BB&T Center, Broward County, FL June 5-10, 2016

Transcription

1 BB&T Center, Broward County, FL June 5-10, 2016

2 About the Urban Land Institute The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is a membership organization with over 38,000 members, worldwide representing the spectrum of real estate development, land use planning and financial disciplines, working in private enterprise and public service. What the Urban Land Institute does: Conducts Research Provides a forum for sharing of best practices Writes, edits and publishes books and magazines Organizes and conducts meetings Directs outreach programs Conducts Advisory Services Panels 2

3 June 5-10, 2016 The Advisory Services Program Since panels a year on a variety of land use subjects Provides independent, objective candid advice on important land use and real estate issues Process Review background materials Receive a sponsor presentation & tour Conduct stakeholder interviews Consider data, frame issues and write recommendations Make presentation Produce a final report 3

4 June 5-10, 2016 Thank You to Our Sponsors 4

5 June 5-10, 2016 Panelists Richard Gollis, Panel Chair The Concord Group LLC; Newport Beach, CA Pat Hawley, R.A. Smith National, Inc.; Brookfield, WI Matt Hopkins, Streetsense; Bethesda, MD Donna Lewis, Former Mercer County NJ Planning Department; Fernandina Beach, FL Rameez Munawar, Columbia Property Trust; Washington DC Amber Richane, CallisonRTKL; Los Angeles, CA Dean Schwanke, ULI The Urban Land Institute; Washington DC Rives Taylor, Gensler; Houston, TX 5

6 Panel Assignment Broward County seeks a comprehensive development vision for transforming the site into a dynamic destination that is complementary to the existing sports and entertainment facility, surrounding neighborhoods, businesses, and developments that are both planned and underway. Development of the site should generate positive economic returns to the cities and the County. 6

7 June 5-10, 2016 Panel Assignment Development and economic potential Short- and long-range development scenarios and challenges given current and projected market conditions Design and sustainability principles Potential approaches in an overall development concept Connectivity How to better connect the site and maximize its proximity to surrounding areas Implementation How to phase development and allow for flexibility to accommodate varying market demands 7

8 Methodology General assignment and preliminary research Public kick-off meeting Briefing and Tour + Public Reception 40+ Stakeholder Interviews Panel Analysis and Deliberations Report and Presentation Preparation Presentation of the Panel s Findings Report Following 8

9 Outline Introduction Richard Gollis Development Potential Rameez Munawar Sustainability and Site Scenarios Rives Taylor, Amber Richane Connectivity Pat Hawley Development Strategies Matt Hopkins Implementation Donna Lewis, Dean Schwanke Summary Richard Gollis 9

10 June 5-10, Big Moves Strategy 1.0 Recognize the District Beyond the Site Planning to encompass broad area Identity for Downtown West Broward 2.0 Plan for long term flexibility across the entire site (2040+) Future-proof for Resilience Arena optionality post-2028 Gaming is imminent Office and Tech employment center needed 3.0 Capture immediate opportunities ( ) Entertainment Mixed-Use (including Boutique Hotel and Housing) Plaza for Civic benefit Limit cross-competition in the market 4.0 Utilize all available tools to kick-start community and economic benefits Implications Land value deferred in Public/Private Partnership Long term cash flow stream from tax base and participating ground lease (NOI share) 5.0 Champion the site Downtown West Broward Leadership Council Private Sector and Public Official Co-Chairs Manage the process Advocate for the District overall Focus on the site development 10

11 Regional Context 11

12 Study Area and District Context 12

13 Site Concept: Current.Opening Entertainment Core Civic Plaza Boutique Hotel Rental Apartments Parking Sports Fields with Stormwater Storage Edu-tainment Wetland 13

14 Site Concept: Future..to 2040 Arena in place Family Entertainment Hotel Executive Hotel Office Tech Campus Additional Residential Parking 14

15 Site Concept: Future Alternative to 2040 Arena Redevelopment Office Tech Campus Additional Residential Casino Resort 15

16 June 5-10, 2016 Development Potential 16

17 June 5-10, 2016 Demographic Profile Population Growth Year Sunrise Broward ,000 1,750, ,000 1,895, (Proj.) 99,000 2,015,000 Growth 1.2% 1.2% Household Income Income Sunrise Broward Under $50K 50% 49% $50k - $75k 18% 17% $75 - $100k 12% 12% Over $100k 20% 22% Head of Household Age Profile Age Sunrise Broward % 16% % 38% % 46% Source: Claritas, American Fact Finder 17

