Feb. 26, 2025

In their February meeting, the BCTDA Board of Directors received an annual update on the authority's Tourism Product Development Fund (TPDF) and Legacy Investment from Tourism (LIFT) Fund community capital projects. Since both funds' inception, the authority has committed $96 million to 51 community projects across Buncombe County. Last year alone, the authority invested in 12 new projects through the inaugural LIFT Fund, demonstrating continued commitment to local development. Looking ahead, four TPDF projects are slated to open before the end of this fiscal year.

Leading these upcoming openings, the YMI Cultural Center is welcoming residents and visitors after completing a five-year renovation. We invite you to join us in celebrating this significant milestone for The Block and our entire community tomorrow, February 27, with a ribbon-cutting ceremony beginning at 3:30 pm.

Additionally, consultants from Zartico presented data revealing Hurricane Helene’s impact on visitation patterns, in-market spending, visitor volume, and dispersal across Buncombe County. Their research specifically highlights the critical role that festivals and events, such as RADFest 1.0 and Asheville Restaurant Week, play in attracting more customers and raising awareness about reopened businesses and attractions.

Building on this insight into the importance of local events, the authority approved $75,000 of investment for 21 local festivals and cultural events this year through the Festivals & Events Cultural Support Fund. This timely funding will help maintain the vibrant cultural offerings that are essential to the region's recovery and cultural spirit.

The next big event coming to our community as part of a multi-year partnership is the Southern Conference Basketball Championships and the inaugural SoCon Wrestling Championships March 7–10. Tickets are still available and we hope you plan to attend!

Historically, January is our slowest month, averaging a 40% occupancy rate; however, this year, hotels defied that trend. January 2025 hotel occupancy was 61%, up 18 points from 2024 and 12 points from 2019. This trend is likely due to emergency and recovery contractors, and it may persist in waves into the future, following trends from other markets that have rebounded from natural disasters.

Vacation rental occupancy was 34%, up three points from 2024 and down only five points from the height of vacation rental occupancy during the pandemic.

Explore Asheville partnered with Zartico, a visitor economy data consultancy, to monitor visitor markets, spending patterns, volume, and dispersal after Hurricane Helene. The analysis compared anonymized geolocation cell phone and credit card data before and after the storm to detect the evolution of behaviors, revealing four key themes:

Historically, 78% of overnight visitors came from Explore Asheville's target markets: 42% from drive markets, 13% from direct flight markets, and 23% from in-state markets. Since October, residents have supported a larger share of economic activity in Buncombe County than visitors, and this local spending has been significant for the local economy during its recovery.

From October to January, Zartico data revealed a gradual transition in visitor type from emergency rescue workers to the return of in-state and drive market visitors. December marked a shift away from relief-focused activities to increased spending and visitation downtown. In January, the transaction volume rose by 15% for residents and 3% for visitors from the five nearby counties, mainly at food and beverage establishments, in part due to the Asheville Area Chamber of Commerce’s Restaurant Week.

While the River Arts District understandably experienced a significant drop in business transactions following Helene, River Arts District Artists’ RADFest 1.0 recorded the highest number of transactions in the district following the storm. A nearly 400% increase in transactions during the week of RADFest 1.0 sustained a lift of 72% in the following weeks, demonstrating that events are a powerful catalyst for inviting economic activity back to our community.

In an annual update on TPDF and LIFT community investments, staff reported that 31 projects remain active, 27 projects are in development, and four were completed last year. Six of the 27 projects in development are in pre-construction and 21 are under construction.

Thirty-two million dollars has been allocated for 19 active TPDF projects, with nearly $5 million already distributed. Regarding the LIFT Fund, $10 million was approved for 12 projects last year, though no funds have been distributed to date due to stalled timelines.

Last year, six grantees anticipated completing their projects in the second half of 2024, but all faced delays due to vendor issues, funding, and permitting challenges. Hurricane Helene worsened these setbacks, introducing new obstacles like limited access to sites, a tough fundraising climate, and prioritization of recovery needs over capital projects.

