Major development projects that will impact the hotel industry in miami and miami south beach

Major development projects that will impact the Hotel industry in Miami and Miami South BeachBy Libardo Lambrano | eCommerce Manager Hilton Worldwide

September 2014

© 2014 Hilton Worldwide Confidential and Proprietary

Relevant Development Projects In Miami

Main Projects

1. Miami Worldcenter2. Brickell City Centre3. Port if Miami Tunnel4. All Aboard Florida Railroad5. Airport City 6. Downtown Miami's Museum Park 7. Skyrise Observation Tower8. Island Gardens


Main Development Projects In Miami

Miami Worldcenter

Project Summary Miami Worldcenter is one of the largest private master-planned projects in the United States, featuring a diversity of urban land use, including retail, hospitality (2,000 room Marriott), and residential space.

Located in the core of downtown Miami, the ten-block, mixed-use development is situated immediately north of the Central Business District and is surrounded by world-class amenities and boasts convenient access to transportation.

Location: 700 N Miami Ave Miami, FL 33136Total Investment: $5 BillionCompletion date: Phase I Late 2016Current Status: 06/2014 Opponents are suing the developer and the City of Miami in attempt to delay the closure of several streets for the massive downtown development. Under city approval after 8 years of planning and delays. Final Plan submitted for approval.



Miami Worldcenter

• 25-acre project would generate some 33,500 jobs• 14,000 permanent jobs will be created by the project, including

8,000 full-time positions at the center, in addition to 6,000 indirect jobs created by other businesses

• 600,000 square-foot Convention space• 2,000-room hotel (Marriott Flag)• 1,000-unit residential space • 765,000-square-foot luxury shopping center. (Macys and

Bloomingdales)

Miami Worldcenter main highlights/features/benefits

Source: http://www.miamiherald.com/2014/06/12/4174706/downtown-miamis-museum-park-to.html

http://www.miamiherald.com/2014/06/12/4174706/downtown-miamis-museum-park-to.html


Miami Video



Brickell City Centre

Project Summary Brickell City Centre is a $1.05 billion shopping and mixed-use project that will, when finished, span four blocks to the west of Brickell Avenue and to the south of the Miami River, in downtown Miami, Florida. The project is being developed by Swire Properties Inc, and will span 9 acres and include a department store, luxury shops, restaurants, hotel, office towers and condominiums. The hotel flag was awarded to EAST, a Swire Hotels brand, which will be their first venture in North America.

Location: 200 NW 1st Avenue, Miami FL 33128Total Investment: $1.05 BillionCompletion date: End of 2015Current Status: Under construction



Brickell City Centre

• $1.05 billion mixed-use development in the heart of Miami’s financial district.

• 625,000 square-foot shopping center• 128,580 square feet of Class A offices• 131,651 square-foot wellness center• 263 hotel rooms (East Miami Hotel, Swire Flag), 89 serviced

apartments• 820 condominiums in two towers• 2,600 parking spaces

• An environmentally sophisticated and innovative Climate Ribbon™ architectural feature that will provide active and positive climate control

• Approximately 3,700 direct jobs and 2,500 indirect jobs after construction completion

Brickell City Centre main highlights/features/benefits

Source: http://brickellcitycentreconnect.com

http://brickellcitycentreconnect.com/


Things to do In Miami



Port of Miami Tunnel

Project Summary Construction Started Feb 2006. This big tunnel will connect Port Miami directly with the interstate highway system, by way of going underneath Miami's "Cruise Ship Row". The Port of Miami Tunnel project is a highly complex project which is being built through a public-private partnership that includes the design, build, finance, operation and maintenance of said project.

It is a 35-year concession agreement between the Florida Department of Transportation (Owner) and MAT Concessionaire, LLC (Concessionaire), which includes 55 months for design and construction being carried out by Bouygues Civil Works Florida.

