The findings from a study conducted by RCLCO, a real estate consulting company, showcase how a Cleveland Browns domed stadium and adjacent mixed-use development in Brook Park is primed for success in Northeast Ohio. It can serve as a catalyst for growth in Cuyahoga County.
RCLCO conducted an independent market analysis for the real estate opportunities at the site of the Brook Park development and potential future of Huntington Bank Field. Their market analysis included program, pricing and absorption, as well as analysis of the projected fiscal and economic impacts of the new Brook Park development.
"We really look at this site as complementary in the broader landscape of Cleveland and Northeast Ohio, overall," Managing Director of RCLCO Erin Talkington said. "Most regions, including others in the Midwest, have multiple venues that host events and today those types of events aren't coming to Cleveland. So, Cleveland's spending is actually leaving and going to places like Indianapolis and Detroit to go to those events. So, this is really an opportunity not just for this particular site to have more activity, but for the region to capture economic activity that's been leaving and to bring in visitor spending that's not coming here today."
Through the study, RCLCO identified three main key findings.
The first key finding highlighted how the site is viable for mixed-use development in conjunction with a new domed stadium. RCLCO compared other sports-anchored projects around the country that have set the precedent for large-scale mixed-use developments. Those examples included The Battery in Atlanta, Georgia (adjacent to the Braves ballpark), Titletown in Green Bay, Wisconsin (adjacent to the Packers stadium) and the Deer District in Milwaukee, Wisconsin (adjacent to the Milwaukee Bucks arena).
A domed stadium can attract up to an additional 1.5 million visitors through a mix of year-round programming of various sizes and major events. In 2024, the domed stadiums in Detroit, Indianapolis and Minneapolis hosted concerts and other major events 3-5 times more often than Huntington Bank Field.
Over 40 percent of visitors to the three major non-Browns events at Huntington Bank Field in 2024 were outside of Ohio. At other large events similar to those that would be targeted for the new domed stadium, 65-75 percent of visitors would be out of market.
"The region should be really excited for this opportunity, and we recognize that it's hard to envision today how one NFL venue can be different from another NFL venue when it's just moving not that far down the road," Talkington said. "This has the potential to really change the economic impact for the region out of that venue based on the new visitors and the amount of new spending and events that occur and the visitors that can really come to the region from out of state today and the spending that Clevelanders are sending other places that we can retain."
The second key finding demonstrated how the stadium in Brook Park and the adjacent mixed-use development will generate positive economic impact for the region. RCLCO projected an annual direct economic output of $1.2 billion across Cuyahoga County, as well as create nearly 5,400 permanent jobs.
Of the $1.2 billion in annual economic output, $550 million is projected to come from the surrounding mixed-use development. Another $217 million is projected to occur at the stadium from major events and other non-NFL activities, showing significant economic impact to the region.
Outside Cuyahoga County, the project is projected to generate $181 million in additional economic impact, which would support businesses and jobs in other communities around Ohio.
Upon completion, the project is expected to support nearly 5,400 full-time permanent jobs, included 870 at the stadium, 2,520 in the adjacent mixed-use district and 1,980 at surrounding businesses serving visitors, residents and employees associated with the project. The project is also expected to support another 2,540 indirect and induced jobs across Cuyahoga County.
Talkington explained the significant economic impact a project of this nature would bring.
"We're talking about $1.2 billion in overall economic impact with over $200 million of that off site and over 5,400 permanent jobs once this development is completed," Talkington said. "And that includes both people working in the stadium as well as working in the surrounding mixed-use development. We really think that at the end of the day, this is a better utilization of this venue and a better opportunity economically and more efficient opportunity economically for how a stadium can contribute to the regional economy than an open-air venue that needs some work and isn't going to change anything from an economic perspective today."
The third finding from RCLCO emphasized that while the Browns would relocate to Brook Park, the new domed stadium would also bring significant benefits to downtown Cleveland and the City of Cleveland as a whole. The increase of events would bring an uptick of visitors to Northeast Ohio – many of whom would come to stay and dine in downtown Cleveland.
Total annual spending at bars, restaurants and hotels downtown is projected to increase by about $11 million over what is generated today by the activity at Huntington Bank Field. The data suggests that 40 percent or more of visitors come from out of state, and the need for hospitality infrastructure for those games and events would spill into downtown Cleveland.
"When we look at this type of domed facility and adjacent mixed-use development, this type of venue is really unique to the region and we expect that based on what we know about some of the concerts and other non-NFL events that have been hosted in the Browns' Stadium today, that at least 40 percent of visitors are coming from out of state already," Talkington said. "So, we really expect that trend will continue. This is an opportunity to bring in spending to the region and bring in new visitors who will probably stay overnight and spend money.
When, you look at the area around Brook Park and what can be accommodated on the site, the site itself is only estimated to have 400 or 500 hotel rooms at the end of the day," Talkington continued. "To accommodate the visitors that are coming here and their preferences, downtown Cleveland is going to have to host a lot of these visitors. And when we look at the specific spending that's happening today from NFL games downtown, as well as the future spending that might happen as spillover from games happening in Brook Park as well as those major events we're talking about, we actually think downtown benefits to the tune of 10 to 12 million dollars a year."
The move to Brook Park also opens an opportunity for the lakefront redevelopment, producing a greater long-term regional opportunity for impactful year-round use. Moving the stadium off the lakefront will build on downtown's renewed momentum for lakefront development driven by Cleveland Mayor Justin Bibb's strong commitment, the $80+ million in state and federal lakefront infrastructure grant funding already secured and the new lakefront authority which will drive the development process.
There is up to 2.0 million square feet available for transformational mixed-use development over time at the stadium site and would generate hundreds of millions of dollars in tax revenue for the City of Cleveland.
These three main findings, with additional information among each finding, demonstrate the path to success in Brook Park and the positive economic impact a domed stadium would have in Northeast Ohio.
"For the past 24 months, we have worked closely with RCLCO, a nationally renowned real estate consultancy, to help guide us with our future stadium planning process," Haslam Sports Group Chief Operating Officer Dave Jenkins said in a statement. "Their expertise analyzing job creation, event attraction, and office/retail needs in relation to sports venue-anchored real estate developments reinforced three primary conclusions, which underscore why a new Huntington Bank Field enclosed stadium in Brook Park will have a transformative impact on the Northeast Ohio region and Greater Cleveland.
- The new enclosed stadium, with numerous premier events and year-round activity, will have a significant economic impact throughout Northeast Ohio, including downtown Cleveland, in ways currently not experienced. Such events will attract new visitors without cannibalizing existing venues.
- The mixed-use development, connected to the new enclosed stadium in Brook Park, will successfully attract new and unique visitors to experiential retail spaces, multi-unit housing, office space and much-needed hotel rooms to the area.
- The lakefront, without the intrusion of the stadium, can be redeveloped and reimagined, creating new sources for economic impact in Cleveland.
"We are pleased to share key findings from this study to further illustrate why we strongly believe a new enclosed stadium and adjacent mixed-use development in Brook Park is the best long-term solution for our fans and how it will transform our region."
To read the executive summary from RCLCO, see below.