18 Renter Profile Percentage of Renters of Total Household Income Total Households Sunrise Broward Under $50k 17,772 36% 44% $50 - $75k 6,282 27% 34% $75 - $100k 4,490 30% 28% $100- $150k 4,876 22% 20% Household Size of Renters Size % of Total 1 Person 25% 2 Person 31% 3 Person 18% 4+ People 26% Age of Renters Age Sunrise Broward % 31% % 22% % 20% % 27% Source: Claritas, American Fact Finder 18

19 Employment and Commute Percentage of Renters of Total Household Sunrise Broward Jobs 76, ,137 Employed Labor 38, ,828 Ratio 2:1 1:1 Commuters into Sunrise Distance % of Total Under 10 Miles 53% Miles 31% 25+ Miles 16% Source: Center for Economic Studies, U.S. Census Sunrise Residents Location of Work Sunrise 14% Ft. Lauderdale 13% Plantation 6% 19

20 June 5-10, 2016 Office Strength: Vacancy 10-12%, rent growth steady, pending pre-leasing activity; core existing international and regional firm presences; emerging technology sector Weaknesses: Lack of leasing velocity or market depth to justify speculative construction at large scale; rent levels support conventional surface-parked suburban space Source: Claritas 20

21 June 5-10, 2016 Retail Strength: International tourist magnet at Sawgrass Mills drives retail performance. Expansion of Mills, and new development at Metropica add to destination environment. Weaknesses: American Dream Mall presents significant regional competition (although theme park focused) Source: Claritas 21

22 June 5-10, 2016 Rental Apartments Strength: Vacancy declining, rent growth steady and positive, market has yet to tap into millennial demand with state of the art product. New employment sectors are leading edge for long term success. Weaknesses: Population weighted towards 55+, strong tendency towards home ownership, desire to be close to employment centers near Miami and Ft. Lauderdale. Rents not yet hitting threshold for higher density, structured parking solutions. Source: Claritas 22

23 June 5-10, 2016 For-Sale Housing Strength: Median sales price steadily growing, aging demographic prefers home ownership and lower-maintenance lifestyle. Weaknesses: Pipeline of units in Metropica and Artesia represent significant local inventory. Latin American economic volatility impacts higher end sales prices. Source: Claritas 23

24 June 5-10, 2016 Sustainability 24

25 Panel Sustainability Focus The types of design principles and sustainability practices (including density thresholds, streetscape designs, building placement, and landscape and green infrastructure) that should be used to ensure that high-quality development occurs on the site; The feasibility of using existing natural resources, particularly the wetlands area, to create additional open space as a community amenity; The potential of future development to better connect the site and maximize its proximity to surrounding developments, the Everglades and the region through improved walkability and with various forms of transportation (vehicular, transit, and bicycles); 25

26 Site Influences Viewsheds In & Out Natural Transit Edges Connections Neighbors apartments N Retail 26

27 Site Assessment: Water story Stormwater Detention Wetlands Bioswales Freshwater Pumps/Aquifer Water Flow Future? Future? Future? N 27

28 Site Assessment: Climate Analysis 28

29 June 5-10, 2016 Site Assessment: Climate Analysis Design priorities: Address hot summer day comfort. Address hot summer night comfort. Minimize radiant heat risk (via solar conduction). Maximize effective natural cross ventilation - day and night. Use solar energy potential (renewables). Minimize storm risks (flood, downpours, wind). If an issue prevent insect access whilst permitting ventilation. - micro-climate Top of slope (wind exposure). East facing (lower solar exposure in afternoons). Open spacing for breezes, but protect from cold/hot wind (use planting). - urban street pattern: Buildings/streets degrees oblique to prevailing wind, respond to secondary wind. Respond to times of low wind speed, often at night; orientate to utilize such wind in worst case situations (low wind, peak heat/humidity). Loose urban patterns, orientated to prevailing winds promote breezes - avenues, connect to perimeter green belt, more open spaces. Buildings - parallel to prevailing winds, taller variable height blocks force wind down to street level Urban heat island reduced by height, vegetation, color, high albedo (esp. roofs, parking). Street shading - reduces surfaces heating up, shades pedestrians (in humid climates it should not block breezes) N Annual Wind Range 29

