The opportunity for Gaillard Center must be seized

Opportunities like Gaillard Center come along once in a lifetime, if at all. Here we have an opportunity to create a world-class civic place at a cost that is less than it would have been three years ago and less than it will be five years hence.

And half the cost of this valuable community resource will be paid by private contributions.

Furthermore, it will require no tax increases and will, in fact, save taxpayers money and increase revenues for the city.

I believe that this remarkable set of circumstances may never occur again. We would be seriously remiss if we allowed this unique opportunity to pass us by.

Built more than four decades ago, our current auditorium and exhibition hall are inadequate and out-of-date.

Gaillard Center will alter only slightly the current auditorium's footprint. It will include a world-class performance hall, a renovated exhibition hall, and new city offices.

The performance hall will be beautiful, with up-to-date facilities and acoustics, comparable in quality to the best halls throughout this country.

The exhibition hall will be much more flexible than our current hall, and it will have attractively covered loading and unloading facilities. The new hall is expected to be much better utilized and therefore should annually provide the City with more than $500,000 in additional revenue.

Currently, several city offices are in disparate leased spaces throughout the peninsula. They will be consolidated into a much more convenient location at Gaillard Center. By building the offices on land the city already owns, and owning rather than leasing, Gaillard Center will save taxpayers money.

The projected annual economic impact of Gaillard Center is extraordinary. It is estimated annually to exceed $62 million. And Gaillard Center will create nearly 1,000 construction jobs and almost 400 new, permanent jobs in the local economy.

A $62 million annual return on a $142 million investment is made even more compelling when we recognize how unique the timing is. By building Gaillard Center now, we save tens of millions of dollars in the cost, because construction costs are considerably lower than they were three years ago, and lower than they are expected to be in the future.

More importantly, catalyzed by the extraordinary generosity of an anonymous donor, private contributions will pay for half of Gaillard Center.

And that is why this is such a unique opportunity, one that we must seize.

Of course, the value of Gaillard Center goes way beyond its financial benefits and opportunistic timing.

Gaillard Center's true value is its contribution to the quality of life for our citizens.

Whether enriching their souls at an event in the world-class performance hall, participating in an expo or banquet at the exhibition hall, or conveniently accessing their city's services in newly consolidated offices, Charlestonians will enjoy and benefit from this great opportunity for generations to come.

Joseph P. Riley Jr. is mayor of Charleston.