City of Miami Presentation. June 12, 2014
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1 City of Miami Presentation June 12, 2014
2
3 Soaring 1,000 feet in the air, a beacon of the New Miami, the iconic SkyRise Miami will redefine the city s skyline. Perched on the shore of Biscayne Bay, SkyRise Miami will be Miami s most distinctive and visible building for decades to come.
4 Location
5 A BUILDING LIKE NO OTHER Wind base shear = 23 million pounds(1,500+ elephants) Designed to withstand wind speeds of 186 mph (1,700 year 3-second gust) Over 30,000 tons of reinforcing and structural steel (more than 3 Eiffel Towers) 1.15 million ft. of post-tension cable (218 miles or 425 tons of 0.6 strand). high 1,000 ft Driving 130 piles 150 ft. deep to support the tower 100,000 cubic yards of concrete (a 4 ft. wide sidewalk from Miami to Tallahassee)
6 SKYRISE MIAMI AT THE EPICENTER OF THE NEW MIAMI BAYSIDE MARKETPLACE PORTMIAMI CRUISE CAPITAL OF THE WORLD AMERICAN AIRLINES ARENA HOME OF THE MIAMI HEAT ADRIENNE ARSHT CENTER FOR THE PERFORMING ARTS PÉREZ ART MUSEUM MIAMI MIAMI SCIENCE MUSEUM BAYFRONT PARK MIAMI BEACH & SOUTH BEACH 23 MILLION ANNUAL VISITORS 4 MILLION+ ANNUAL VISITORS 820,000 ANNUAL VISITORS 450,000 ANNUAL VISITORS 200,000 PROJECTED ANNUAL VISITORS 550,000 PROJECTED ANNUAL VISITORS 500,000 ANNUAL VISITORS MILLIONS OF ANNUAL VISITORS
7 Pier Park
8 Pier Park
9 Pier Park
10 SkyRise Miami
11 The View
12 The View
13 40 Mile View
14 SKYRISE MIAMI ENTERTAINMENT SKYRISE SKY HIGH CLUB Miami and South Beach are already known for the finest, most exclusive private clubs anywhere. But the SkyRise s Club, perched almost 1,000 feet above the glittering skyline, will be one of the most exclusive in the world. SKYRISE OBSERVATION DECKS Miami s skyline and ocean views are already some of the most beautiful in the world. Now imagine how those views will be magnified by the soaring height and unlimited vistas of the SkyRise s three observation decks. SKYRISE RESTAURANT If fine dining is an experience, then the new SkyRise Restaurant will rival the finest dining anywhere. The only difference? This experience will begin almost 1,000 feet above Miami s incredible views. SKYRISE NIGHTCLUB All of the elegance and excitement of Miami s club scene will now be topped by this ultimate nightclub perched almost 1,000 feet above the earth. SKYRISE BALLROOM Major events in South Florida and the Americas will be planned in the SkyRise Ballroom, where each elegant event promises to be out of this world.
15 SKYRISE MIAMI MEMBER S CLUB AND OBSERVATION DECK
16 SKYRISE MIAMI MEMBER S CLUB AND OBSERVATION DECK
17 SKYRISE MIAMI MEMBER S CLUB AND OBSERVATION DECK
18 SKYRISE MIAMI MEMBER S CLUB AND OBSERVATION DECK
19 SKYRISE MIAMI CONCEPTUAL RENDERING MAIN INDOOR AND OUTDOOR OO OBSERVATION O DECKS
20 SKYRISE MIAMI ATTRACTIONS SKY PLUNGE Sky Plunge can be described as base-jumping using a sophisticated bungee-like safety system by which jumpers are attached to a high-speed controlled-descent descent wire. Or it can be described as, WhooHoooooo SKYRISE DROP Just like parachuting out of an airplane, riders will experience the thrill of free fall followed by the jolt of extremely rapid deceleration. SkyRise Drop Miami is destined to become one of the most exciting rides in the world. SKYRISE THEATER SKYRISE THEATER The dream of flying comes to life in our motion-based simulator. That only starts to explain the thrill of flight that theater-goers will enjoy in the SkyRise Theater. Similar to Soarin at Disney World s Epcot, the SkyRise Theater will make dreams a reality.
