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1985 – Tidewater Regional Transit proposed developing an $11 million transit center at the Dome (City Council rejected) 1990 – Proposal for Dome and all surrounding land to be turned into a commercial entertainment center with public plaza 1991 – City hires Basile, Baumann and Assoc. ($70,000) to recommend use; they proposed mixed-use with a planetarium 1991 – ODU studies Dome site, concludes: “ DO SOMETHING! NOW! THE DOME HAS BEEN STUDIED TO DEATH ” 1993 – Proposal for Dixie Stampede, Civil War themed dinner-theater operation 1994 -- Dixie Stampede proposal abandoned after opposition from civic leaders 1994 – “The Dome” is demolished 1995 – Resort Advisory Commission suggests building an amusement park or playground as temporary attraction until decision for development is made 1996 – Ellis Gibson / CRES present “Atlantic Walk” plan, including mixed -use entertainment and retail district 1998 – Harvard Study released, describing the Dome Site as “jewel of the Oceanfront”; Beach leaders suggest shopping and entertainment center 2000 – Pavilion Steering Committee assembled, engages PriceWaterhouse Coopers study to consider developing Convention Center at Dome 2
2002 – City hires Skidmore Owings & Merrill to design new Convention Center; City considers Dome site 2006 – Sun Rise Development Co. Ltd. proposal for hotels, condos, medical center, retail & shopping center, and fitness center 2006 – Proposal for indoor/outdoor wave pool, multiplex, indoor wind tunnel, rock climbing wall, and live theater venue 2007 – VBDA seeks additional plans to develop Dome Site, including Wave Loche, Armada Hoffler, Live Nation, Select Contracts (Dubai) for an indoor ski resort and Jenkins 2008 – Leisure and Recreation Concepts Inc. (Jenkins) is selected to develop Dome Site into a mixed-use entertainment center 2008 – City hires Sasaki Associates Inc. to master-plan Oceanfront and Dome site 2012 – Michael Jenkins abandons the project 2013 – RFP for the Dome Site 2014 – Negotiations with The Peterson Cos. begin 2015 – The Peterson Cos. unveils plans for “VA ViBE ” including a luxury movie theater, upscale bowling alley, restaurants and shops 2016 – The Peterson Cos. abandons the project 2017 – RFQ for the Dome Site 3
David B. Hollingsworth - The Virginian-Pilot 4
• Multi-block mixed use development • Entertainment concepts • Minimum 3,500 seat live entertainment performance venue • Unique or new to market retail • Unique or new to market authentic restaurants • Residential but not as a primary use • Year-round programming attractive to both locals and tourists 5
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OVER 25 PUBLIC / CIVIC EVENTS OVER 2,500 SURVEY RESPONDERS OVER 1,400 WRITTEN COMMENTS INTERNATIONAL MEDIA AND SOCIAL ENGAGEMENT 9
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"Retail here needs to be unique. Please no more souvenir shops or national chains.” "Avoid cheesy tourist shops (t-shirts, henna tattoos, ice cream, candy - no thanks!).” "A mix of both local arts and higher-end chains. Not tourist t-shirt shops. We have enough hermit crab sales." "Please not just another cheap beach store like most of what is on the strip." 11
