EVERETT SQUARE

THEATRE
May 11, 2017
Jacqueline DaTorre, Aaron Horne,
Michael Lane, Connor Maguire,
Kelsey Tague

March 2007 | 1
 Agenda

1. Context Overview of Project

2. The Site
3. Current Conditions
4. Thesis Statement
5. Methodology and Strategic Objectives
6. Conclusions from Research
7. Business Plan
8. Next Steps
9. Vision and Renderings

March 2007 | 2
 Context Overview of Project

March 2007 | 3
 Project Overview

Everett Square Theatre

Once popular community theatre showing

vaudeville theatre and other live performances
from 1915-1939
From then on it was used exclusively for
movies before closing in the 1980s
Two unsuccessful attempts at renovation
occurred between 1986-2008
In 2008, Historic Boston gave $30,000 to
remodel the lobby and create a new sign for
the outside of the building

Source: After the Final Curtain

March 2007 | 4
 The Site

March 2007 | 5
 Map of Area

Everett Square Theatre

March 2007 | 6
 Hyde Park

Menino Arts Center

Hyde Park Library

Cleary Square

Antonios Bacaro
Rincon Restaurant

Everett Square Theatre Fairmount Grille

Boston Preparatory School

March 2007 | 7
 Current Conditions

March 2007 | 8
 Sign and Facade

March 2007 | 9
 Stage

March 2007 | 10
 Stage & Balcony

March 2007 | 11
 Lobby

March 2007 | 12
 Stairs

March 2007 | 13
 Thesis Statement

March 2007 | 14
 Thesis Statement

With an effective business plan and proper

funding, Everett Square Theatre can once
again become a thriving community resource

March 2007 | 15
 Methodology and Strategic
Objectives

March 2007 | 16
 Methodology

1. Analyze and consolidate feasibility and consulting studies

2. Conduct interviews with theatre experts, contractors, and Hyde Park
stakeholders
3. Conducted demographic analysis and programming ideas to meet
market demand
4. Lay out space for renovated theatre and public areas
5. Formulate realistic cost estimates for the restoration of the theatre
6. Research potential sources of financing on state and federal level and
assess the viability of using them on this project
7. Prepare pro-forma financial statement of operations

March 2007 | 17
 List of Interviews

Theatres:
Ian Judge, Somerville Theatre
Andrew Thompson, Coolidge Corner Theatre
Dustin Bell, Open Theatre Project
Weylin Symes, Stoneham Theatre
Joe Fisicaro, Cherokee High School Theatre Department

Programming:
Steven Roth, JCA
Kathy Kottaridis, Historic Boston
Susan Weiler, CRASHarts
Emily Patrick, Hyde Park Main Streets
Jan Kenney, Menino Arts Center

Construction:
Mike Weber, Gaston Electric
Bill Weber, Gaston Electric
Timothy West, Gaston Electric
Chad Morrison, Theatre Project Consultants
Scott Tague, Willco Sales and Specialty Construction

March 2007 | 18
 Conclusions from Research

March 2007 | 19
 SWOT Analysis

Strengths Weaknesses

Historic character Physical state of theatre

Internal

Active business location Distance from Downtown Boston

Strong community ties Parking limitations/No T Stations
Positive media attention Financial feasibility

Opportunities Threats
External

Local support Theatre competition

Demand for theatre space Reliance on outside funding
Growing arts community Complexity and cost of renovation

Helpful Harmful

March 2007 | 20
 Target Audience

1. Fairmount Fred
- Walks or uses public transport
- Attends the most events but spends the
least per visit
- Attends performances, live shows, school
and community events, and private events

2. Jamaica Plain Jane

- Travels by car or bus
- Attends all types of performances
- Patrons local restaurants some of the time

3. Boston Betty
- Most devoted theatre goer
- Travels by car or Uber
- Attends premium events
- Eats at local restaurant before show
- Most disposable income

March 2007 | 21
 Fairmount Fred - Primary Market Segment

76% 130% 4x
Demand for Rise in median Hispanic
Live Theatre income since community
and Dance 2000 since 2000

$145M spent on $64,320 in 2017 23% of Hyde Park

Entertainment residents

Source: Fort Point Consulting, Inc.