Location: Watson Island - Port of MiamiTotal Investment: $1 BillionCompletion date: 2014Current Status: Under construction, opening 08/2014



Port of Miami Tunnel

• Providing a direct connection from the Port of Miami to highways via Watson Island to I-395

• Keeping the Port of Miami, the County’s second largest economic generator, competitive

• Making downtown streets safer by reducing congestion on downtown streets

• The Port of Miami provides 176,000 jobs, $6.4 billion in wages

and $17 billion in economic output• Longest tunnel in the world

Port of Miami Tunnel main highlights/features/benefits

Source: http://www.portofmiamitunnel.com/project-overview/project-overview-1/

http://www.portofmiamitunnel.com/project-overview/project-overview-1/



Faena District

Project Summary A luxury 'megadevelopment' conceived by (and named after) real estate developer Alan Faena is being developed in Miami Beach. The project includes the redevelopment of six entire blocks, including the 1940s Saxony Hotel in South Beach.

When it opens later this year and next spring 2015, the Faena District will consist of apartments, hotels, shops, restaurants, art, opera and theatre.

Location: 3201 Collins Ave Miami Beach, FL 33140Total Investment: $1.05 BillionCompletion date: End of 2014, Beginning 2015Current Status: Under construction



Faena District

• 18-story luxury condo• 3 renovated hotels (Versailles, Saxony, Claridge).• Art Center and Artists-in-Residency• Park• Restaurants• Opera

• Theather

Faena District main highlights/features/benefits

Source: http://www.archdaily.com/462667/star-architects-and-artists-recruited-to-design-faena-district-of-miami-beach/

http://www.archdaily.com/462667/star-architects-and-artists-recruited-to-design-faena-district-of-miami-beach/

http://www.archdaily.com/462667/star-architects-and-artists-recruited-to-design-faena-district-of-miami-beach/



All Aboard Florida Railroad - Downtown Miami Station

Project Summary All Aboard Florida is a proposed higher-speed rail service which would operate along the Florida East Coast Railway. The proposed service would connect Miami with Orlando via a roughly 240-mile (390 km) route along the Atlantic coast north from Miami to Cocoa, where it would turn west towards Orlando.

Unlike all other inter-city rail (Amtrak) in the United States the new service would be privately owned and operated by Florida East Coast Railway (FEC)

Location: 200 NW 1st Avenue, MiamiTotal Investment: $6 BillionCompletion date: 2016, Phase One Orlando-Miami in 2014Current Status: Dade County approved, site work will begin in August and groundbreaking will happen in September.



All Aboard Florida Railroad - Downtown Miami Station

• Wi-Fi internet service• Sensible meals and beverage service• Flexible and activity-based reserved seating• Luggage accommodations• Online reservations• 3 Million cars off the road• Benefit 50 million passengers per year

• Will generate 6,000 construction jobs• Will connect Orlando and Miami in 3 hours

All Aboard Florida main highlights/features/benefits

Source: http://miami.curbed.com/archives/2014/06/03/all-aboard-florida-alternate-miami-station-design.php

http://miami.curbed.com/archives/2014/06/03/all-aboard-florida-alternate-miami-station-design.php



Airport City

Project Summary The expansion of the Miami International Airport (MIA) a 33-acre hospitality center, business-park and convenience center, and will be anchored by a four-star hotel linked to the terminals, as well as up to one million square feet of Class A office space, and a convenience retail plaza and known as 'Airport City of MIA'.

The proposed hotel will be linked to the North Terminal. The MIA mover is the train linking the Rental Car facility, the metro-rail and also links to the train to downtown Miami.

Location: 2100 NW 42nd Ave, Miami, FL 33126Total Investment: $512 MillionCompletion date: UnknownCurrent Status: Facing legal challenges, Odebrecht USA has construction projects in Cuba. Proposed reduction from 33 Acres to 9, to leave space for future airport expansion.



Airport City

• Hospitality Center – ±425-room, four-star hotel and conference center

• Business Park – An office space with 150- to 300-room limited-service hotel accommodations, retail and restaurant facilities, and MIA Mover station.

• Convenience Center – to include convenience retail, dry cleaner, gas station, pet hotel/spa and other services.

• Will create 5,800 jobs with an economic impact of US$827 million.

• When completed, operations will create some 10,000 permanent (direct and indirect) jobs with an economic impact of US$1.63 billion per year

• With the new development flights may increased from 1,000 per day to 1,500

Miami Airport Expansion main highlights/features/benefits

Source: http://www.moodiereport.com/document.php?doc_id=34225

http://www.moodiereport.com/document.php?doc_id=34225

http://www.moodiereport.com/document.php?doc_id=34225



Downtown Miami’s Museum Park

Project Summary In the making for 14 years, opened to a patient public in July on the downtown Miami waterfront. The new park replaces the old Bicentennial Park, which saw little use because it lacked attractions and had a design that walled it off from the street.

