Places to knock down for stadium

[ThePorge]

you are right. i used the adjusted area of the lot, not the lot size. so it is about 42 acres. that would big enough to build a stadium, but not big enough to contain all the parking required. thank you for the correction. apologizes to @TheOriginalCane

No worries

 

[954Cane'21]

Why not talk about bulldozing 120-140 homes and a couple of businesses in Coral Gables within walking distance from campus instead. I work down the street from the site you outlined and I've worked in social services in Miami-Dade for 30 years. It is not easy to move the residents. They're not cattle or sheep and they have roots in the community. They don't need Ruiz to build them a village and they definitely don't need their homes bulldozed to build a stadium that won't benefit the community. Moving forward with more planned affordable housing in that area is what is needed. Tropical Park, as I see it, is the only reasonable option. It's a huge park that could accommodate a $50,000 seat stadium without much disruption to the amenities the park already provides. The park can be approached from 826/874 north or south, Bird Road, Miller Drive, and Galloway Road all of which are already equipped to handle a lot of traffic. They will address entry/exit in the proposed design I'm sure.

140 * $500,000 = 80,000,000 Pretty easy sell for the land for a 2-300 Mil stadium
140 * 2,000,000 = 280,000,000 Unreasonable for a 2-300 Mil stadium

We're buying from willing sellers in a free market at prices dictated by that free market. I've seen the teams that acquire land for projects like this. You start handing out $500k checks and you'd be surprised how fast people move.

As for the stadium won't help the community comment. If you look at the site, it sits directly within the vicinity of 3 different public schools. Stadiums are an easy way to jack property taxes without changing the taxes of the residents around it. Those schools and that community would get ALOT of good from that property.

Lastly that community DOES need more multifamily. There's far too many single family homes in Miami dade in a situation where the only thing that's going to bring prices down is volume. If you really want cheap affordable housing in Miami, you have two options. Start lobbying for massive swathes of everglades or homestead area to start being developed. OR tear down single-family units to add multifamily.

 

[OriginalCanesCanesCanes]

USC breaks down their revenue stream on page 8. 5% of their revenue comes from Aux. Enterprise. Aux Enterprise is broken down on page 10. The Coliseum’s operating report highlights the operations of the Coliseum alone, but it doesn’t highlight other revenue streams attached to the Coliseum. So my fault for the assumption u read the report.

Also, I’ll like to attach another article & notice it says “Revenue Stream.”

https://www.bizjournals.com/losangeles/news/2018/02/07/l-a-coliseum-takes-off-with-renovation-new-revenue.html

So from your calculations how much is the revenue stream on a yearly basis, approximately.

 

[OriginalCanesCanesCanes]

Here’s my ?, b/c I don’t like the Cane on Cane (Dade vs. Broward) talk. At the end of the day, we’re all Canes fan & I know for sure The Univ dgaf about where we live, as long as we support.

W/ that being said, a lot of counter arguments I see have been of selfish nature, namely traffic & convenience. My ? is, & have always been what’s in the best interest of The University, financially.

I’ve asked this ? several times & have yet to get a response, so I’ll ask it again: Do anyone know if we’re making a profit being lessors at HRS? Like do the school making $ off of parking, concessions, Club LIV, luxury seating, & if so, do anyone know if we’re in the black or red when it comes to how much we pay vs. revenue we generate?

I’m all about maximizing revenue & growth. I’m hardwired to think long term vs today. Im going to assume if our AD openly said it would be good if we had our own stadium, that wasn't some tongue & cheek statement. I’m pretty sure he knows the benefit, financially, of having ur own stadium as either an outright owner or operator, as opposed to being a tenant.

I always ask, what’s better, a home owner or renter? Sure a homeowner is responsible for more chit, but all that equity built up is far more important than throwing money down the drain & being at the mercy of ur property mgr/landlord.

You can try to break it down to a lease versus buy formula/calculation as long as the numbers you plug-in are based on good assumptions. You’d be a surprised how often when you do a lease versus buy you end up with a higher net present value for leasing.

 

[Rellyrell]

So from your calculations how much is the revenue stream on a yearly basis, approximately.

Well, per their report:

The operating expense for the LAC in 2020 was $48.7m in 2020 & $42.2m in 2019. Per their Auxiliary Enterprise Revenue totaled $250m in 2020, & $373m in 2019. That figure includes their student village (which is their merchandise store & Athletics which includes The Coliseum).

So let’s assume that 60% of that $250m came from sales (it don’t, but I’m trying to be as generous as possible), that would leave a revenue stream of $100m from USC athletics which includes their Nike contract + tickets, parking, naming rights, and events thrown at LAC &/or LA Sports Arena. That’s a tough Profit of $46m on the low side (taking away Nike money).

