{"id":1686,"date":"2010-04-06T18:52:48","date_gmt":"2010-04-07T01:52:48","guid":{"rendered":"http:\/\/www.artsjournal.com\/anotherbb\/wp\/2010\/04\/chihuly_center_-_yoko_ott_resp\/"},"modified":"2010-04-06T18:52:48","modified_gmt":"2010-04-07T01:52:48","slug":"chihuly_center_-_yoko_ott_resp","status":"publish","type":"post","link":"https:\/\/www.artsjournal.com\/anotherbb\/2010\/04\/chihuly_center_-_yoko_ott_resp.html","title":{"rendered":"Chihuly Center – Yoko Ott responds"},"content":{"rendered":"

Among the many responses to this post<\/a> (thanks, everybody!), is Yoko Ott<\/a>‘s dissection of the money involved, as well as an alternative plan for a botanical garden at Seattle Center, leaving aside the fact that there is a perfectly lovely botanical garden in Volunteer Park. I’m posting her comment here, because she is indeed good at math.<\/p>\n

\nOne point you keep reiterating repeatedly is the $500K in lease revenue Regina. The (more important) public-private debate aside, it’s the math I’ve been interested in. Generally speaking, I see the point, $500K\/yr certainly seems better than nothing. However at that rate it sure seems like SC is on the loosing side of negotiating a fair market lease rate. Granted, I’m not a real estate agent, so I’m taking a guess here. But really, that $500K at 44K total sq. ft is about $11.25\/sq ft. Being somewhat familiar with commercial lease rates I say the park has some wiggle room to leverage a more competitive rate to really bolster its income. I mean if this IS about earning the public $500K a year as you mention, and the trouble-shooting thought process is to go to the private sector–why not think the way the private sector does and NOT operate far below market value?? Which brings me to the fact that if one spreads the anticipated $20M initial TI investment, (that is cost to build the museum), across the max 20-year lease that’s 1M a year JUST to build it. Add to that annual rent and operating costs (not to mention inflation) divided by their projected annual attendance and it seems like a risky solvent venture–let alone a profit buster. (Did they talk to Mr. Allen?) So what if Mr. Wright saved some cash and gifted the park 10M in 20 $500K annual installments and the City figured out how to build the damn green space–and hey here’s an idea, a part of it could include a botanical garden, with you guessed it, a Chihuly exhibit. Charge admission to it, it would be a fair trade off. <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Among the many responses to this post (thanks, everybody!), is Yoko Ott‘s dissection of the money involved, as well as an alternative plan for a botanical garden at Seattle Center, leaving aside the fact that there is a perfectly lovely botanical garden in Volunteer Park. I’m posting her comment here, because she is indeed good […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1686","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"entry"},"_links":{"self":[{"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/posts\/1686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/comments?post=1686"}],"version-history":[{"count":0,"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/posts\/1686\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/media?parent=1686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/categories?post=1686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.artsjournal.com\/anotherbb\/wp-json\/wp\/v2\/tags?post=1686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}