Future of Large-Scale Performing Arts market feasibility study

Information

This market feasibility study is one piece of a larger package of information that Mayor Wilson and the City Councilors will have at their disposal when acting as the ultimate decision-makers about how the City will move forward with its large-scale performing arts ecosystem.

Background on the Future of Large-Scale Performing Arts market feasibility study

The Keller Auditorium is owned by the City of Portland, and it's the only venue in the region capable of hosting touring Broadway performances and other large-scale productions. To address the Keller's growing list of urgent capital needs and to fully renovate the hall, an extended closure would be required with costs estimated at $290.6 million (as of 5/28/2024 projections).

City Council Resolution 37680, passed in October 2024, directed that the City explore the idea of first constructing a new Broadway-capable theater on the Portland State University (PSU) site. If a new theater does open, the existing Keller could then be renovated. While more costly, this approach would avert prolonged closure, which would negatively impact arts organizations, jobs, and the downtown economy. This proposal has raised the question of whether the regional market could support two large Broadway-capable venues.

The City's Community and Economic Development Service Area and the Office of Arts & Culture engaged consulting firm Hunden Partners to conduct this market feasibility study as part of the Future of Large-Scale Performing Arts project. As part of their analysis, Hunden Partners conducted site visits, stakeholder interviews, and extensive research between July and December 2025, and the study was finalized and released to the public in January 2026. This market feasibility study is one piece of a larger package of information that Mayor Wilson and the City Councilors will have at their disposal when acting as the ultimate decision-makers about how the City will move forward with its large-scale performing arts ecosystem.

Goals of the market feasibility study

The goal of the market feasibility study was to answer these key questions:

Is there market demand for two Broadway-capable venues in downtown Portland?
What is the optimal user mix and event mix?
What are the optimal seating capacities and venue/production capabilities for Portland’s large, publicly owned theaters?

Scope of work

The market feasibility study took into account existing performing arts venues in the region as they currently exist as well as planned venue developments in the next 5-10 years. The scope of work included:

Planning and research: Review and analysis of existing reports and background information to provide context for the project.
Market trends: An overview of current, historical and future trends in the performing arts and entertainment venues industry. Present case studies in comparison markets.
Program supply: Size and scope the needs and interests of venue renters and arts presenters for large-scale performance spaces in downtown Portland.
Audience demand: Size and scope current and potential audience market for multiple large-scale, major events in downtown Portland and Central City.
Venue inventory: Assessment of the supply of current and planned performing arts venues in Portland and the region. Identification of gaps, risks and opportunities.
Final report and presentations: Summary of findings incorporated into a final written report and formal presentations.

Future of Large-Scale Performing Arts market feasibility study findings

Executive summary

Key questions and answers

Is there sufficient demand for two Broadway-capable venues operating concurrently in Portland? There is insufficient market demand or comparable market support to justify two Broadway-capable venues in Portland.
What are the optimal user types, event types, and programming strategies? With two commercial venues proposed in Portland, a new venue should focus on maximizing Broadway content and maintaining theatre-style commercial content, while also being an accessible home to resident companies and non-profits.
What are the ideal seating capacities and technical capabilities to meet current and future market needs? The ideal seating capacity of a new venue is 3,200. This capacity would allow for maximum visitation and revenue potential while also maintaining high occupancy at events. The venue should include amenities that maximize customer experience as well as production capabilities that align with Broadway production standards. More detailed technical requirements are included later in the report.

Recommendations

Develop a new Broadway-capable venue at Portland State University:

Lack of market support for two venues
Limitations on achieving the optimal capacity and overall physical program and amenities at a renovated Keller Auditorium
Full performing arts campus and support amenities achievable at PSU site
No downtime in hosting Broadway, commercial, and local content, helping to maintain subscriber base, Broadway presence, and ongoing P'5 venue support
A new venue can result in sustained audience and subscription growth

Download the Executive Summary12.34 MB