At this time, we have elected to relocate our amphitheater project. After consulting with venue architects, they believe the maximum capacity for this venue at the Majestic site to be approximately 2,000. In order to create a unique venue for the city and the region, our operating partner [Walton Arts Center] would prefer to have a capacity of at least 5,000.
In addition to size constraints at the Majestic Hotel site, we have continued to receive comments from local citizens and prospective patrons that are concerned about traffic and security issues. For the venue to be successful, these legitimate concerns must be addressed. At a minimum, that would entail the re-design and re-construction of the trisection of Park, Whittington, and Central Avenues. Such an undertaking would make the project unaffordable as well as create intolerable time delays.
Another challenge we are facing is the current instability of our economy, combined with record inflation which is preventing us from reliably budgeting future project costs or obtaining reliable bids for future construction
We still intend to bring a unique outdoor entertainment venue to Hot Springs, however we do not believe it is feasible at the Majestic site. Our development team, the Wilson Companies, and the Walton Arts Center are in the process of reviewing alternate properties in Hot Springs that meet all of our site criteria. We appreciate the support of the community and we look forward to working with city officials to bring this magnificent venue to Hot Springs.