March 2007 | 22
 Parking

Source: Everett Hall Restoration Study

March 2007 | 23
 Demand

March 2007 | 24
 Comparables

Original Primary Total

Resident Total
Theatre Capacity Space Performance Revenue per
Company Income
Type Types Seat

Theatre, drama,
Former
Stoneham Theatre dance, including
370 movie yes $2,130,236 $5,757
Stoneham, MA school programs
theatre
and classes

Theatre, movies,
Former
The Stadium Theatre shows,
1,088 movie no $1,249,436 $1,148
Woonsocket, RI childrens
theatre
theatre, classes

New Rep Company New

340 Theatre, drama no $1,783,577 $5,246
Watertown, MA proscenium

Source: Fort Point Consulting, Inc.

March 2007 | 25
 Stoneham Theatre - Stoneham, MA

March 2007 | 26
 The Stadium Theatre - Woonsocket, RI

March 2007 | 27
 New Repertory Theatre - Watertown, MA

March 2007 | 28
 Colonial Theatre - Keene, NH

March 2007 | 29
 Majestic Theatre - Dallas, TX

March 2007 | 30
 Business Plan

March 2007 | 31
 Marketing Mix

Having an active social media presence is vital to reaching a larger audience

Can tailor marketing on platforms like Facebook to target certain geographic locations

Important to build a community of theatre supporters in Hyde Park before

expanding to other markets
Other theatres in areas with similar demographics have found direct human
outreach (emails, news advertisements, etc.) is just as important as social
media campaign
Need to determine what shows and other types of live entertainment are
wanted in the community and then market to this demand

March 2007 | 32
 Social Media Marketing

March 2007 | 33
 Mock Programming: December
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1 2 3 4 5 6

Dress Elf Showing Childrens Childrens

Rehearsal Nutcracker Nutcracker

7 8 9 10 11 12 13

Town Meeting Dress Rudolph Childrens Childrens

Rehearsal Showing Nutcracker Nutcracker

14 15 16 17 18 19 20

Kids Holiday Frozen Local Holiday

Party! Showing Concert

21 22 23 24 25 26 27

Community Food Shelter Christmas Home Alone Winter

Mass Collection Pageant Showing Concert

28 29 30 31

NYE Party!

March 2007 | 34
 Construction and Funding
Analysis

March 2007 | 35
 Cost of Renovation

Source: Gaston Electrical

March 2007 | 36
 Sources and Uses

$10,285,102 $10,285,102

March 2007 | 37
 Potential Sources of Funds

Historic Tax Credits Loans Grants

Federal Tax Credits Bank of America NEA (National Endowment for the
State Tax Credits Blue Hills Bank Arts)
Commonwealth Bank Massachusetts Cultural Council
Community
Specific theatre grants
Reinvestment Act

March 2007 | 38
 Historic Tax Credits

Process for Federal and State Historic Tax Credits Application

Step 1 Present information about appearance and significance of building

Step 2 Describe condition of the building and planned rehab work

Step 3 Submit application for National Park Service approval

March 2007 | 39
 Ideas for Crowdfunding

March 2007 | 40
 Revenue & Expenses

March 2007 | 41
 Key Assumptions

Base Case Revenue

450 Seats
60% Occupancy

Concessions as 25% of Ticket Sales

30% Retained Ticket Sales

March 2007 | 42
 Annual Ticket Sales and Rent Scenarios

Ticket Price represents price of theatre rental

March 2007 | 43
 Pro Forma - Income Statement

Assumptions
Seats: 450

60% Occupancy

Retain 30% of Ticket Sales

Concessions are 25% of Ticket Sales

Advertising is 8% of Ticket Sales Sources: Somerville & Stoneham Theatres

March 2007 | 44
 Pro Forma - Income Statement

March 2007 | 45
 Sensitivity Analysis: Operating Income per Seat

March 2007 | 46
 Next Steps

March 2007 | 47
 Next Steps for Pat

1. Register as a Historic Landmark

2. Assemble a development team, designate project manager
3. Launch social media campaign - Create the buzz!
4. Begin crowdfunding efforts
5. Investigate variety of funding sources
6. Meet Boston area theatre organizations and theatre promoters
7. Contact experts from presentation
8. Specify cost estimates for project
9. Prepare monthly uses and sources of funds and operating budget

March 2007 | 48
 Vision and Renderings

March 2007 | 49
 Lobby

March 2007 | 50
March 2007 | 51
 Stage & Balcony

March 2007 | 52
March 2007 | 53
 Thank you
March 2007 | 54