The site has been essentially closed for years except for special events as it awaited transformation into Museum Park. The $40 million revamp will include a new baywalk and a promenade from Biscayne Boulevard to Biscayne Bay that will provide pedestrian access to the museums as it is currently underutilized for large parts of the year. Pérez Art Museum Miami opened in 12/13 and construction of the Frost Museum of Science is due to be completed in 2015.

Location: 1075 Biscayne Blvd., Miami, FL 33132Total Investment: $40 MillionCompletion date: Phase I 07/2014, Phase II 2015Current Status: Partially Opened



Downtown Miami’s Museum Park

• Art Museum (Pérez Art Museum Miami)• Science Museum (Patricia and Phillip Frost Museum of

Science)• Restaurant• Green Areas

Downtown Miami’s Museum Park main highlights/features/benefits

Source: http://www.miamiherald.com/2014/06/12/4174706/downtown-miamis-museum-park-to.html

http://www.miamiherald.com/2014/06/12/4174706/downtown-miamis-museum-park-to.html



Skyrise Miami (Observatory Tower)

Project Summary "SkyRise Miami" features open sides, a nightclub, event space, amphitheater, restaurant, flight simulator, bungee jump, and a ride with a 50-story "high-speed" drop.

The $300-$400 million SkyRise will be the tallest building in Miami at 1,000.

“It is going to allow Miami to assume its rightful place on the global map of world-class cities,” Berkowitz told Local10. "It's iconic... It's going to be Miami's Eiffel Tower."

Location: ayside Marketplace - 401 Biscayne Boulevard, Miami FL 33132Total Investment: $400 BillionCompletion date: UnknownCurrent Status: FAA approved forced to “technically begin construction” 06/14. City approval not going well over lease term agreement.



Skyrise Miami (Observatory Tower)

• Sky Club• Observation Deck• Ballroom• Restaurant• Flying Theater • Rides

Skyrise Miami (Observatory Tower) main highlights/features/benefits

Source: http://skyrisemiami.com/

http://skyrisemiami.com/

http://skyrisemiami.com/



Island Gardens

Project Summary Island Gardens is slated to encompass the northwestern portion of Watson Island and feature high-rise residences, hotels, shopping, and a mega-yachts marina facility. The mixed-use facility is expected to combine luxury hotel brands Westin and Shangri-La.

Watson Island, is linked to Downtown and Miami Beach by the MacArthur Causeway that is already the site of the Miami Children's Museum, Jungle Island attraction and the Museum Park.

Location: 980 MacArthur Causeway Miami, FL 33132Total Investment: $1 Billion from Flagstone Group (Mehmet Bayraktar)Completion date: Late 2017Current Status: Construction begun 05/31/2014, some officials opposed due to large benefit to a private company and not to the city. Leasing and permit issues. Rent to increase from $2 Million to $7 Million.



Island Gardens

• Extraordinary public area with an integrated waterfront ambiance that transforms an underutilized area into a destination for everyone.

• 50-slip harbor for super-yachts (mega-yachts larger than 80 feet that can reach beyond 450 feet in length).

• Two hotels with state-of-the-art rooms, concierge services, superior amenities, and business-related services

• Will house select boutiques and stores from the US and around

the world• 221,000 square feet of shopping and dining• Vacation homes

Island Gardens main highlights/features/benefits

Source: http://premierguidemiami.com/iisland-garden-project-flagstone-developer-watson-island-developer-buys-another-month/

http://premierguidemiami.com/iisland-garden-project-flagstone-developer-watson-island-developer-buys-another-month/

http://premierguidemiami.com/iisland-garden-project-flagstone-developer-watson-island-developer-buys-another-month/


Apendix

Secondary Projects

1. Bayside Marketplace Revamp2. Hialieah Gardens Industrial Complex3. Downtown Doral4. Miami-Dade marina expansion5. Design District Mallification6. Tri-Ray Blue Line Train7. Bal Harbour Shops Expansion8. Condo development boom9. Ikea Miami


Secondary Development Projects In Miami

Bayside Marketplace Revamp

17,000 square feet of new retail floor space, new walking environment on the street side and improvement of existing parking garages. Bayside leases 17 acres of city-owned waterfront. City will get $3.5M for rent instead $1M of today.

