LLC, with offices in New York, Washington, D.C. and San Francisco, operates one of the largest real estate development firms in the United States. Mentmore Development Company and its subsidiaries and predecessor companies have developed more than 23 million square feet of real estate, representing an investment cost of more than $4 billion. Among the projects Mentmore Development has spearheaded have been the Washington Harbour and Market square development projects in Washington, D.C., as well as the development and management of more than 14 million square feet of retail centers spanning some 12 states, with a total cost in excess of $2 billion.
Another affiliate of Mentmore, Rival Sport LLC, is a successful joint venture with NHL Enterprises, designing and marketing branded hockey and action sports-oriented apparel.
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|Publication:||Real Estate Weekly|
|Date:||Jun 3, 1998|
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