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THE ASTRODOME – HARRIS COUNTY, TX December 14 - 19, 2014
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SPECIALTHANKS TO:
Houston Livestock Show and Rodeo:– Joel Cowley
Houston Texans: – Jamey Rootes
City of Houston, TX:– Mayor Annise Parker
ULI Houston:– Ann Taylor
Harris County, TX:– Judge Ed Emmett– Ryan Walsh
Harris County Sports and Convention Corporation and Staff at NRG Park:
– Edgardo Colon– Kevin Hoffman– Mark Miller– Nicole Mezaros-Richardson– Nina Jackson– Kyle Walstad
National Trust for Historic Preservation:– David Brown– Beth Wiedower
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• The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.
• ULI is a membership organization with nearly 35,000 members, worldwide representing the spectrum of real estate development, land use planning and financial disciplines, working in private enterprise and public service.
• What the Urban Land Institute does:– Conducts Research – Provides a forum for sharing of best
practices– Writes, edits and publishes books and
magazines– Organizes and conducts meetings– Directs outreach programs– Conducts Advisory Services Panels
About the Urban Land Institute
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• Since 1947
• 15 - 20 panels a year on a variety of land use subjects
• Provides independent, objective candid advice on important land use and real estate issues
• Process
• Review background materials
• Receive a sponsor presentation & tour
• Conduct stakeholder interviews
• Consider data, frame issues and write recommendations
• Make presentation
• Produce a final report
The Advisory Services Program
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The PanelWayne Ratkovich, ChairPresidentThe Ratkovich CompanyLos Angeles, CA
Amy BarrettVice PresidentPermar, Inc.Charleston, SC
Peter HasselmanOwnerPeter M. Hasselman, FAIAOrinda, CA
Cary HirschsteinPartnerHR&A Advisors, Inc.New York, NY
Todd Mead, LEED, ASLAPWP Landscape Architecture Berkeley, CA
Robert MillsPrincipalCommonwealth ArchitectsRichmond, VA
Tom MurphySenior Resident Fellow, ULI/Klingbeil Family Chair for Urban DevelopmentULI - Washington, D.C.
David PanagoreExecutive DirectorPark New HavenNew Haven, CT
Douette PryceFounderPryce Resource LLCSewalls Point, FL
Kevin RiegerSenior Vice President, Real Estate DevelopmentAnschutz Entertainment Group (AEG)Los Angeles, CA
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THE VISION
• Communicates the can-do spirit of Texas, Harris County Houston to the world
• Creates a one-of a kind, publicly-accessible cultural & recreational destination for residents and visitors alike
• Enhances the overall visitor experience at NRG Park
• Provides new opportunities for the park’s three major tenants:
– The Texans – new space for game day activities, fan zones, etc.
– The Rodeo – covered event space & additional parking
– The OTC – much needed additional exhibit space
The Creation of a Grand Civic Space That:
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THE VISION
• Parks, gardens & green spaces • Outdoor festivals• Seasonal programs & celebrations• “Adventure park” experiences
– Indoor rock climbing– Zip lines– Mountain bike & running trails
• Public facilities – Libraries– Natatorium– Skate park
Key Components: Civic Space & Recreation
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THE VISION
• History of the Astrodome– Biggest room in the world– Architectural & engineering innovation– Astroturf
• Historical sporting events – Battle of the Sexes, 1973– Evel Knievel’s historic jump over 13 cars– “Game of the Century” – Houston
beating UCLA in 1968– The Mets edging the Astros in a 16-
inning Game-7 showdown in 1986• Astrodome’s role in desegregation
Key components: Honor & Celebrate
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THE VISION
• Houston’s legacy of space & energy innovation
• STEAM—Science, Technology, Engineering, the Arts and Math
Key Components: Honor & Celebrate
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THE VISION
• Houston Livestock Show & Rodeo– Established in 1932– Nearly $375 million in donations raised– 30,000+ volunteers from all over the
region
Key Components: Honor & Celebrate
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MEMORIAL PARK
BUFFALO BAYOU
DOWNTOWN
ASTRODOME AT NRG PARK
HOBBY AIRPORT
HERMANN PARK
URBAN CONTEXT
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HERMANN PARKRICE UNIVERSITY
BRAYS BAYOU
BRAYS BAYOU GREENWAYTEXAS MEDICAL CENTER
MUSEUM DISTRICT
ASTRODOME AT NRG PARK
DISTRICT CONTEXT
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HERMANN PARK
BRAYS BAYOU
BRAYS BAYOU GREENWAYTEXAS MEDICAL CENTER
MUSEUM DISTRICT
ASTRODOME AT NRG PARK
DISTRICT CONTEXT
CONNECT THE BAYOU!