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To achieve DESIRED PROJECT ELEMENTS and MASS, we must go VERTICAL. To go VERTICAL, we must INTEGRATE PARKING to STACK USES. CHALLENGE: How do we INTEGRATE PARKING at an AFFORDABLE COST? To TRANSFORM the Oceanfront, we need to ELEVATE the level of QUALITY. To elevate quality, we need to invest in DESIGN. CHALLENGE: How do we ELEVATE level of QUALITY at an AFFORDABLE COST? 14
ADVANTAGES DISADVANTAGES • LESS COST PER SPACE • CANNOT SUPPORT VERTICAL CONSTRUCTION • INEFFICIENT USE OF SPACE (LIMITS SCALE OF RETAIL DUE TO STRUCTURAL SHEAR WALLS) • OFTEN UNSIGHTLY 15
ADVANTAGES • SUPPORTS VERTICAL CONSTRUCTION • ECONOMICAL USE OF SPACE • ALLOWS LARGE AREAS FOR RETAIL ANCHORS • PROVIDES SAFE PARKING “INTERNAL” TO BUILDING DISADVANTAGES • LESS COST-EFFECTIVE 16
ADVANTAGES • COST-EFFECTIVE DISADVANTAGES • DOES NOT ALLOW LARGE ANCHOR USERS • PROMOTES SOUVENIR SHOPS • OFTEN WOOD-FRAMED (LESS RESILIENT TO STORMS) • LIMITED HEIGHT 17
ADVANTAGES • TRANSFORMS PERCEPTION OF RESORT AREA • ATTRACTIVE TO OUT-OF-MARKET BUSINESSES • “RAISES BAR” FOR FUTURE DEVELOPMENT • STEEL / CONCRETE CONSTRUCTION MORE RESILIENT TO STORMS DISADVANTAGES • ADDITIONAL COST 18
Inspirational Image Only 19
To secure large, experiential retail like National Geographic: Ultimate Explorer , we need SPACE , MASS and CONVENIENT PARKING . SPACE : Nat Geo needs 35,000 sf with clear, open bays. MASS : Users like Nat Geo need a critical mass of ticketed attractions and retail to promote synergy. CONVENIENT PARKING : All retailers need convenient parking. When the success of the retailer depends on recruiting several hundred thousand patrons in all-weather, the need is greater. EACH OF THESE NEEDS COMPETE FOR SPACE. RETAIL STRUGGLES WHEN THESE THREE ELEMENTS ARE ABSENT. 20
IP2’S “THE BRIDGE” ORANGE COUNTY, CALIFORNIA NATIONAL GEOGRAPHIC ULTIMATE EXPLORER SURVIOS VIRTUAL REALITY ARCADE SHENYANG, CHINA TORRANCE, CALIFORNIA 21
TOPGOLF SWING SUITE BROOKLYN BOULDERS CINEPOLIS & CINEPOLIS JUNIOR 22 HOUSTON, TEXAS BROOKLYN, NEW YORK PICO RIVERA, CALIFORNIA
RIVER CITY ROLL BOXCAR BARCADE 23 RICHMOND, VIRGINIA RALEIGH, NORTH CAROLINA
THE “INTEGRATED PARKING” MODEL SCOPE RETAIL / F&B / CINEMA 264,800 sf OFFICE 150,000 sf RESIDENTIAL 426 units PARKING (DECK) 1,935 spaces PARKING (STREET) 70 spaces PARKING (TOTAL) 2,005 spaces • WORLD-CLASS DESIGN • STATE-OF-THE-ART MUSIC VENUE • EVENT-LEVEL SURF PARK • INDOOR ATTRACTIONS / RETAIL • HEADQUARTERS OFFICE • INTEGRATED PARKING • MAXIMIZED ECONOMIC IMPACT 24
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DURING CONSTRUCTION AS STABILIZED 29
DIRECT IMPACTS: Real Estate, Sales, F&B, Admissions and Other Tax Revenues: 1 st Year: $8,170,400 This number does NOT include additional direct revenues such as parking fees and rents, which can equal up to $4 million per annum. 30
INDIRECT IMPACTS EST. 80,000 NET NEW ROOM NIGHTS (NEW STAYS / EXTEND LENGTH OF STAY) VISITOR PROFILE INCREASED REAL ESTATE VALUES • 34 years old AVG ANNUAL INCREASE IN VALUE OVER 12 YEARS: • Educated • AROUND MAJOR INVESTMENTS CITY-WIDE Earns +$75K / year 8%+ • LESS THAN 1% Families 31
Proactive Stormwater Planning • Improving current stormwater infrastructure • Use existing filtration to efficiently harvest on-site rainwater for lagoon • Potential to harvest off-site water • Potential to use new technologies to promote positive stormwater impacts throughout Central Beach 32
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