30 June 5-10, 2016 Goals/Alignment with local Sustainability/Resilience Opportunities Best Practices 30

31 June 5-10, 2016 Broward County Climate Action Plan There are two overarching goals for this plan: 1. Mitigate the effects of climate change by reducing greenhouse gas emissions by 2% per year by 2020, ultimately leading to a total 80% reduction by 2050, and 2. Increase the resilience of our community to the effects of climate change. 31

32 June 5-10, 2016 Broward County Climate Action Plan On site strategies: Develop habitat buffer zones Encourage urban reforestation Natural systems utilization Increase tree canopy (target 40%) Continue local water conservation programs Protect wellfields Develop alternative water supply strategies Evaluate reuse water interaction with and impacts to the natural systems Increase percentage of pervious areas Install LED streetlights and garage lighting Integrate bike share program with Complete Streets Reduce urban heat island effect Apply models to develop resilient design standards Engage private sector to develop strategies for adapting energy infrastructure 32

33 June 5-10, 2016 Broward County Green Infrastructure Goals Green Infrastructure: Broward County is committed to protecting and enhancing local and regional ecosystems, optimizing the co-benefits of habitat restoration, coastal buffers, wetland mitigation, urban reforestation, and expanded green infrastructure, in order to create a healthy, enjoyable, and climate resilient environment. Green infrastructure is an interconnected system of natural areas and natural services that conserves ecosystem values, helps sustain clean air and water, and provides benefits to people and wildlife. 33

34 June 5-10, 2016 Aquifer Water Regional Water Supply Protection County-wide: Climate change presents serious challenges for water managers with impacts on the quality and abundance of water supplies, water and wastewater infrastructure, and drainage and flood control operations. On site Strategy: Ensure existing water resources are protected and remain available through conservation and sustainable management. Preserve capacity by diversifying source alternatives. Balance the water needs of public consumers and natural systems. Consider location of hazardous materials and on-site power generation 34

35 June 5-10, 2016 Everglades Stewardship and Opportunity County-wide: Everglades provide values that no other ecosystem can. On site Strategy: Elevate/restore western wetland to Everglade Edu-tainment piece, with family boardwalk and envir-science center Sometimes called the "River of Grass," the Florida Everglades is one of the most extensive, complex, and renowned wetland ecosystems in the world 35

36 June 5-10, 2016 Storm water Mitigation, including Low Impact design, bioswale, wetland, canal and lake focus FRESHWATER APPROACH Water management resources currently on site: 18 acres Basin 8 2,400 acres Typical commercial development acreages for remaining 50 acres 35% to 40% building area 15% water management areas Strategy: Combined collection for local reuse (rooftops) with recharge via ground green spaces Parking lot water quality mitigation Bioswales threaded throughout 40 acre feet compensatory storage under playing fields 36

37 June 5-10, 2016 Green Space Expansion Sustainable Sites/Green string of active pearls for the community On Site Strategies Protect site habitat - Site building to preserve areas of high biodiversity, create exclusion zones ; Active and passive recreation extend City approach and resources Walking and biking linear trails as water retention, biodiversity Compensatory storage under playing fields Green screens frame public space, activated/inhabited, green roofs 37

38 June 5-10, 2016 Resource Stewardship in Site and Building Design: water use optimization and reuse On site strategy: Water demand by scale for urban office building, some amenity and retail: Cooling Towers Fixture loads- restrooms, showers Process loads such as kitchens Irrigation of green roof, ground green space Water demand reduction (in all cases/any water supply) Fixtures (aim for 50% low flow reduction strategy) low flow/drip irrigation with rain gage and cooling tower make up strategies Supply: Collection of rain water from roofs, condensation, garage perimeter drains Treatment: Base filtration, perhaps some chemical Storage Concrete or pre-fab Cisterns in garage levels, corners and under ramps and part of public space Use: Cooling towers, toilets, purple pipe irrigation (external to building) 38

