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Home My WebLink AboutCRA-R-17-0021 Excerpts from Omni Redevelopment Plan2.4 EXISTING LAND OWNERSHIP Major Stakeholders rTi City of Miami School Board PAC Miami Herald Omni Mall Omni CRA Redevelopment Plan FINAL DRAFT EXISTING CONDITIONS Although there are numerous property owners in the Omni area, there are several major stakeholders who will undoubtedly play a large role in the redevelopment effort, due to the fact that they have a concentration of land holdings or control very large parcels. These stakeholders include the City of Miami, the Miami -Dade County School Board, the Miami Herald, the Performing Arts Center Trust and the owners of the Omni Mall. A number of the redevelopment strategies within the Plan Update are based on the public/private redevelopment of these holdings. 13 Omni CRA Redevelopment Plan FINAL DRAFT REDEVELOPMENT PLAN OVERVIEW 4 4.4.5 , Promote Public/Private Development SUPPORTING PROJECTS Public/Private Strategies Miami Herald City of Miami Properties School Board Properties PAC Parking Convention Facilities Regulatory Strategies Entertainment District Expansion Zoning Strategies Design Guidelines Improving the Public Realm Baywalk Streetscapes Historic Preservation Neighborhood Greenspace Transportation/Infrastructure Miami Streetcar 17th Street/FEC Crossing Street Reconstruction 2-way Streets Water and Sewer Upgrades Infrastructure 5- =I" .., - ij \A :4.: '4. li, :: 4 - P - '-'11-1:.:;.i.;.• L Perhaps the most important strategy in the redevelopment of the Omni area is the pursuit of public/ private partnerships to promote new development, new infrastructure, and to resolve existing deficiencies. Numerous projects are candidates for this type of development, including transportation and parking facilities, the redevelopment of the Omni Mall , Miami Herald properties, the Wynwood Free Trade Zone and Industrial use land west of the FEC, and improvements to the public realm. Additional opportunities for public/private and public/public partnerships exist given the land holdings of the Miami -Dade School Board and the City of Miami. The School Board owns many vacant or unimproved properties within the Omni west area. These properties are ideal candidates for new affordable and workforce housing and for parking facilities which would serve the Media/Entertainment District and the PAC. Additionally, several of these properties exist in areas that have tremendous development potential which may be leveraged in public/private partnerships to provide educational and other public facilities. , T 01 .W 1.. - LI: I = , , • 1-1_ \ , ._ :fp •:-.,%, F. -,-- ..—.., i:r: -; ..._i 1:- ow ,),1" .1,1 .1 0 ai.I:f._. a,..,,. _ „Al. •••••• .0 .. f"" ,•"•'. P-....... OW6 Mr ' - ' *PM i 111- _ ridll ;- -1. 11-1-3 te t LIT-1 L-1: _ ,.'nf :..! . ' —? ... se - 41F r- t .111 it 1./aw It 11 "4,441.,114 r • 1,1 4 _4 .441 1101643 1 Targeted Public/Private Development Opportunities 52 Omni CRA Redevelopment Plan FINAL DRAFT PROJECTS AND STRATEGIES � � City of Miami & School Board Properties . PAC Parking V renomnng Art' Cro*r 2)pubxclPv*amDevelopment including PAC parking POTENTIAL DEVELOPMENT 100,000~sp | rs/mp+ SF Office uuo mesmwmm| Units PAC pu,ki"Q One potential project is the development of a mixed -use parking structure westof the PAC. Such a development would require a partnership of the Miami -Dade School Board, the Performing Arts Center Trust and private property owners and developers. Numerous alternatives have been studied for this project by the Urban Land Institute Technical Assistance PnnQoann (Moy2OO4) and the Downtown Development Authority (ODA).Based oncooperation ofadjacent privateproperty owners and zoning changes, this project could provide almost 1,500 parking spaces which could be shared among the PAC, Miami -Dade School Board and other venues within the Media/Entertainment district. Coupled with the development nfparking