BAYAHIBE ENHANCING THE DOMINICAN CULTURE IN ALLAPATTAH The Team We - - PowerPoint PPT Presentation
BAYAHIBE ENHANCING THE DOMINICAN CULTURE IN ALLAPATTAH The Team We are a non-profit development company focused on economic development through entrepreneurship, incubation and community revitalization Mileyka Jordanne Craig Valamere Iris
ENHANCING THE DOMINICAN CULTURE IN ALLAPATTAH
We are a non-profit development company focused on economic development through entrepreneurship, incubation and community revitalization
Mileyka Craig Iris Valamere Jordanne
General 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’s 2013 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.
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
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 Bon Cafe 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 Strategy
Goal: 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
comfortably fit 50 members including a quite lounge area
24/7
Night Life
Operational Programming
3010 NW 17th Avenue, Miami, FL 33142
▪ Zoning: T6 ▪ Parking: 24 spaces ▪ No Environmental Concerns
Site Location:
Walkability: 84% Transit Access: 58% Bikeability: 58%
Source: www.walkscore.com Little Santo Domingo Metrorai l Metrorai l Metrorai l
Neighborhood & Adjacent Areas
Area Demographics: Dominican Population
Over 160,000 Dominicans in Florida 101,943 Dominicans in South Florida 58,000 Dominicans in Miami Dade County
Area Demographics: Allapattah Population
Foreign Born Population
years 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
Land Purchase
Construction
Pre- Development
Sub-Total
Developer Fee
Revenue Sources
Co-Sharing Space
Private Office Space
Commercial Space
Shared Kitchen
Rooftop Restaurant
Expenses
Salaries
Various Maintenance
Utilities
Property Taxes
Insurance
Replacement Reserve
Dividend
Total
Debt Coverage Ratio
$152,900 $113,328 $39,572 1.35 Net Operating Income Debt Service Before Tax Cash Flow Debt Service Coverage Ratio
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Equity Shares New Market Tax Credits Section 108
Commercial Loan
$3,148,200
Commercial Loan: $1,431,000 Section 108 Loan: $1,717,200
Senior Debt New Market Tax Credits
$1,717,200
Equity
$1,000,000
$10,000/Share
The Ask
Single 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
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
ECONOMIC
Almost 2% ROI More Businesses Growth & Appreciation
SOCIAL
Community Ownership Wealth & Job Creation Cultural Pride Enhance Tourism Gathering Spaces
ENVIRONMENTAL
Energy Conservation Renewable Materials Green Wall Concept
The Big Picture: Triple Bottom Line
ENHANCING THE DOMINICAN CULTURE IN ALLAPATTAH