39 June 5-10, 2016 Resource Stewardship: energy use optimization and generations On Site strategy Step 1 Design for Best Orientation and Envelope Design: Step 2: Design for Passive systems moving air, water capture and storage, employing daylight etc. Step 3: Design for Systems effectiveness Step 4: Operator and Inhabitant Behavior Alignment Step 5: Chose the right energy for the right use Step 6: On site renewable energy 39

40 June 5-10, 2016 Sustainability Financial Incentives 35 programs applicable to Broward County 45

41 June 5-10, 2016 Site Scenarios 46

42 June 5-10, 2016 Existing Arena Park n Ride 47

43 June 5-10, 2016 Site Programming Scenarios Flexible scenarios allow for optionality of major land uses. Development pads are phased over time to meet market absorption potential. Initial Land Uses Introduction Programming Scenarios (Range) Rental Apartments ,000-1,400 Units Entertainment Core , ,000 Sq Ft. Hotel - Boutique Keys Hotel - Executive Keys Family Resort Keys Office (Mid and High) ,120,000-1,620,000 Sq Ft. Casino Resort Keys 48

44 June 5-10, 2016 Bubble Diagram 49

45 Site Concept: Phase 1 (Opening 2021) Entertainment Core 40k Rental Apartments 200 d.u. South Parking Deck Sports Fields w. Sub-surface Compensatory Stormwater Storage (40 ac.ft) Edu-tainment Wetland / Everglade 50

46 Site Concept: Phase 2 ( ) Family Entertainment Hotel 400 keys Rental Apartments +200 d.u. Mid-rise Office 320k Parking Deck South Extension North Parking Deck 51

47 Site Concept: Phase 3a ( ) With Additional Office Additional Office +200 d.u. Multi-family Residential North Parking Deck Extension 52

48 Site Concept: Phase 3b ( ) With Casino Resort Casino Resort +200 d.u. Multi-family Residential North Parking Deck Extension 53

49 Site Concept: Phase 3c ( ) Arena Redevelopment High-rise Office Residential Additional Parking 54

50 Block Sizes LA Live Mizner Park Mardi Gras Casino Great Wolf Lodge 55

51 Site Concept Summary Site Concept 3a Apartment: 12 ac Entertainment Core: 2 ac Hospitality: 14.5 ac Site Concept 3b Apartment: 17 ac Entertainment Core: 4.5 ac Hospitality: 14.5 ac Site Concept 3c Apartment: 17 ac Entertainment Core: 3 ac Hospitality: 14.5 ac Office: 4 ac Office: 8 ac Office: 8 ac Casino: 0 ac Casino: 16 ac Casino: 16 ac 56

52 June 5-10, 2016 Connectivity 57

53 Vehicular Connectivity Realities Existing Traffic Issues Sawgrass Expressway interchanges with Sunrise and Oakland Park Hockey game and concert releases, particularly northern intersections 58

54 Vehicular Connectivity Recommendations Support Sawgrass Expressway improvements Mainline expansion New interchange at NW 8 th Interchange upgrades at Sunrise and Oakland Park Continue to pursue northern ramps for Pat Salerno interchange Improves site marketability Improves traffic flow, but not critical from traffic operations perspective 59

55 June 5-10, 2016 Vehicular Connectivity Recommendations Narrow Panther Parkway to 4-lane divided roadway for quarter-mile middle segment 60

56 Vehicular Connectivity Recommendations Narrowed roadway example 61

57 Vehicular Connectivity Recommendations Enhance wayfinding signage on streets and expressway into branded district plan Require comprehensive traffic study as part of BB&T development approval to identify improvement plan Support and promote a transportation sales tax 62

58 Transit Connectivity Realities Immediate area served by four local routes and two express routes Broward County s 10-year plan includes Bus Rapid Transit (BRT) for three of the local routes Existing ridership is transit dependent 0 to1 vehicle ownership Lower income Different demographics than proposed area developments Projected ridership numbers do not support light rail 63

59 Transit Connectivity Recommendations Support Bus Rapid Transit Continue to evaluate Light Rail IF projected ridership numbers increase significantly Pursue circulation system(s) as developments come on-line Sawgrass Mills BB&T Site Sawgrass Corporate Park Incorporate transit center in BB&T site 64

60 Pedestrian Connectivity Realities Limited pedestrian activity on BB&T site to date Good external connectivity with sidewalks along streets Limited accommodations to bring the pedestrians from the street to the internal sites of BB&T and Sawgrass Mills 65