on the Miami -Herald pnoperties, this project could satisfy the parking needs ofall parties involved. L4 ;I :Wxp"9:ww.'nm�rm� 59 Omni CRA Redevelopment Plan FINAL DRAFT CAPITAL IMPROVEMENT COSTS & PRIORITIES 6 6.2 CITY OF MIAMI & SCHOOL BOARD PROPERTIES Overall Priority: High • (See Section 5.6) CRA funding and support for the redevelopment of the City of Miami and School Board Properties could augment the efforts of the private developer, the City of Miami and the Miami -Dade School Board. Such support should be applied, in whole or in part, to public components of the project provided that redevelopment efforts support the objectives of the Plan Update. Project Category # Project Sub 1 . Linear Ft (LF) Unit Cost (LF) Area . Unk Cost (SF) _ Es,it.d Cost Public/Private Development 3 & 4 City of Miami/Miani-Dade School Board Properties Potential Public Components Description: Includes Skills Center Red ev Capture perking for Entertainment 2 Affordable/Workforce Housing Potential New School Facilities eloprnent 3A New Streets 370 $2,000 $740,000 3B Streetscapes 370 $750 $277,500 3C Housing Parking: 60 spaces 21.000 640 $840,000 District Projects 3D Skills Center Parking: 60 spaces 21,000 640 $840.000 3E New School Facilities 70,000 $190 $13,300,000 3F Infrastructure 370 $450 $166,500 Reintroduce Street through School Board Property A5sur�s 10% of parIcrig total Parking must be avaiable 1e the general pubic Mile Slob -Wet $16,164,000 20% ConlIngency $3,232,800 Public Total $19.300.1100 Private Components 3G Retail (Skils Center Only) 32,800 $75 $2,460,000 3H Residential: 528 units 633,600 5140 388,704,000 31 Office (Skills Center Only) 140,000 $80 511,200,000 3J Parking: 1060 Spaces 371,000 340 514,840,000 Private Svit-rolal $117,204,000 20% ConlInipency 523,440,600 !Wok Ted Si41,44000 Project Tat $100,041,600 Related Public Projects Descripffon Start Date Agency 105 Omni CRA Redevelopment Plan FINAL DRAFT CAPITAL IMPROVEMENT COSTS & PRIORITIES 6.15 CIP COST SUMMARY As discussed in the following Financing Plan, current cost estimates indicate that approximately $213 million in public funds would have to be raised to support the projects for which cost estimates are available . Of this amount approximately $31.5 million would be needed to fund joint public -private initiatives. Another $49.54 million would be needed to support the implementation of public realm project initiatives and approximately $50.87 million would be needed in public funds for transportation and infrastructure projects. Project Category - — Project MarnHeraId Properties Public $12,822.000 Atrate $920.640,000 Project . $933,462,000 Public/Private Development1 2 3 4 City of NI iami/Miami-Dade School Board Properties $19,396,800 5140,644,800 $160,041,600 5 P owning Arts Center Parking $9,600,000 $222,840,000 $232,440,000 6 . Convention Facilities . SO $0 $0 565bI Regulatory Strategies Entertainment District Expansion No Capital Cost Capital Cost Na Capital Cost 8Zoning Stra ' :Amendments 9 Zoning Strategies: Affordable and W ce Housing ncentiv 0 Z ' g Stra e : Pa 'ng R uctions 11 Design Guidelin : ia/Entertainment DtrIct 2Deogn Guidelines: PAC Area Guidelines 13 'Design Gu' ' : 8scayne Boulevord Desgn Gu' 14 Des' Guidelines: NE 2nd Avenue Desgn Gu' PublicPubhcRealm 15 Baywa8$21,280,2000 $0 $211, 200 16 Streetscapes $26,958,000 _ ...., 3,41,646,000 568,6044410 17 Histodc Preservatior1 $4,800,000 $0 $4,800000 15 Nekfllborhood Green ace $2,508.000 $0 $2,508,000 Sub_To66lj 155,546,200141,646,000 597,192,2, Transportation & Infrastructure 19 Miami Streetcar 20,400,000 $0 S20,400,003 20 7th Street/FEC Crossing $396.000 $0 $396,000 21 2nd Avenue Reconstruction $19,248,000 $0 819,248,091 22 -way Conversions 17,743,600f— $0 $7,743,600 2 Water and Sewer Upgrades 3,3,082,840 $0 $3,082,8:40 24 Infrastructure TBDI SO TBD Sub -Total 850,870,440 SO $50,870,440 Pubic 1--—P7ri, vat* Total Total Cost $271,760,440 $4,427.326.6901 $4.14111,086,040 118