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Tropicana Field Area Redevelopment
St. Petersburg, FL
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Downtown Redevelopment
Components: For-Sale Residential, For-Rent Residential, Retail, Office, Hotel, Parking
Project Value: $900 million
SAG assisted Hines and the Tampa Bay Devil Rays with financial modeling and analysis related to the redevelopment of the existing Tropicana Field site encompassing approximately 87acres. The mixed-use project included a 250-room hotel, 200,000 square feet of office space, 230,000 square feet of retail space, 800 condominium units, and 300 residential apartments.
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Downtown Orlando PAC Area Redevelopment
Orlando, FL
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Downtown Redevelopment
Components: Residential, Hotel, Office, Performing Arts Center, Parking
Project Value: $800 million
SAG managed the pre-development stage of the redevelopment of a nine acre site in downtown Orlando. The project will include a 200-room hotel, two 400,000 sf office buildings, 500 residential condominium units, and a performing arts center. SAG helped the District program the site, hire the consulting team, identify a developer for each component, negotiate contracts, create a public-private finance and operating plan, liaise with the Board, City and County, and service as the Districts representative an all aspects of the $800 million development.
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Centennial Olympic Park Area Redevelopment
Atlanta, GA
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Downtown Redevelopment
Components: Residential, Hotel, Aquarium, Museum, Retail, Parking
SAG team members assisted with creating and implementing the strategy for developing Centennial Olympic Park to be used during the Olympics as a gathering place, and as a state park after the Olympics. We worked with the State on the due diligence efforts that entailed the coordination of appraisal teams, environmental teams, finance specialists, and cost estimators, and was responsible for preparing the briefing to get the project approved by the Governor and State.
Once the park was approved, we coordinated the redevelopment of the 100 acres surrounding Centennial Olympic Park through a public-private partnership for Central Atlanta Progress, the City of Atlanta and the business community. The 18-month initiative included hosting an Urban Land Institute panel, coordinating the architecture master planning team, fund raising, assembling landowners, soliciting developers, working with financial institutions, and establishing an ongoing organization to see the project through to completion. Ten years later, the area is now home to an Embassy Suites hotel, new Phillips Arena, residential condominiums, World of Coca-Cola museum, and the new Georgia Aquarium the worlds largest salt water aquarium.
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Poplar Point Neighborhood Redevelopment
Washington, DC
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Neighborhood Redevelopment
Components: For-Sale Residential, For-Rent Residential, Retail, Office, Hotel, Parking
Project Value: $1 billion
SAG assisted Forest City Washington with planning the redevelopment of a 150 acre site that was previously a federal reserve into a waterfront-oriented mixed use development. The 15 year master plan included 2,700 condominiums, 200 town homes, 900 apartments, 775,000 square feet of retail, 1.8 million square feet of office space, 600 hotel rooms and 6,000 parking spaces. In total, the project encompassed 8.8 million square feet.
SAG assisted with programming, phasing, and all financial modeling including development cost estimates, financing, operating cash flow projections, project capitalization, and tax increment financing potential. The tax increment was to support $250 million in infrastructure costs.
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Myrtle Beach Air Force Base Redevelopment
Myrtle Beach, SC
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Air Force Base Redevelopment
Components: Theme Park
Project Value: $240 million
SAG team members prepared a feasibility study for the redevelopment of a component of the Myrtle Beach Air Force Base into a theme park. The Myrtle Beach Air Force Base, which was opened in 1942, was closed in 1993 as part of the Pentagons peace dividend base-closing process. SAG studied how a destination theme park could be developed on the base. The concept was called Isle of America and was comprised of eight majors components. SAG studied the market feasibility of the project, projected cash flows, modeled the financing and analyzed investor returns. Ultimately, the developer did not have the required capitalization to complete the transaction. Subsequently, another developer took over the project and developed and opened Hard Rock Park , a destination theme park on the base.
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Downtown Houston Economic Development Policy
Houston, TX
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Policy Development
Components: Downtown Hotel Redevelopment
SAG created an economic development policy to foster the development and redevelopment of smaller hotels in the downtown area. Following the successful financing of the 1,200-room Hilton Americas convention hotel, the City desired to foster the development and redevelopment of smaller hotels in downtown that would support the convention center and local businesses. SAG helped the City develop an economic development policy that provided hotels with a rebate of a portion of the hotel occupancy tax they generate for a period of ten years if the hotel was developed or redeveloped, and provided a room block to convention center events. A number of hotels took advantage of the economic stimulus package and several hotels were developed and redeveloped.
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Georgia Department of Economic Development Tourism Strategic Plan
State of Georgia
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Statewide Economic Development
Components: Economic Development Strategic Plan
SAG developed a strategic plan to assist the State of Georgia with enhancing its position in the tourism industry. Areas addressed included an awareness survey, advertising plan, economic impact assessment, public-private linkages, regional boundaries and business recruitment initiatives.
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