61 Pedestrian Connectivity Recommendations Recreational trail on site perimeter Enhance pedestrian crossings along NW 136 th Avenue/Panther Parkway Signalized intersections Midblock pedestrian crossing 66

62 Pedestrian Connectivity Recommendations Raised pedestrian crossing examples (for speeds under 35 mph) 67

63 Pedestrian Connectivity Recommendations Pedestrian overpass example 68

64 Pedestrian Connectivity Recommendations Pedestrian overpass example 69

65 Bicycle Connectivity Realities Minimal bike accommodations in immediate vicinity No bike lanes High speed, higher volume roads Early stages of complete streets initiatives 70

66 June 5-10, 2016 Bicycle Connectivity Recommendations Continue to implement City s Bike Plan, including bike lanes along NW 136 th Avenue/Panther Parkway 71

67 June 5-10, 2016 Bicycle Connectivity Recommendations Follow Broward County s Complete Streets initiative 72

68 June 5-10,

69 Bicycle Connectivity Recommendations Complete Streets example 74

70 June 5-10, 2016 Bicycle Connectivity Recommendations Complete Streets example 75

71 Bicycle Connectivity Recommendations Evaluate bike share program (Broward B-cycle) as potential long term strategy 76

72 June 5-10, 2016 Development Strategies 77

73 Development Strategy The development potential discussed in the earlier analysis suggests that there is a conservative initial demand for new development on the site, but over time there will be an increasing opportunity for developing a variety of uses on the site at varying densities. This strategy is focused on a development approach that will allow for a realistic organically grown residential, entertainment and office environment with a strong potential for large entertainment uses. Live/Work/Play Mixed-Use 78

74 June 5-10, 2016 Development Strategy Phase 1 The Primer Starts the Development; Leverages BB&T and the Mall; Begins Urbanization Phase 2a The Anchor(s) Large attraction; Family Oriented Phase 2b The Neighborhood Completes the Urban Fabric Over Time Phase 3 The Arena OR The Campus If they stay or if they go 79

75 Site Values Entertainment Retail Connection Placemaking BB&T Visibility Access Activity Density 18 hours F F B C B+ B+ A C C B+ B+ B C 80

76 Site Values - Anchors Gaming Family Resort Music Pavilion Separation Security Large Street Wall Noise C C B B A A A A A A B+ 81

77 Site Values - Residential Ped Connection Noise BB&T Views Resi Neighbors Amenities Security Self-contained C A A C B B C B A A A 82

78 Site Values - Office Visibility Access Separation Limited Activity Off hours Dark Shared Parking A+ C B A A B A B B B+ C 83

79 Development Strategy The Primer Phase 1 Immersive Vibrant Dense A Public Plaza Flanked by 4-5 Story Buildings Pedestrian Focused Entertainment Core Needs Supportive Uses for Viability Residential Urban Environment Boutique Hotel with Event Space 84

80 June 5-10, 2016 Development Strategy The Primer Plaza Connect to BB&T and the Mall Placemaking for Public & Private Programming decorative fountains, zero depth fountain play areas, flexible public seating, as well as, programmed fixed seating and other landscape features that would create a pedestrian-friendly atmosphere, including outdoor dining areas Raised Plaza or not Rear Structured Parking Must Allow Car Access the Plaza 85

81 June 5-10, 2016 Development Strategy The Primer Connection 86

82 Development Strategy The Anchor(s) Phase 2a Modern Tech Business Complex Large Fitness Destination Family Resort Music Venue Retail Concept Gaming Resort Large Outdoor Pavilion Sports Entertainment Concepts 87

83 Development Strategy The Neighborhood Phase 2b As the Market Increases Residential in Standalone Development Blocks Create Passive and Active Green Space Stage Replacement of Parking in Central Decks Office Should Pursue Innovation Tenants 88

84 Development Strategy The Arena or The Campus Phase 3 Great Site for Dense Campus Single User or Single Use or Multi-Tenant Office Tech/Bio-Tech/Innovation Medical Research/Tourism/Health Educational Tech/Med Residential Towers with Neighborhood Retail 89

85 Development Strategy The Brand Town Centers Demand a Strong Brand Partnering (Sports, Fanatics, Fitness, Environment ) Become a Casual Destination Hip Fun Vibrant Bright Healthy Programming Wayfinding Marketing 90