21 SKY PLUNGE 570Ft. Thrill Ride Only Plunge in the World Inside a Building Reaching Speeds of 55 MPH
22 SKY PLUNGE 570Ft Height Inside the Tower
23 SKYRISE DROP 650 Ft. Drop Tallest/Longest Drop in the World 12 Passengers 100 MPH Speed
24 SKYRISE DROP 650 Ft. Drop Tallest/Longest Drop in the World 12 Passengers 12 Passengers 100 MPH Speed
25 SKYRISE DROP
26 SKYRISE THEATRE Capacity 72 Riders 6 Minutes Duration Movie will Feature the Best Views of South Florida and Miami
27 SKYRISE THEATRE
28 SKYRISE THEATRE
29 SKYRISE THEATRE
30 TOP FIVE AMUSEMENT/THEME ATTRACTIONS IN FLORIDA MILLIONS OF VISITOR PER YEAR 907 WALT DISNEY Acres WORLD ORLANDO 235 Acres UNIVERSAL ORLANDO 335 Acres 200 Acres SEAWORLD ORLANDO BUSCH GARDENS TAMPA 1.85 Acres SKYRISE MIAMI ESTIMATED 3.2 MM VISITORS PER YEAR
31 Largest Attraction in South Florida
32 Largest Attraction in South Florida
33 SkyRise Miami: Miami s Eiffel Tower BACK
34 FAMOUS OBSERVATION TOWERS OF THE WORLD
35 FAMOUS OBSERVATION TOWERS OF THE WORLD EIFFEL TOWER SKYRISE MIAMI TOKYO SKYTREE ORIENTAL 250 MILLION+ Visitors Since 1889 Currently Averaging 7.0 Million Projected 3.2 Million Annual Visitors TOWER Currently Averaging 6.4 Million PEARL TOWER Currently Averaging 4.0 Million Annual Visitors Annual Visitors Annual Visitors
36 FAMOUS OBSERVATION TOWERS OF THE WORLD A Beacon of the 21 st Century Global Cities GUANGZHOU, CHINA TOKYO, JAPAN KUALA LUMPUR, MALAYSIA Canton Tower Tokyo Skytree Menara Tower SHANGHAI, CHINA Oriental Pearl Tower MACAU, CHINA Macau Tower
37 FAMOUS OBSERVATION TOWERS OF THE WORLD EIFFEL TOWER 250 M + Visitors Since 1889 Currently Averaging 7MM Annual Visitors EMPIRE STATE BUILDING 117M+ Visitors Since 1931 Averaging 4MM Annual Visitors TOKYO O NYC WORLD ORIENTAL SKYTREE TRADE PEARL TOWER CENTER TOWER Currently Averaging Projected Currently Averaging 6.4 MM 3.8 MM 4MM Annual Visitors Annual Visitors Annual Visitors
38 Envisioned by DDA
39 The Power of an Image The Power of an Image The image alone creates recognition
40 A place brand creates a narrative about a locality in order to make it recognizable to outsiders
41 Concept is utilized by Major US Cities to create recognition
42 Globalization (competition for global recognition has intensified)
43 What s the Eiffel Tower worth to Paris? 1. Eiffel Tower, Paris Billion 2. The Coliseum, Rome Billion 3. The Sagrade Familia Cathedral, Barcelona Billion 4. The Duomo Cathedral, Milan Billion 5. The Tower of London Billion 6. The Prado Museum, Madrid Billion Study by Italy's Monza and Brianza Chamber of Commerce
44 SKYRISE MIAMI An Economic Engine for the City of Miami
45 Economic Impact SkyRise Miami will be a game-changing asset of the Entertainment and Visitor Industry in Miami-Dade Country. SkyRise Miami i presence will enhance the State t and Miami-Dade i County s global brand as a top entertainment and leisure destination for both domestic and international visitors, creating thousands of jobs in a variety of industries. SkyRise Miami strengthens the Economic Development Strategy of Miami Dade and Florida in the targeted Entertainment and Visitor cluster of industries, that has been selected by The Beacon Council s One Community One Goal plan for additional expansion. SkyRise Miami will also be a top economic development generator for Miami- Dade by supporting the recruitment of new visitors to the area.
46 Summary of the Economic Impacts of SkyRise Miami During the Construction Phase to the City of Miami Source: The Washington Economics Group, Inc. August 2013 (WEG).
47 Summary of the Recurring Economic Impacts of SkyRise Miami During Operations on the City of Miami Source: The Washington Economics Group, Inc. August 2013 (WEG).
48 BENEFITS TO THE CITY OF MIAMI ANNUAL RECURRING REVENUES Guaranteed Minimum Rent - $1,059,082 o Escalation annual CPI increases with a 3% cap, plus as an adjustment every 10 years based on an appraisal process with a 10% cap over the immediate preceding year s minimum rent. Percentage Parking Revenues 6% of gross parking revenues for spaces located underneath the Tower. Percentage Rent 1% of actual gross revenues over $55 Million, excluding parking revenues for spaces located underneath the Tower. City s portion of real estate taxes on Tower improvements estimated at $1.4 Million after construction. Tower parking surcharge 15% of gross revenues estimated t at $337,500 in first year of operations.