RICE UNIVERSITY
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GUIDING PRINCIPLES
• The Astrodome will remain and be REVITALIZED.
• The Astrodome is a CIVIC SPACE, open to the community.
• The Astrodome is ACCESSIBLE and CONNECTED.
• The Astrodome is not a relic but has an important history and FUTURE.
• The Astrodome is a DESTINATION.
• The Astrodome must be an ASSET to the current users- the TEXANS, the RODEO, and the OTC.
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DOME IN A PARK
PARK IN A DOME
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PARK IN A DOMEDOME IN A PARK
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DESIGN PRINCIPLES
• RESPECT the Astrodome.
• CELEBRATE the four primary architectural assets of the Astrodome.
• Make it GREEN.
• Make it FORWARD THINKING and ENERGY EFFICIENT.
• Bring it ALIVE throughout the DAY and throughout the YEAR.
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CIVIC PARK
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CIVIC PARK AND ASTRODOME PARK
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PROMENADE
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PERMANENT PAVILIONS
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PORTALS
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SHADED CONNECTIONS
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MORE GREEN SPACE
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PEDESTRIAN CONNECTED
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SITE PLAN
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PARK PROMENADE
LIGHT RAILASTRODOME PORTAL
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PARK IN THE DOME
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PARK IN THE DOMEPARK IN THE DOME
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PARK IN THE DOMEINSIDE THE DOME
PUBLIC SPACE / VIEWING
PROGRAMMABLE
PROGRAMMABLE
PROGRAMMABLE /VIEWING
PROGRAMMABLE
PARK / EVENT FLOOR
PARKING
PARKING / MULTI-USE
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HOW IT WORKS
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CIVIC GREEN
HOW IT WORKS
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ADVENTURE PLAY
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CULTUREINNOVATIONEDUCATION
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RODEO
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GAME DAY
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EXHIBITIONSCONFERENCETRADE SHOW
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DEVELOPMENT STRATEGY
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EXPANDS CORE BUSINESS
• Extend GamedayExperience
• New Spaces for Rodeo• Added space for OTC
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CREATION OF NEW REVENUE STREAMS
• Community Festivals
• Farmers Markets• Movie Nights• Charity Events• Private Events
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OVER 1,500 NET NEW PARKING SPOTS
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ADDITIONAL REVENUE STREAMS
• Programmable Pods
• Sponsorship Activation
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IMPLEMENTATION PLAN
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THE TEAMWORK OF FINANCING,or how many hands put a light touch on your wallet
• Public-Private Partnership Successes– Soccer Stadium– Justice Complex– TRZ24– Buffalo Bayou– Discovery Green
The Local Tradition
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THE TEAMWORK OF FINANCING
Challenges at NRG Park
• Agreements need a refresh
• Existing resources do not meet needs
The Local Tradition
The Opportunity
• Broad public-public-private partnership
• Reinvent a shared icon
• Prime a regional economic engine
– New premier space
– Job creation
– Regional visitation
– Support neighborhood real estate investment
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THE TEAMWORK OF FINANCING,or how many hands put a light touch on your wallet
• The City through TRZ24 with a regional benefit
• Houston First, HOT tax revenues• The Rodeo and the Texans with improved
operations and opportunities under the Dome, help maintaining conditions at the Astrodome.
• The Philanthropic and Business Community once opportunities for leadership are identified.