86 Development Strategy The Street 91

87 Development Strategy The Street 92

88 Development Strategy The Street 93

89 Development Strategy The Events 94

90 Development Strategy The Events 95

91 June 5-10, 2016 Development Strategy The Primer Local Programming 96

92 June 5-10, 2016 Development Strategy The Primer The Plaza

93 June 5-10, 2016 Implementation 98

94 Implementation Expectations Organizational Structure Public Participation Due Diligence RFQ for Master Developer Timeline 99

95 Implementation- Expectations 100

96 Implementation-Organizational Structure Create Downtown West Broward Leadership Council Serve as champion for development of the site Co-chaired by public official and a private sector representative Advocate, shape, market and lobby for development Actively seek and engage stakeholders Agree on measureable goals for the development Streamline approval process through greentape task force 101

97 Implementation-Public Participation Public participation is more than the usual suspects attending a public meeting Process not a single event Involves a wide range of stakeholders Opportunity to inform stakeholders Opportunity to ensure that stakeholders understand opportunities and constraints as well as proposals Opportunity for 2 way feedback Use social media and computer applications to expand the reach of the Public Participation program Consider engaging a Certified Professional Facilitator to help design and implement the process. 102

98 Implementation-Due Diligence Risk can be minimized by conducting due diligence Assemble and organize all existing information related to the site Identify gaps in information Fill in the gaps 103

99 June 5-10, 2016 Implementation-Master Developer County and City, in consultation with the Council, to jointly Issue a Request for Qualifications (RFQ) to designate a Master Developer for the site. RFQ to include a clearly articulated vision and goals that have been jointly developed by the County, City and Council ensuring that the development is complimentary to existing surrounding land uses Master Developer to refine concept plans to facilitate site development consistent with the articulated vision and goals. Master Developer must demonstrate the financial, technical and relational capacity to implement the program 104

100 June 5-10, 2016 Programming and Civic Engagement Downtown districts and town centers work best when the community embraces the development and views it as there own. The Leadership Council should reserve the right to bring civic events to the town center plaza on a regular basis. Community groups should be encouraged to schedule events in the plaza such as fun runs, fitness classes, art fairs, farmers markets, holiday markets, moonlight movies, or high school band performances. The master developer should be encouraged to program and manage the space to maximize the number and quality of events. These events will bring people to the development and establish it as an important civic realm. 105

101 Implementation Timeline Long-term 20+ year development timeframe. County/City Predevelopment: Phase 1: Phase 2: Phase 3:

102 County/City Predevelopment Timeline 2016: County and city works to assemble a core group from the county, city, property owners, and business leaders to establish the Downtown West Broward Leadership Council. 2016: Leadership Council begins managing development of this project and also works as a champion for the project, including developing new brand for the district. 2016: County/city contracts with a consultant with expertise in public-private development and land leases, to assist with the RFQ process and in negotiating an agreement with the master developer. 2017: Determine what kind of public entity, such as a downtown development authority or a special district entity, could or should be established to oversee the development. 2017: Undertake development of studies needed to assess the potential, constraints, and feasibility of the plan. 107

103 County/City Predevelopment Timeline 2017: Develop and issue an RFQ that outlines the nature of the proposed development. 2017: Begin streamlining the approval process for development on the arena site. Proceed with the DRI process if required. 2018: Select a short list of master developers from RFQs for RFP submittals. 2018: Negotiate final agreement with one of these entities. 108

104 Phase 1 Development Timeline 2018: Master developer begins development planning, including hiring brokers to seek out appropriate restaurant and hotel options for the initial phase. 2018: Begin planning road and pedestrian improvements along Panther Parkway and at the highway interchange, and other infrastructure improvements. 2018: Developer and county/city work to attract a family entertainment hotel and casino resort for the eastern district. 2019: Begin construction of core mixed-use district, including restaurants, main street entertainment plaza, boutique hotel, rental apartments, park/civic area, and parking. 2021: Phase 1 core district is completed and opened. Leadership Council works with developer and community to program events and activities in the plaza. 2021: Property begins generating property tax revenues. 109