49 ADDITIONAL BENEFITS TO THE CITY OF MIAMI 5,335 jobs during construction & 13,332 jobs during operations One of the largest private employers, if not the largest, within the City of Miami (900) Total Economic Impact during construction - $655 Million Total Annual Economic Impact during operations - $1.039 Billion Estimated $5 Million in permit / building fees to City of Miami Transfer Fee upon sale or transfer: 3% of gross selling price for first 5 years; 2% in years 6-10 and 1.5% thereafter 5,400 square feet fire sub-station and marina office (rent free) Iconic waterfront structure per Downtown Development Authority s master plan Iconic structure that enhances the City s global brand as a top entertainment and leisure destination The largest attraction in South Florida Terminal value of SkyRise Miami belongs to the City of Miami Fully reimbursed for any marina loss revenues during construction Millions of dollars of free marketing for the City of Miami AT ZERO INVESTMENT BY THE CITY OF MIAMI
50 City of Miami SkyRise Miami Revenues During Operations Million $ 18,000,000 Total 96 Years - $781.54MM 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 Year 1 Year 10 Year 20 Year 30 Year 40 Year 50 Year 60 Year 70 Year 80 Year 90 Year 96 Property Taxes Base Rent Tower Percentage Rent Tower Parking Surcharge Tower Parking Rent Tower
51 Million $ $40,000,000 City of Miami Bayside and SkyRise Miami Revenues During 99 Year Term Total 99 Years - $1.78 Billion $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $ Year 1 Year 10 Year 20 Year 30 Year 40 Year 50 Year 60 Year 70 Year 80 Year 90 Year 99 Bayside SkyRise Miami Surface Parking
52 City of Miami Revenue Comparison During Operation Pier Surface Parking vs. SkyRise Miami Millions Yearly Average Millions 96 Year Lease 96 Year Lease 800 MM 8 MM $781,544,356 $8,141, year lease difference in revenues totals $717,242,334 Difference in average revenues of $7,471,274 per year 400 MM 4MM 65 MM $64,302,022 $669, K Pier Surface Parking SkyRise Miami Pier Surface Parking SkyRise Miami
53 JOB CREATION/ECONOMIC IMPACT - IMMEDIATE TIMELINE JUNE 2014 OCT 2014 OCT 2015 DEC 2017 Commence Pilling Work Commence Foundation Construction Commence Vertical Construction OPENING
54 The TEAM Has built almost One Half a Billion sq. ft. of commercial and residential buildings.
55 Shanghai Tower 632 m Shanghai, China
56 Doha Convention Center Tower 426 m Doha, Qatar
57 World Finance Tower 212 m Shanghai, China
58 One World Trade Center 541 m New York City, USA
59 Highcliff Tower 252 m Dunedin, New Zealand
60 Burj Khalifa 828 m Dubai, United Arab Emirates
61 COMMUNITY SUPPORT SkyRise Miami s presence will enhance the state (Florida) and Miami-Dade County s global brand as a top entertainment and leisure destination among both domestic and international visitors. BILL NELSON US SENATOR, FLORIDA This project has the potential to provide necessary and significant investment capital to the South Florida region. SkyRise Miami stands for Miami s accession to the world s stage. I look forward to it assuming its prominent place in the Miami skyline. JOE GARCIA MEMBER OF CONGRESS SkyRise Miami has the potential to enhance Miami-Dade County s profile as a top destination for entertainment and leisure for both domestic and dinternational ti visitors. it DEBBIE WASSERMAN SCHULTZ MEMBER OF CONGRESS The first MMRC project -SkyRise Miami- is expected to create many thousands of permanent and construction jobs. I write to express my enthusiastic support for the development of the SkyRise Miami i project. In our current economic environment, it is vital that we stimulate job creation and growth, and I believe that SkyRise Miami will become Miami s Eiffel Tower and a symbol of Miami s growing stature as a 21st-century global city for business and leisure. CARLOS GIMENEZ MAYOR MIAMI-DADE COUNTY LARRY K. WILLIAMS President & CEO, The Beacon Council Expansive new job creation coupled with the potential for significant new public-sector revenues that will be generated by the project make the SkyRise Miami project economically compelling and a project supported by The Beacon Council. WILLIAM D. TALBERT III, CDME President & CEO, Greater Miami Convention & Visitors Bureau Miami is a destination of superlatives- the largest boat show, the richest art show, the biggest outdoor art festival, the best weather, the newest museums, the most beautiful people, the most exquisite beaches. And now the destination everyone wants to visit will be home to the attraction everyone will want to visit. SkyRise Miami. It s so Miami! BARRY JOHNSON President & CEO, Greater Miami Chamber of Commerce Like the Eiffel Tower and the St. Louis Gateway Arch, SkyRise Miami will be a strong, recognizable symbol and another element to solidify Greater Miami s leadership position among the top global destinations. And, it s so Miami. ALYCE M. ROBERTSON Executive Director, Miami Downtown Development Authority The SkyRise Miami project is consistent with and furthers the 2025 Downtown Miami Master Plan s call for an iconic waterfront element along Biscayne Bay. We welcome you and SkyRise to an increasingly vibrant Downtown Miami
62 Make SkyRise Miami Part of Your Legacy
63 ELEVATING MIAMI TO NEW HEIGHTS
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