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Home My WebLink AboutPowerPoint Presentation-Sky Rise MiamiCity of Miami Presentation June 12, 2014 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. Location Googie earth Dnagerf Date! 3126./2011 25°46'39.76" N 50`1100.9' Velew ft eye aft 713 ft 0 A BUILDING LIKE NO OTHER Wind base shear = 23 million pounds(1,500+ elephants) 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) Driving 130 piles 150 ft. deep to support the tower • FAIN A•.' I I' i I 0) 0 0 0 Designed to withstand wind speeds of 186 mph (1,700 year 3-second gust) 100,000 cubic yards of concrete (a 4 ft. wide sidewalk from Miami to Tallahassee) • SKYRISE MIAMI AT THE EPICENTER OF THE NEW MIAMI BAYSIDE MARKETPLACE PORTM IAM I CRUISE CAPITAL OF THE WORLD AMERICAN AIRLINES ARENA HOME OF THE MIAMI HEAT ADRIENNE ARSHT CENTER FOR THE PERFORMING ARTS PEREZ 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 FiUTIJRE LOCATIO x'.:;.;. OF ALL ABOARD F LORIGA y, ORLANDO-TO-MIAMI TRAIN STATION BAYSIDE MARKETPLACE SKYRISE aa 2 MILLION ILLIONPROJECTED MIAMI s ANNUAL VISITORS A DR EN N E ARSHT CENTER UTURE LOCATION OF _MIAMI SCIENCE MUSEUM PERIM ART MUSEUM MIAMI Pier Park Pier Park SkyRise Miami The View The View 40 Mile View VIEW FROM SKYRISE MIAMI WEST PALM BEACH • BCYTOt f' rH 41) BOA RATON ERDAL£ • 40-MILE VIEW 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. SKYRISF ORSFR\/ATI()N IlFCKS 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 RESTAUR 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. SKYRISE MIAMI MEMBER'S CLUB AND OBSERVATION DECK O i.Irrito._rs Ctu b O `graces O Ear O Pablrc pods • Private pads • E4enfs space • RrifieXtiV3 [Ipgt SKYRISE MIAMI MEMBER'S CLUB AND OBSERVATION DECK SKYRISE MIAMI MEMBER'S CLUB AND OBSERVATION DECK SKYRISE MIAMI MEMBER'S CLUB AND OBSERVATION DECK SKYRISE MIAMI CONCEPTUAL RENDERING MAIN INDOOR AND OUTDOOR OBSERVATION DECKS SKYRISE MIAMI ATTRACTIONS 7 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 wire. Or it can be described as, "WhooH000000" SKvR'$F nROP 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 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. SKY PLUNGE • 570Ft. Thrill Ride • Only Plunge in the World Inside a Building • Reaching Speeds of 55 MPH SKY PLUNGE 570Ft Height Inside the Tower SKYRISE DROP 650 Ft. Drop Tallest/Longest Drop in the World • 12 Passengers • 100 MPH Speed SKYRISE DROP 650 Ft. Drop Tallest/Longest Drop in the World • 12 Passengers • 100 MPH Speed d ES4 V1 0.m 5rw! eY SKYRISE DROP SKYRISE THEATRE • Capacity 72 Riders • 6 Minutes Duration • Movie will Feature the Best Views of South Florida and Miami SKYRISE THEATRE SKYRISE THEATRE SKYRISE THEATRE 907 Acres TOP FIVE AMUSEMENT/THEME ATTRACTIONS IN FLORIDA 235 Acres 200 Acres 335 Acres 1.85 Acres 1 WALT DISNEY WORLD ORLANDO UNIVERSAL ORLANDO SEAWORLD ORLANDO BUSCH GARDENS TAM PA SKYRISE MIAMI MILLIONS OF VISITOR PER YEAR frit: ESTIMATED 3.2 MM VISITORS PER YEAR 3,000,000 2,000,000 1 000,00a 500;000 250:000 100,000 Largest Attraction in South Florida 3.200.000 SkyHlse Ihigml Metro Zoo Miami S a ,alum Jungle lfland . v ANTI Miami Miami Fvirchild Center Chia ewa's Science tropical i Museum Museum Gardens VIzcaya Miami Ari Museum Largest Attraction in South Florida VISITORS 3, 000,000 2.000.000 1,000,000 100,000 3.2 Million SkyRise Miami 2,84 Milian cK« A14NI.1AL Y:5110113 Miami Aft Museltm Vizcaya Fairchild Tropical Gardens Miami Science Museum