New World Symphony

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Neisen kasdin, Breaking the Mold: Unlikely Partnerships that are Transforming Cities

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New World Symphony

  1. 1. New World Symphony Miiami Beach, Florida ULI Spring Meeting: “Breaking the Mold: Unlikely Partnerships that are Transforming Cities” - Neisen Kasdin, Akerman Senterfitt
  2. 2. Financial Structure Total Building Cost: Operating Endowment: $162 million $38 million - Private Funds Sources of Funds: - Anonymous Gift $90 million - Sale of Lincoln Theater $21 million - City of Miami Beach Grant $15 million - County Grant ($30 million) NPV- $24.3 million - Arison Arts Foundation Grant $11.7 million
  3. 3. Financial Structure Total Garage and Park Cost: - Park $13,000,000 - Garage $17,000,000 Sources of Funds: - City Center RDA $30 million
  4. 4. Timeline Project Approved by City of Miami Beach 2001 Ground Lease with City of Miami Beach 2002 Development Agreement with City of Miami Beach 2004 Commencement of Construction 2008 Completion January 2011

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