Location: 401 Biscayne Blvd R106 Miami, FL 33132Total Investment: $35 MillionCompletion date: Late 2017Current Status: Lease renovation under approval and city approval Aug 26th

Hialieah Gardens Industrial Complex

242,000 square feet of speculative industrial space. The complex would have individual spaces ranging from 25,000 to 150,000 square feet.

Location: NW 112th Ave & NW 143rd StTotal Investment: $5 Million Land + Development CostsCompletion date: Late 2015Current Status: Under Development



Downtown Doral Development

Urbanism Elizabeth Plater-Zyberk leading the effort to build a city of office towers, condos, townhouses, McMansions, government buildings, parks, hotels and stores for a population expected to double in 2 short years.

Location: Downtown DoralTotal Investment: $1 BillionCompletion date: 2013 - 2019Current Status: Under construction in several phases



Miami-Dade marina expansion

Boat storage building with 508 spaces, renovation of the north beach parking lot with new lighting, landscaping and irrigation, and renovate the boat maintenance yard.

Location: 401 Biscayne Blvd R106 Miami, FL 33132Total Investment: $10 MillionCompletion date: 2015Current Status: Under construction

Design District Mallification

The New Miami Design District will bring unprecedented luxury street dining and entertainment to the streets of the Design District. Storefronts include the most luxurious names such as Hermes, Louis Vuitton, Poltrona Frau, Hermès, Cartier, and Tom Ford.

Location: 3841 NE 2nd Ave, Miami, FL 33137Total Investment: $320 Million Completion date: 2015Current Status: Under construction



Tri-Ray Blue Line Train

At least 24,000 riders would use a proposed new commuter rail line between Jupiter and Downtown Miami. The line lies along Florida East Coast Railway's US 1 corridor tracks, which the company plans to use in conjunction with All Aboard Florida rail service.

Location: Jupiter - MiamiTotal Investment: $300 MillionCompletion date: 2015Current Status: Under construction

Bal Harbour Shops Expansion

Bal Harbor Shops was recently ranked the No. 1 mall in the world, (Shopping Centers Today Magazine). Sales for the mall in 2012 hit a high of $2,555 per square foot, nearly seven times the national average. Mall is expanding 250,000 square feet. The expansion would add about 20 new shops as well as increase the previous standard size for new retailers who would like larger spaces.

Location: 9700 Collins Avenue, Bal Harbour, FL 33154Total Investment: $200 Million Completion date: 2015Current Status: Under construction


Condo Development Boom in Miami

Condo Development Boom

The boom is concentrated inn the eastern swath of Miami-Dade County. 40 condo projects with 6,781 units are under construction, 56 others with 10,807 units are planned, with approvals to go forward, and 36 more projects with more than 8,300 units have been proposed at early stages.*

Getting Upscale / LifestyleAs developers wage an escalating battle to offer the “best of the best,” Miami has turned into a workshop for internationally famous architects like Richard Meier, Zaha Hadid and Bjarke Ingels.

The penthouse at Faena House in Miami Beach was listed for $50 Million), prices at Stuttgart-based Porsche Design's first condo top out at $32.5 Million, moving Miami into an elite circle of global cities where the super-rich come to play or perhaps to do business.

*According to Peter Zalewski, a principal at Cranespotters.com


Condo Development Boom in Miami

Biscayne Landing

Paraiso Bay

Brickell Heights

Panorama Tower

One Thousand Museum Porsche Design Tower

Faena House

One Brickell City Centre

Brickell Flatiron Tower



IKEA Miami

IKEA Miami opened its doors 09/11/14 in Sweetwater, it will be the 39th store in the United States. Under construction for more than a year, the store is IKEA’s largest on the East Coast and its second-largest nationwide, after the one in Schaumburg, Illinois.

Location: Next to Dolphin Mall MiamiTotal Investment: $100 MillionCompletion date: 08/2014Current Status: Opened

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Major development projects that will impact the hotel industry in miami and miami south beach