Catalogo del paisaje Bayahibe Sheila Wallasch y Ambar Escoto
BAYAHIBE - USF Florida Institute of...
Transcript of BAYAHIBE - USF Florida Institute of...
BAYAHIBEENHANCING THE DOMINICAN CULTURE IN ALLAPATTAH
The TeamWe are a non-profit development company focused on economic development
through entrepreneurship, incubation and community revitalization
Mileyka Craig IrisValamereJordanneGeneral Contractor Community
Engagement Advisor
Financial Advisor Government Relations Advisor
Project Leader
Dominican community
starts settling in Miami
1960’s 2014
2015
2016
1970’s
DOMINICAN DISTRICT TIMELINE
1980’s
1990’s2013
2003
17th Avenue and
Comstock Park named
Juan Pablo Duarte
Unofficial Dominican
business district
created on 17th Ave
Dominican community
growth in Allapattah
Little Santo Domingo
area designated by
City of Miami
University of Miami
community charrette
in urban design
Creation of Little
Santo Domingo as a
destination included in
City of Miami’s
Strategic Plan
City of Miami Planning
Dept releases “Little Santo
Domingo Design Standards
and Improvement Ideas”
BAYAHIBE
proposed
Development Concept
To build an incubator focused on destination economic
development to revitalize the Allapattah community.
● Leverage the growth of historic and new businesses
● Enhance the quality of life of residents
● Preserve the Dominican culture of the area
Cultural Incubator Concept
▪ Engage & support members AND the broader community
▪ Develop strategic partnerships
▪ Offer technical business assistance & mentorship placement
▪ Host artistic and cultural shows and social events
BAYAHIBE:
COWORKING:
INCUBATOR:
A coworking space & business incubator that will serve as a
community hub & activator for cultural tourism in Allapattah
▪ Collaborative, affordable, & professional working environment
▪ Shared “collective” workspaces
▪ Rentable conference spaces
▪ Private offices
Incubators Work!
●Diverse support network
●Collaboration opportunities
●Low-cost office space
●Boost Productivity*
●Increase confidence*
●Knowledge-sharing
Building & Interior Space
Design Concept
FOCAL DESIGN:
▪ Natural Light
▪ Raw wood / Bamboo
▪ Repurposed and affordable materials
USE:
▪ Flexible Space
▪ Day and Night activities
▪ Encourages social interaction
▪ Honor the history of the neighborhood
First
Floor
La Bomba
Carwash
Commercial
Kitchen
Criollisimo
BonCafe
SDQ
Xcolat Pizzarelli
Temp Arts & Cultural Vendors Hallway
Sushi
Barra
Payan
Colmado
Shared
Commercial
Kitchen
Second Floor: Virtual Office &
Co-Sharing Space
Third Floor: Rooftop Terrace
Energy Conservation StrategyGoal: To reduce energy consumption, and maximize energy efficiency by utilizing
renewable and alternative energy strategies like Solar Investment Tax Credit (ITC)
WATER
❖ Install sub meters to
monitor water flow
❖ Drip Irrigation for wall
gardens
❖ ULF- Ultra low flush
toilets
❖ Monthly monitoring to
ensure correct use
MATERIALS
❖ Renewable, recycled
material
❖ Flooring-Industrial
concept- Polished
concrete
❖ Energy efficient
products
ELECTRICITY❖ Solar panel roofing
❖ Solar powered street
lights
❖ generator backup for
hurricane season
Workday
• Open collective spaces that can
comfortably fit 50 members
including a quite lounge area
• Reception area open
• 2 private phone booths
• 2 conference Rooms
24/7
• 12 Private offices
• Lockers
• 2 Bathrooms
• Kitchenette
• Outdoor garden
Night Life
• Art shows
• Public presentations
•Workshops
• Trainings
• Discounted or free to members
• Open to the public for fees
Operational Programming
Site Location: Allapattah
3010 NW 17th Avenue,
Miami, FL 33142
▪ Zoning: T6
▪ Parking: 24
spaces
▪ No Environmental
Concerns
Site Location:
Allapattah
Walkability: 84%
Transit Access: 58%
Bikeability: 58%
Source: www.walkscore.com
Lit
tle
Sa
nto
Do
min
go
Metrorai
l
Metrorai
l
Metrorai
l
Neighborhood &
Adjacent Areas
● Wynwood
● Coconut Grove
● Little Havana
● Downtown
● Brickell
● Miami Int’l Airport
Area Demographics: Dominican Population
Over 160,000
Dominicans in Florida
101,943Dominicans
in South Florida
58,000Dominicans in Miami Dade
County
Area Demographics: Allapattah Population
Foreign Born Population
55% 38years old
Median Age
Market Demand as a Cultural Destination
*Average Data for last 4 years in zip code 33142
Food based services refers to supermarkets, restaurants, food distribution.
17,348
Households in zip code
33142
$27,230
(AMI) Area Median
Income in zip code 33142
$994M
Average retail sales in
last 4 yrs
$189M
Average spent in food
based services per
year
$119M
Spent by local households in
food based services yearly
Acquisition
• $1,500,000Land Purchase
• $3,000,000Construction
• $800,000Pre-Development
• $5,300,000Sub-Total
• $424,000Developer Fee
• $5,724,000Total
Revenue
Sources
• $48,000Co-Sharing
Space
• $72,000Private
Office Space
• $72,000Commercial
Space
• $24,000Shared Kitchen
• $96,000Rooftop
Restaurant
• $312,000Total
Expenses
• $42,000Salaries
• $20,500Various Maintenance
• $15,000Utilities
• $0Property Taxes
• $36,000Insurance
• $12,000Replacement Reserve
• $18,000Dividend
• $143,500Total
Debt Coverage
Ratio
$152,900
$113,328
$39,572
1.35
Net Operating Income
Debt Service
Before Tax Cash Flow
Debt Service Coverage Ratio
Financing Strategy
Lorem ipsum dolor sit amet,
consectetur adipiscing
elit, sed do eiusmod
tempor incididuntEquity Shares
New Market
Tax Credits
Section 108 Commercial Loan
$5,724,000
$3,148,200
Commercial Loan: $1,431,000Section 108 Loan: $1,717,200
Senior Debt
New Market Tax Credits
$1,717,200
Equity
$1,000,000
$10,000/Share
The Ask
$10,000 / ShareSingle Share Purchase
(Designed for Individual Investor)
Program Related Investment
(Designed for Community Banks)
What’s In It For Me?
Dividend
A dividend is a distribution of a portion
of a company's earnings, decided by
the board of directors, to a class of its
shareholders.
Dividends can be issued as cash
payments, as shares of stock, or other
property
Growth & Appreciation
$18,000 First Year Dividend
$18,000 / 100 Shares =$180
$180 / $10,000= 0.018
Almost 2% Return On Investment
+3% / Year Appreciation
Miami Dade County
COMMITTED COMMUNITY PARTNERS
●Hispanic Business Initiative Fund
●Knight Foundation
●University of Miami
●Miami Dade County
●Miami Foundation
●FCDI
●Community Banks
ECONOMIC
Almost 2% ROI
More Businesses
Growth & Appreciation
SOCIAL
Community Ownership
Wealth & Job Creation
Cultural Pride
Enhance Tourism
Gathering Spaces
ENVIRONMENTALEnergy Conservation Renewable Materials
Green Wall Concept
The Big Picture: Triple Bottom Line
BAYAHIBEENHANCING THE DOMINICAN CULTURE IN ALLAPATTAH