105 Phase 2 Development Timeline 2021: Begin construction of family entertainment hotel, perhaps with waterpark, if/when feasible. 2022: Begin construction of a casino resort, or other major commercial facility, if/when feasible. 2024: Begin construction of additional multifamily rental properties as demand allows, together with soccer field retention/detention facility. 2024: Completion of family entertainment hotel and soccer fields facility. 2025: Completion of casino resort project and multifamily rental properties. 2024: Hockey team affirms, extends, or terminates lease. 2028: Original lease expires if not extended. 110

106 Phase 3 Development Timeline and Completion 2028: Determine future of arena if lease expires. 2028: Solidify plans for additional office and apartment development based on outcome of the arena lease. 2030: Begin construction of phase 3 rental apartment development. 2033: Begin construction of phase 3 office development. 2040: Project is fully built out, probably sooner if hockey team and arena remain on site. 111

107 Implementation- Don t Wait! Keep the momentum Start today by scheduling staff to staff meetings for Monday City and County schedule joint workshop meetings for purpose of discussing the Panel findings and beginning to engage the public AS SOON AS POSSIBLE If necessary, engage a Certified Professional Facilitator, with experience in complex land use issues to help guide effective communication processes. 112

108 June 5-10, 2016 Summary 113

109 Site Concept: Future..to 2040 Arena in place Entertainment Core Family Entertainment Hotel Executive Hotel Casino Resort Office Tech Campus Residential Parking 114

110 June 5-10, 2016 Site Programming Scenarios Flexible scenarios allow for optionality of major land uses. Development pads are phased over time to meet market absorption potential. Initial Land Uses Introduction Programming Scenarios (Range) Rental Apartments ,000-1,400 Units Entertainment Core , ,000 Sq Ft. Hotel - Boutique Keys Hotel - Executive Keys Family Resort Keys Office (Mid and High) ,120,000-1,620,000 Sq Ft. Casino Resort Keys 115

111 June 5-10, 2016 Economic Results to 2040 Scenarios and Key Variations A: Arena and Casino Resort B: Arena, with Office Technology Campus in place of Casino C: Arena redeveloped, Office Campus and Casino A B C Capitalized Valuation Tax (1.38%) $ 67,359,000 $ 64,852,000 $ 72,861,000 Retail Sales Tax (6%) 38,539,000 39,094,000 38,539,000 Tourist Development Tax (5%) 149,916, ,882, ,916,000 Subtotal 255,814, ,828, ,316,000 NOI Participation (2%) 6,535,000 7,471,000 7,415,000 Totals $ 262,349,000 $ 217,299,000 $ 268,731,000 DRAFT CALCULATIONS * Revenues are not allocated amongst public agencies ** Scenarios exclude tax on arena activities and prospective gaming revenues *** Discounted Revenues at 6%/year from 2040 to

112 June 5-10, Big Moves Strategy 1.0 Recognize the District Beyond the Site Planning to encompass broad area Identity for Downtown West Broward 2.0 Plan for long term flexibility across the entire site (2040+) Future-proof for Resilience Arena optionality post-2028 Gaming is imminent Office and Tech employment center needed 3.0 Capture immediate opportunities ( ) Entertainment Mixed-Use (including Boutique Hotel and Housing) Plaza for Civic benefit Limit cross-competition in the market 4.0 Utilize all available tools to kick-start community and economic benefits Implications Land value deferred in Public/Private Partnership Long term cash flow stream from tax base and participating ground lease (NOI share) 5.0 Champion the site Downtown West Broward Leadership Council Private Sector and Public Official Co-Chairs Manage the process Advocate for the District overall Focus on the site development 117

113 June 5-10, 2016 Thank You! The residents of Broward County, all the people engaged in its development, and the participating interviewees. Thanks in particular to Broward County Mayor Marty Kiar, and all County Commissioners; the City of Sunrise Mayor Michael J. Ryan, and the City Commission; Miami Dade Planning Division Chief Mark Woerner; The Mills, and Simon Property Group; Metropica and The Trillist Companies; Peter Luukko, Executive Chairman Florida Panthers, and the BB&T Center staff. Special recognition to Rob Hernandez Deputy County Administrator Broward County; the Broward County staff; Lou Sandora, Economic Development Director for the City of Sunrise and City Staff for their coordination and support through the entire process. 118

114 June 5-10, 2016 Questions? 119

115 June 5-10,