The document provides an update on the proposed Phase III expansion of the San Diego Convention Center. It summarizes the recommendation of a 2009 citizen task force to proceed with the expansion. An analysis projected the expansion would generate over 650,000 new hotel room nights and $121 million in new hotel sales annually. The proposed expansion would add 1.27 million square feet and cost $711 million. The current design includes over 70,000 square feet of accessible public space, including gardens, lawns, and views of the waterfront and bay. Financing would come from new revenues including a port lease and taxes, with a maximum project cost of $550 million.
6. AECOM Analysis of Proposed Expansion Data compiled from meeting and event executives 25 primary events 246,861 attendees for 3.86 nights at $185 ADR 657,000 potential new room nights $121,081,000 in new hotel room sales revenue 6
35. Constructing Cost EstimatingConclusion All required program elements can be constructed for $500 million including reasonable and appropriate design/construction contingency With $50 million fund reserved for unanticipated site conditions and entitlement issues, total project costs and total amount of bond proceeds needed to fund the project is $550 million Project’s all-in, maximum cost exposure--$550 million 35
36. FinancingNew Revenues Generated by Expansion Revenue sources proposed but not yet approved Port Lease Revenue and City TOT from Expansion Hotel Centre City Project Area tax increment Self-assessment by beneficiaries in assessment district or CFD structure Lodging Industry Downtown food/beverage/retail sales City-wide taxicab “flag drop” 36
51. needs assessment 2009 Critical open space needs: + Multi-purpose urban parks serving downtown residents + Multi-purpose space for people to gather + Connectivity of parks and waterfront
52. needs assessment 2009 Activity needs that can be provided on rooftop public space: + multi-purpose open space + playgrounds/tot lots + picnic areas + outdoor seating areas + natural areas + waterfront access + outdoor amphitheater + concessions/food in parks + interactive fountains/water play + outdoor game tables + restrooms + signage/wayfinding + educational classes . . . . . . . . . . . . .
59. public realm accessible spaces the perch the meander/coastal garden the great lawn the gathering place the ascent the grand staircase visible green roof esplanade 7. 1. 2. 3. 4. 7. 6. 5. 8.
81. public realm accessible spaces the perch the meander/coastal garden the great lawn the gathering place the ascent the grand staircase visible green roof esplanade 7. 1. 2. 3. 4. 7. 6. 5. 8.