Wallace proposes $2.2 million renovation of George's

By RON LARSEN

Journal Staff Writer

NEW ULM -- Keith Wallace is in a race against the clock because he has until April 1 to arrange financing for saving George's Ballroom from possible demolition.

That's when the New Ulm City Council will take up Wallace's proposal. His was one of two proposals submitted for consideration, and it is the only one that the council will be reviewing.

The New Ulm medical systems engineer needs to get commitments of $300,000 from investors and $1.5 million from lending institutions to fund a $2.2 million renovation of the historic ballroom, turning it into a bar, 24-hour restaurant, dance hall and recording studio.

In addition to the $1.8 million in private financing, Wallace hopes to get $450,000 in tax increment financing from the city and $150,000 from the county toward asbestos abatement.

He has a contractor's quote that asbestos abatement alone will cost $160,000. Wallace admits getting the county to come up with $150,000 is iffy.

"It was an idea that I had, but I've been told since, 'Don't count on it,'" Wallace said. "I figured it was better to ask and maybe get some consideration than to not ask at all."

It's his intent, Wallace said, to maintain the name George's Ballroom, and he has a $40,000 estimate for restoring the marque and new signage. Interior construction is estimated to cost $850,000, and plumbing and air handlers account for an additional $335,000. Then, there's $12,000 in permits and licenses from the city.

Insulating and redoing the building's roof are expected to cost $195,000, and a sprinkler system will chew up another $70,000. In all, renovation is expected to cost $1,906,145.

Start-up costs, Wallace estimates, will add another $317,000, making a grand total of $2,223,145.

In his proposal, Wallace is quick to point out that "there will be no 'adult theme' activities" in the renovated ballroom. He plans a multi-use restaurant that will seat 350 with a stage for dinner theater events.

A folding wall would subdivide the restaurant into space for banquet groups that too small for the ballroom. The restaurant will be closed only for certain unspecified holidays.

Wallace promises activities "for all ages," including wedding dances, teen dances, pool and dart tournaments, band concerts, as well as DJ and VJ events. His plans include a concessions stand to serve such events.

He said the ballroom also will be available for public and private parties, conferences and conventions. There will be a small stage, as well, in the bar for "karaoke, small bands, or maybe an open mike night."

If given the go-ahead, Wallace plans to have the ballroom completed within a year and the restaurant and bar open in time for the city's 150th anniversary celebration, which is scheduled for Aug. 12-15, 2004.

Wallace, who labels himself a "trouble-shooting, problem-solving inventor," has three goals in renovating the well-known ballroom:

"To provide quality entertainment for and with the community, a wholesome environment where everyone can have fun and to work with the community to provide a forum that has something for everyone."