• Working together there are opportunities for partnership, while maintaining Project goals
Teamwork Potentials
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THE TEAMWORK OF FINANCING
Other potential sources:
• New Markets Tax Credits
• Conversion Tax Credit
• Federal Energy Funds
• State Energy Funds
Potential capital sources
County bond issue
County TIRZ
Houston First hotel tax
Historic Tax Credits
Other potential contributions
Philanthropy
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THE TEAMWORK OF FINANCING,or how many hands put a light touch on your wallet
• Revamp the current approach to R & R funds
• The 1998 Financing Agreement– inflation and proper allocation of
funds• A Replacement and Reserve • Should be at least 10% of the
replacement costs – Based on:
• Event Ticket Surcharge • Parking Ticket Surcharge • City participation in TRZ24
– Set limits, apportioned to each fund and the site
World Class Upkeep
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MAINTAINING A WORLD-CLASS CIVIC SPACE
Vision, planning & execution must align along a singular framework
VISION & PROGRAM
GOVERNANCE STRUCTURE
SUSTAINABLE FINANCIAL
PLAN
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GOVERNANCE & STEWARDSHIP MODEL
Align interests:
Recommendation: Create an independent entity to manage the new Astrodome
Regional economic
development
Astrodome & NRG Park
tenants
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GOVERNANCE & STEWARDSHIP MODEL
Harris County/ HCSCC
City of Houston
Existing NRG Park tenants
New Dome tenants
Civic & community leaders
Potential Leadership
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GOVERNANCE & STEWARDSHIP MODEL
Management Responsibilities
Tenanting of institutional & commercial uses
Operations & maintenance of Astrodome & Promenade
Conception & execution of exciting programming strategy
Coordination with HCSCC & key tenants on event days
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A SUSTAINABLE FINANCIAL PLAN
Operating costs vary based on size, visitation & program
$460,000 $594,000 $676,000
$1.3M
$1.6M
$0.0$0.2$0.4$0.6$0.8$1.0$1.2$1.4$1.6$1.8
Brooklyn BridgePark
Yerba BuenaGardens
Millennium Park High Line Bryant Park
Millio
ns
Operating Cost per Acre
Source: HR&A Advisors, Inc., 2013
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A SUSTAINABLE FINANCIAL PLAN
Operating costs vary based on size, visitation & program
$0.0$0.2$0.4$0.6$0.8$1.0$1.2$1.4$1.6$1.8
Brooklyn BridgePark
Yerba BuenaGardens
Millennium Park High Line Bryant Park
Millio
ns
Operating Cost per Acre
Source: HR&A Advisors, Inc., 2013
Astrodome & Promenade
Assumes that tenants will operate & maintain their own spaces
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A SUSTAINABLE FINANCIAL PLAN
Public PrivateEarned Income
50
1(
c)
(3
)
General Fund/Bond
Special Levy
BID Charge/Bond
Parking Fees/Bond
Food &Beverage
Events & Promotions
Corporate Sponsorship
Philanthropy Real EstateProceeds
Source: HR&A Advisors, Inc., 2013
Public-Private Funding Opportunities
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A SUSTAINABLE FINANCIAL PLAN
Operating Income: Discovery Green
Earned income
Licensing & sponsorship
City funding
Philanthropy
~$4.5 million annual operating budget
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A SUSTAINABLE FINANCIAL PLAN
Operating Income: Potential Target Funding for Astrodome
PhilanthropyGov’t
funding
Parking revenues
Licensing & sponsorship
Other contributions
Earned income
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ARE YOU SATISFIED??
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AN INTERSECTION OF CHOICES
• To act rather than procrastinate
• To demand quality rather than settle for mediocrity
• To be bold rather than timid• To create a common
interest rather simply protect self interests
• To protect the status quo rather than reach for the future
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CHANGE
Horatio Nelson Jackson’s Road Trip
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THE GRAND BARGAIN
• A common vision
• Focused leadership and partnership
• Insistence on quality
• Financing the dream
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Where Will the New Roads Lead… IMAGINE! REACH!
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QUESTIONS ?