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Home My WebLink AboutCRA-R-14-0031 Backup- - - ,:''r`il°'= <_rrF�� ;,n�C z.r-_.a-£ - - "'2.='x,.-._ - `_-^r-.:rraa a:-{;;•�.�a.,. ,uz,_-.,c-:, ,yam.-��.,i:a- :a' -�•-'.^:'?.=t,.�w�,� rir a • Cart 71 wirw it • e 4114 ..._.�_.,!it-. o�i�kt:tit',K'7Y:.�c`a��R'��2>�'�?��f�. ...f _r`ir�at sa• i� �`i 4�iiirs' s� %i :�z. ir, �es;'i 'tri: eii r.s.� � y.�.. 41 E z .4. ?-.'!'`t�;trbi?3F^^i>i • �..iFi'•"�;.', ',+;'c?. ..N.:i- h';.;..:: _ .,r ,,.:.,v.:. �.�...._. 3_v:;41: .' :#� s .'� ° `•-,, d3 i535 �: s �zq i ?';�i."i," EXECUTIVE SUMMARY For its entire history, Historic Overtown has been an iconic neighborhood influenced by Black culture that is celebrated by residents and visitor alike, At the height of Overtown's "Little Broadway" era, Avenue G (now known as "Second Avenue") was the nerve center. Block 55 housed some of the most significant sites including the Sir John Hotel and Mary Elizabeth Hotel. Today, the site offers a spectacular opportunity to establish a gateway that frames the physical entrance to Historic Overtown and the perceptual progress towards its future. We propose the "Overtown Gateway" project for Block 55 as a bold and thoughtful development designed to transform the neighborhood's entrance into a vibrant district offering a wide range of options to live, work and play. Our proposal is influenced by deep consideration of the various plans and studies that have been developed for the neighborhood over the last twenty years. The Redevelopment Plan and HOFDIA standards were central to our consideration and can be seen in the design. The Project concept is further discussed in Tab 3. Design images are provided in Appendix A and B. The Project team is comprised of highly accomplished firms with significant experience in the development and management of large-scale and complex projects. Detailed information about each individual team member is located in Appendix C. Our Development Partners, The Peebles Corporation ("Peebles") and BACH Real Estate ('BACH"), have direct experience with all the components of the Project. Over the last decade, Peebles has developed projects totaling approximately $300 million in South Florida alone. Recently, Forbes Magazine named Donahue Peebles, the company's founder, as one of the "ten wealthiest Black Americans". BACH.is a Miami - based, African -American owned firm led by Barron Channer. He is an. emerging developer with over ten years of real estate development and acquisitions experience. A 30-year native of Miami -Dade, Mr. Channer obtained an MBA from The Wharton School. The Development Partners have established a joint -venture to undertake the development of Block 55. Mr. Peebles and Mr. Channer have worked together for a decade. The Project team further includes MCM, D. Stephenson Construction ("Stephenson"), Revuelta Architecture ("Revuelta"), Miami Parking Authority ("MPA") and Bercow Radell and Fernandez ("BRF'`). • MCM is a Miami -based construction management firm and one of the largest Hispanic -owned construction firms in the US. The firm has the bonding capacity to undertake collective projects totaling $1 billion in construction costs or up to $250 million single project. • Stephenson is the largest African -American owned, construction management firm in South Florida, They have current experience working in Overtown as manager of the Carver Apartments and Shoppes project (Eight Street, NW Third Avenue). • Revuelta is one of the most prolific architects in Miami. The firm's designsfeature nearly ten buildings in Greater Downtown Miami. • MPA is the single largest manager of parking in Miami. They currently manage several lots within Overtown. Their parking portfolio includes 14 garages and nearly 90 surface lots along with over 11,000 on -street spaces. . • BRF is the premier law firm specializing in land use matters throughout Miami. They have significant experience with current land use issues in Overtown. BRF and the Development Partners have worked together for over ten years. .ti rs.# �o .'�u� 1��+.'2irs� �v_ �Js .Yank � ?F,! '•;y t:iT`ifis�►A � i�ii i` E Y"asu �� s :,. I (OWN iSAIIIEWAY �'.�-'Yy.�`��ti. vN '"Sr�:.3';R'r? ;�f".•7, -, _�.-�,,.->=�si3c.%R-.�-:,' � �s:�.---->A�`: u'r _« 8s,'--'--u;-.,•: .� '�. ., u." 3Ex, e.•�:-. a_. na�.s ,..„h.c,.-�. r:`.:r r}rY` -��.. -.S'4: - f.tf�---':'"-tiw.:.-3, �S. x.�.. �.v-�: We have deliberately sought to address the key objectives of this solicitation with a Project that includes several facets. Discussions of the Project's key elements and benefits are presented in tabs 3 and 5 respectively. • Overtown Gateway would generate roughly 500 jobs with the development of Block 55. Our team has direct experience, deliberate intent and commitment from the top down to exceed the targeted levels of jobs for local residents and contract opportunities for local companies. • Numerous post -construction jobs will be generated. To ensure that local residents and companies can access these opportunities, we plan to designate aJobs and Contracts Coordinator who would remain active throughout and after construction. • Respect for the cultural heritage of Historic Overtown is embedded within our design. Elements of HOFDIA design standards and the Redevelopment Plan are incorporated. • The Project is poised to generate significant economic returns for SEOPW CRA. This would amount to millions each year. A summary highlighting the returns is included in Tab 5. • Beyond creating jabs, we plan to engage Overtown youth by providing educational experiences introducing them to the real estate industry and entrepreneurship. In doing so, we are deliberately seeking to sow the seeds for growing the investors of the future whom will build-up Overtown with compassion and commitment to its cultural heritage. The "0vertown Scholars" program is briefly discussed in Tab 5, Project Benefits — item (e). We are confident about the financial viability of the Project. Peebles and BACH both have significant experience with the South Florida markets and with the proposed Project components. Collectively, we have significant financial resources and access to much more. Letters evidencing interest from a small sample of potential capital partners are provided in Appendix D. • The demand for residential in Miami is significant and growing. We will cater to the wide cross section of people seeking workforce housing, desirous of downtown living and attracted by Overtown's character. The workforce sector has been generally overlooked despite accounting for a Iarge-percentage of those who work in Downtown currently and care to live there in the future. • The retail is positioned to tap into the entertainment district being fostered in 0vertown. Downtown's retail activity is booming per numerous studies by the Downtown Development Authority We plan to compete for this business while also benefitting from thosewhowill live, work and play at Overtown Gateway. We appreciate the opportunity to be considered for such a special site. Hopefully, you find out concept to be compelling. Mr. Peebles and Mr. Charmer are drawn to the compelling story behind the site and neighborhood. We are prepared for the challenge and offer Overtown Gateway for your consideration.