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R7E MBConnectIntroduction Jackie Soffer Co-Manager, Miami Beach Connect David Martin Co-Manager, Miami Beach Connect Re-imagined Miami Beach Convention Center to be completed in the fall Surrounded by incredible public assets: New World Symphony, Soundscape Park, the Fillmore, Lincoln Road, City Hall, Botanical Garden, Convention Center Park, and the Holocaust Memorial Our vision is to connect, unlock the full potential of this district, and maximize the return on investment Want to be a good neighbor and collaborate with residents and the business community Proud to have assembled best in class experts to realize our vision Miami Beach Connect Team Miami Beach Connect Team Arquitectonica Design Architect Arquitectonica GEO Landscape Architect Local Office Landscape Architecture Resiliency Consultant Spinnaker LEED Consultant Rockwell Group Interior Designer: Common Areas Meyer Davis Interior Designer: Restaurants Stonehill Taylor Interior Designer: Rooms Dacra Urban Design and Planning Thornton Tomasetti Structural Engineer Jacobs MEP Engineer Kimley-Horn Civil/Traffic Engineer Coastal/Tishman General Contractor Greenberg Traurig Legal and Contract Negotiation Bercow Radell Fernandez & Larkin Zoning/Land Use Akerman, LLP Legal Counsel PFM Financial Advisors Financial Advisor Miami Economic Associates Economist Team Qualifications Team Qualifications JW Marriott Nashville Date of Completion: Opening July 10, 2018 Project Development Costs: $260 million Fontainebleau, Miami Beach Date of Completion: 2008 Project Development Costs: $1 billion Team Qualifications Hilton Americas Houston Convention Center Hotel Date of Completion: 2003 Project Development Costs: $285 million Team Qualifications Team Qualifications Sheraton Phoenix Downtown Convention Hotel Date of Completion: 2008 Project Development Costs: $350 million Team Qualifications Grand Hyatt San Antonio Convention Center Hotel Date of Completion: 2008 Project Development Costs: $215 million Team Qualifications The Cosmopolitan Convention Hotel, Las Vegas Date of Completion: 2010 Project Development Costs: $1.8 billion Team Qualifications City of Dreams Resort and Convention Hotel, Macau* Date of Completion: 2009 Project Development Costs: $2.8 billion * Operated by Grand Hyatt Design Bernardo Fort-Brescia Arquitectonica Urban Planning Connect the District Sensitivity to Context Respond to Blue Ribbon Recommendations Concept Design Development Connectivity to Convention Center Relation of Volumes and Massing Architectural Compatibility Connectivity to Convention Center Streamline Design 17th Street Pedestrian Relatability Convention Center Drive Pedestrian Relatability Create Exciting New Vistas Hotel Program Ground Floor Miami Beach Welcome Center 2,500 SF Level 02—Parking Level 03—Ballroom Level 04—Meetings Level 06—Spa & Fitness Level 07—16 Roof Section 1-1 Resiliency & Innovation Walter Meyer Local Office Landscape Architecture Site Topography Hydrologic Forces Hydrology Water District Site Context and Access Neighborhood Resiliency Resilient Systems Sustainability LEED Gold (+) Certification Checklist Mobility John McWilliams Kimley-Horn Modal Connectivity Pedestrian/Bicycle Routes Transit Routes/Stops Vehicular Routes Alternative Modes Walking Bikeshare Stations City Trolley Service Miami-Dade Transit Service Hotel Shuttle Service Future Autonomous Transit Site Ingress Routes & Internal Queuing Site Egress Routes Service/Loading Routes Financials Aly-khan Merali Turnberry Development Financing 348~362 Million Approximately 126 million 35% Equity: Approximately 236 million: Construction Financing 65% Financing: Ground Lease 2.50% of Gross Operating Revenues Annual Lease Payment: 99 Years Term: Minimum Fixed Rent: $2 Million in Year 5 Approximately 60% of Projected % Rent Fiscal Benefits Projected Annual Fiscal Benefits by Year 5: ≈ $4.11 Million Permit Fees: $0.8 Million $3.0 Million Real Estate Taxes (5th highest paying property in Miami Beach) Food & Beverage Taxes $3.3 Million Ground Lease Payment $3.1 Million Resort Taxes $10.2 Million Job Creation 3,614 Total Jobs During Development: 1,909 Direct Construction Jobs: Projected Full-Time Workers: 724 Hospitality Partners Partner with City and Community Maximize Return on Public Investment Economic Benefits for the City Innovate Engage the Community Deliver a Quality Project Looking to the Future: Together, We Can Secure Miami Beach’s Future Thank you! Thank you!