Over the past few years, and, as theater operators and performers, the Laugh Boston ownership team noticed a dearth of stand-up venues in Boston in the mid-level range. While there are a few remaining clubs in the 100-150 capacity, there remains a gap with no mid-range club. Because of that gap, the comedy scene has suffered greatly. A good portion of national names, and certainly regional and local stars, do not have the ability to "sell" a larger theater. As a direct result of the gap in Boston's market, the performers are forced to work in other cities and industries, such as convention appearances and cruise ships.
There is an extremely strong market for matching incredible talent with mid-size audiences at a reasonable price point.
The new $800 million Convention Center opened in 2004 and is attracting an estimated 1.1 million conventioneers annually. Thousands of new office workers and residents are adding to the mix in the Waterfront District. Manulife Financial's 500,000 sq ft U.S. Headquarters (now merged with John Hancock) building is next to the new Marriott Renaissance Hotel. The one million sq ft Seaport East and West Office Towers are nearly 100% leased with Fidelity's World Headquarters as the anchor tenant. The 793-room Westin Hotel (plans are already in place for a 500-room expansion) has joined the Seaport Hotel and the new Marriott Renaissance to bring the total number of hotel rooms in the immediate area to over 1800.
With over 30 million square feet of proposed mixed-use development either open, under construction, or in the planning phases, the redevelopment of the Boston Seaport area is one of the largest urban developments in the country and the area is well on its way to becoming a vibrant 24-hour neighborhood.