Miami Children°s Museum Arshl Center Jungle Island: Miami Seraquarlurn Metro Zoo SkyRise Miami: Miami's Eiffel Tower FAMOUS OBSERVATION TOWERS OF THE WORLD SPACE NEEDLE SO4 ft, SeaLLIs, P55 i STRATOSPHERE TOWER 1,149 ft. Las Vegas, L SA SKYRISE MIAMI 1,000 ft. Miami, Flooda ALL MAJOR OBSERVATION TOWERS OF THE WORLD 41 TOWERS 21 COUNTRIES 5 CONTINENTS MILLION ANNUAL VISITORS .ERLINER FERNSEHTURN TOWER 1,207ft. Boren, Germany CN TOWER 1,814 ft. Toronto, Canada EIFFEL TOWER 1,063 ft. Pans. Frar_e 7M ANNUAL VISI I UPS / r� / OSTANKIHO'. / CAIRO TOWER 614ft. Cairo, [gyp= MENARA TOWER 1,381 ft. Kuala L_mpu-, Malaysia CANTON TOWER 1,668 ft, Guangzhou Ghana N SEOUL TOWER 781ft. SouLl- Koreo 9 9 SVDNEY TOWER 1,000 ft, Sydrey. Australia 2..d o<yo apan ILLION JVL AL VISITORS ORIENTAL PEARL TOWER 1.535 ft. Shangrai. Llano 4 MILLION ANNLALVIS[FRS SKY TOWER 1.076 ft. Auckland Les Zealand FAMOUS OBSERVATION TOWERS OF THE WORLD EIFFEL TOWER 250 MILLION+ Visitors Since 1889 Currently Averaging 7.0 Million Annual Visitors SKYRISE MIAMI Projected 3.2 Million Annual Visitors f TOKYO SKYTREE ORIENTAL TOWER PEARL TOWER Currently Currently Averaging Averaging 6.4 Million 4.0 Million Annual Visitors Annual Visitors FAMOUS OBSERVATION TOWERS OF THE WORLD A Beacon of the 21 St Century Global Cities (.UANGZHOU, CHINA Canton Tower TOKYO, JAPAN Tokyo Skytree SHANGHAI, CHINA Oriental Pearl Tower KUALA LUMPUR, MALAYSIA Menara Tower MACAU, CHINA Macau Tower =A An! lq 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 SKYTREE TOWER Currently Averaging 6.4 MM Annual Visitors Projected 3.8 MM Annual Visitors Currently Averaging 4MM Annual Visitors Envisioned by DDA 2.3 Create an Iconic Waterfront Element at Flagler Street & Biscayne Bay Anglins Pier wwwflickr.com Proposed Iconic Landmark: "Eternal Dance" Julian Romero, Student, SCAD Eiffel Tower, Paris • Create an iconic element at Bayfront Park to draw • Iconic elements can vary from a historic pier to a attention to Downtown Miami's waterfront and create monumental structure. Similar landmarks throughout a vivid association between the landmark and the the world inspired the idea for an iconic element City of Miami. for Miami. These world famous sites serve to unite www. flicks com • Hold an open, international competition to select the proposed iconic landmark. The Power of an Image The image alone creates recognition A place brand creates a narrative about a locality in order to make it recognizable to outsiders Concept is utilized by Major US Cities to create recognition Globalization (competition for global recognition has intensified) What's the Eiffel Tower worth to Paris? 1. Eiffel Tower, Paris 2. The Coliseum, Rome 3. The Sagrade Familia Cathedral, Barcelona 4. The Duomo Cathedral, Milan 5. The Tower of London 6. The Prado Museum, Madrid 576.24 Billion 120.96 Billion 119.28 Billion 109.2 Billion 94.08 Billion 77.28 Billion Study by Italy's Monza and Brianza Chamber of Commerce Economic Impact weg The Washington Economics Group. Inc. • SkyRise Miami will be a game -changing asset of the Entertainment and Visitor Industry in Miami -Dade Country. • SkyRise Miami presence will enhance the State and Miami -Dade 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. Summary of the Economic Impacts of SkyRise Miami During the Construction Phase to the City of Miami Impact on: Employment (Jobs) Labor Income ($ Million) Gross Domestic Product (Value Added $ Million) Federal, State & Local Tax Revenues ($ Mill.) Total Economic Impact ($ Mill.) Direct 3,218 $171 $202 $418 Source: The Washington Economics Group, Inc. August 2013 (WEG). Indirect & Induced 2,117 $97 $148 $237 Total Im acts 5,335 $268 $350 $ 60 $655 Summary of the Recurring Economic Impacts of SkyRise Miami During Operations on the City of Miami Impact on: Direct Indirect & Induced Total Im acts Employment (Jobs) Labor Income ($ Million) Gross Domestic Product (Value Added $ Million) Federal, State & Local Tax Revenues ($ Million) Total Economic Impact ($ Million) 10,222 $296 $430 $681 3,110 $137 $226 13,332 $433 $656 $144 $358 $1,039 Source: The Washington Economics Group, Inc. August 2013 (WEG). 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 at $337,500 in first year of operations. 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 Million $ 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 ,000,0, )0 Year 1 Year 10 City of Miami SkyRise Miami Revenues During Operations Year 20 Year 30 Year 40 Year 50 • Property Taxes Percentage Rent Tower Parking Surcharge Tower Total 96 Years - $781.54MM Year 60 Year 70 Year 80 Base Rent Tower Parking Rent Tower Year 90 Year 96 Million $ $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000 )00 $- City of Miami Bayside and SkyRise Miami Revenues During 99 Year Term Year 1 Year 10 Year 20 Year 30 Year 40 Year 50 Total 99 Years - $1.78 Billion Year 60 Year 70 Bayside • SkyRise Miami Year 80 Year 90 Surface Parking 1 Year 99 Millions 800 MM 400 MM 65 MM City of Miami Revenue Comparison During Operation Pier Surface Parking vs. SkyRise Miami 96 Year Lease 96 year lease difference in revenues totals $717,242,334 $64,302,022 Pier Surface Parking SkyRise Miami Yearly Average 96 Year Lease $8,141,087 Difference in average revenues of $7,471,274 per year $669,813 Pier Surface Parking SkyRise Miami Millions 8 MM 4MM 670K JOB CREATION/ECONOMIC IMPACT - IMMEDIATE TIMELINE JUNE 2014 OCT 2014 OCT 2015 DEC 2017 Commence Commence Com ence Pilling Work Foundation V cal Construction Construction OPENING The TEAM Has built almost One Half a Billion sq. ft. of commercial and residential buildings. BERKOWITZ E E L P E T GROUP AROUITECTONICA gsmprjct° Coastal TISHMAN A TETRA TECH COMPANY MAGNUSSON KLEMENCIC ASSOCIATES Shanghai Tower — 632 m Shanghai, China IIr I -- Doha :ConventionDohaCenter,Qatar Tower — 426 m World Finance Tower — 212 m Shanghai, China One World Trade Center — 541 m New York City, USA Highcliff Tower — 252 m Dunedin, New Zealand Bur} Khalifa - 828 m Dubai, United Arab Emil COMMUNITY SUPPORT 0.0 lhela m 4ra.vJ •grrlvr i rea t chamber q1 Gortmmcar "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 "SkyRise Miami has the potential to enhance Miami -Dade County's profile as a top destination for entertainment and leisure for both domestic and international visitors." DEBBIE WASSERMAN SCHULTZ MEMBER OF CONGRESS 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." 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." A M!.''S NI D CAA "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 "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 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 21 st-century global city for business and leisure." CARLOS GIMENEZ MAYOR MIAMI-DADE COUNTY 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!" 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" Make SkyRise Miami Part of Your Legacy... ELEVATING MIAMI TO NEW HEIGHTS