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Centennial Olympic Park Area Redevelopment
Atlanta, GA
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Multiple Downtown Entertainment Venues
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 world's largest salt water aquarium.
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Isle of America Theme Park
Myrtle Beach, SC
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Theme Park
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 Pentagon's "peace dividend" base-closing process. The study focused on 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. Scope of services included a market feasibility of the project, cash flow projections , financing plan modeling, and investor return analysis. 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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Myrtle Beach Amphitheater
Myrtle Beach, SC
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Amphitheater
Components: 20,000-Seat Amphitheater
Project Value: $14 million
SAG professionals prepared a market and financial feasibility study for an outdoor amphitheater for the Burroughs & Chapin Company, a large east coast private landowner and developer and the primary driver behind the development in Myrtle Beach. The scope of work included analyzing current industry trends, demographic/economic data, market tourism trends, competitive facilities, case studies of the top 25 amphitheaters in the country and other comparable destinations, interviews with local and regional event promoters, and working with architects to summarize key architectural parameters. The report addressed the market demand opportunity, financial operations, building program, marketing strategies, and development strategies.
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Hollywood Waterpark
Hollywood, FL
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Waterpark
Components: Water Park
Project Value: $20 million
SAG professionals prepared a market and financial feasibility for the proposed development of a water theme park located on 22+ acres just off Interstate 95 in Hollywood, FL. The proposal was brought before City Council, which wished to evalutate the viability and potential risks of such a project. The study addressed 1) physical issues, such as site, design, construction cost, life expectancy and maintenance issues; 2) market potential based on a regression analysis of population, tourism, park capacity, parking capacity, temperature, operating season and other similar factors; 3) operating and financial issues, including management alternatives, financing alternatives, land lease issues and operating financial potential; and 4) economic impact in terms of direct and induced spending, employment and earnings.
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1996 Summer Olympic Games White Water Kayaking Venue
Ocoee River, Polk County, Tennessee
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White Water Kayaking Venue
Components: White Water Kayaking Venue
SAG estimated the economic impact of the 1996 Summer Games White Water Kayaking venue on the Ocoee River in Polk County, Tennessee. The analysis quantified the impact on the county and state as a result of the construction spending and ongoing operations of the facility, both during the Olympics and as a tourism catalyst in future years. Benefits to the community included spending from tourism, job and incremental new tax revenues.
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