Certain projects have yet to be fully evaluated following Helene, and some will require additional feasibility reassessments. The City and County are waiting to prioritize capital projects until recovery costs are determined, which creates challenges for staff to accurately project timelines for these initiatives.

YMI Cultural Center's grand re-opening is tomorrow, marking the completion of a project awarded in 2018.

North Carolina Glass Center in Black Mountain received its certificate of occupancy last week and plans to open for classes in March, with full operations by the end of May.

Asheville Botanical Gardens renovations are expected to be complete by the end of June.

WNC Nature Center will reopen to the public next month and hopes to complete its Gateway to the Southern Appalachians project by mid-July.

McCormick Field Centennial Restoration & Capital Improvements Project | Construction for the City’s McCormick Field project was paused for a month but is still on track to be completed before the 2026 baseball season.

Enka Recreation Destination – Phase II | Buncombe County is moving forward with improvements despite budget uncertainty due to the loss of other turfed fields at JBL. Phase I is expected to be completed by the end of 2026, with Phase II finished by June 2027.

Asheville Black Cultural Heritage Trail – Phase II | The first of three murals is in progress and will be completed by this spring. The other two murals, including one in the River Arts District, have been postponed until next year.

WNC Agricultural Center Equine Facility Modernization | The project was delayed several months as the facility became a staging center for emergency supplies and a shelter for those affected by Helene. Completion is now expected by August next year.

Blue Note Junction – Phase I | Hood Huggers Foundation made significant design changes to meet zoning requirements and expects to be completed next year.

Gateway Park | RiverLink’s new park has postponed construction until next year due to delays in the County’s passive recreation bond process.

Red House Gallery & Studios | The Black Mountain project is set to open by year-end, despite flood mitigation on the lower level.

AMOS Museum Repair and Expansion | Both projects are expected to be complete by the end of this year.

Today, the BCTDA approved a total of $75,000 of investment for local cultural events and festivals at a time central to the region’s recovery. The authority’s financial support aims to bolster community recovery and revitalization by reviving legacy events and launching new experiences that inspire visitation and spark local pride in 2025.

Twenty-one community festivals and cultural events will receive investment through the annual Festivals & Cultural Events Support Fund this cycle, spotlighting, celebrating, and honoring the culture and heritage of our mountain region throughout the year and in different communities across the county. Thirty-three percent of the recipients are hosting inaugural events.  

SoCon Week is swiftly approaching. From March 6–10, Asheville will host both the 2025 Ingles SoCon Basketball Championships at Harrah's Cherokee Center – Asheville and the 2025 Explore Asheville SoCon Wrestling Championships at UNC-A's Kimmel Arena. Founded in 1921 and the fifth-oldest league, the Southern Conference (SoCon) is a NCAA Division I collegiate athletic conference that includes 10 institutions competing in a wide range of sports. 

Don't forget to join us for the first-ever SoCon Business Leaders Forum an exclusive session offering local and regional business leaders the opportunity to explore the critical intersection of leadership, mental health, and recovery—essential topics for today’s workplace and in the wake of what we’ve endured together following Hurricane Helene. Capacity is limited, register by Feb 28.

MORE INFORMATION & NEXT MEETING OF BCTDA

Find documents from the February 26 board meeting HERE >>

THE NEXT BCTDA BOARD MEETING
Thursday, March 27 | 9–11 a.m.
Explore Asheville | 27 College Place
Details to be posted HERE >>

2025 ANNUAL PLANNING SESSION
Friday, March 28, 2025 | 9:30 am–4 pm
Details to be posted HERE >>

Delivering Balanced 
& Sustainable Growth

Encouraging Safe & Responsible Travel 

Engaging & Inviting More Diverse Audiences

Promoting & Supporting Asheville's
Creative Spirit