 

[Rellyrell]

You can try to break it down to a lease versus buy formula/calculation as long as the numbers you plug-in are based on good assumptions. You’d be a surprised how often when you do a lease versus buy you end up with a higher net present value for leasing.

But a lease doesn’t take into consideration appreciation of the equity earned in my house. Nor does it take in consideration that my home rate is set in stone unless I decide to refi vs changing from year to year & being subject to change based upon if I live in a rent control area or not. Way too many variables that r unaccounted for. It’s not a simple calculation.

 

[clarkyboy_21]

Not sure if anyone’s brought this up, but Southland Mall and the area immediately surrounding it could be interesting to look at. US1 and the turnpike right there, plus apparently there’s going to be a metro mover or something of that nature that goes right through that area in the near future. So there’ll be easy access to 2 major highways and public transportation won’t be an issue either. Plus you’re in the thick of some heavy Cane territory.

A family member of mine works for a firm that deals with local government, specifically with developments, zoning and all that stuff and looks over site plans for these things all the time. Said this could potentially be a solid spot, the retail floor space for the mall alone is a few thousand sq ft shy of 1 million according to Wikipedia.

Don’t claim to be an expert, but if my math is anywhere near accurate (could very well not be) than that entire space would easily surpass 30 acres of land. And if we’re being honest, Dadeland, the falls, dolphin, even the Florida Keys Outlet near exit 1 are all superior options compared to southland imo.

Just don’t know about this whole Tropical Park thing. Obviously Ruiz is a high roller and a man of ambition and action, just don’t know how realistic his plan is. Major kudos to him for everything he’s doing tho, hope he’s successful!

 

[TheOriginalCane]

View attachment 177364
Not sure if anyone’s brought this up, but Southland Mall and the area immediately surrounding it could be interesting to look at. US1 and the turnpike right there, plus apparently there’s going to be a metro mover or something of that nature that goes right through that area in the near future. So there’ll be easy access to 2 major highways and public transportation won’t be an issue either. Plus you’re in the thick of some heavy Cane territory.

A family member of mine works for a firm that deals with local government, specifically with developments, zoning and all that stuff and looks over site plans for these things all the time. Said this could potentially be a solid spot, the retail floor space for the mall alone is a few thousand sq ft shy of 1 million according to Wikipedia.

Don’t claim to be an expert, but if my math is anywhere near accurate (could very well not be) than that entire space would easily surpass 30 acres of land. And if we’re being honest, Dadeland, the falls, dolphin, even the Florida Keys Outlet near exit 1 are all superior options compared to southland imo.

Just don’t know about this whole Tropical Park thing. Obviously Ruiz is a high roller and a man of ambition and action, just don’t know how realistic his plan is. Major kudos to him for everything he’s doing tho, hope he’s successful!

Careful, all the Maudes from Broward and Palm Beach are going to ban you.

 

[clarkyboy_21]

Careful, all the Maudes from Broward and Palm Beach are going to ban you.

Lol for sure. I understand that people like how the Rock is in a better location for the folks in the upper 2/3 of the tri-county.

I also understand that if we start winning and winning big like we know we can under Mario, people will be lining up to grab a seat for the game from here to Timbuktu.

Winning and putting out an exciting and well-coached/prepared product on Saturdays solves everything. The extra miles will be an afterthought to those people then.

 

[TheOriginalCane]

Lol for sure. I understand that people like how the Rock is in a better location for the folks in the upper 2/3 of the tri-county.

I also understand that if we start winning and winning big like we know we can under Mario, people will be lining up to grab a seat for the game from here to Timbuktu.

Winning and putting out an exciting and well-coached/prepared product on Saturdays solves everything. The extra miles will be an afterthought to those people then.

NYSOM has suggested this location for the stadium:

 

[Empirical Cane]

'Not Up For Sale': Miami-Dade Mayor Nixes Idea Tropical Park Could Be Used For Canes Stadium

The group looking to build a stadium for the Hurricanes football team is apparently now looking at public land.

miami.cbslocal.com

“Any change to a park would have to be approved by a majority of voters and Tropical Park is not up for sale.”



As with all politicians, positions can evolve on any matter with the right education on the matter via campaign contributions.

 

[TheEye]

But a lease doesn’t take into consideration appreciation of the equity earned in my house. Nor does it take in consideration that my home rate is set in stone unless I decide to refi vs changing from year to year & being subject to change based upon if I live in a rent control area or not. Way too many variables that r unaccounted for. It’s not a simple calculation.

However, for a stadium, you wouldn’t be looking to sell. In the event that you do, you would just profit off the selling of the land minus the cost the buyer would spend to knock it down.


I would imagine the cost to purchase land and build a stadium would far exceed renting it for well over a decade, possibly more. Plus the maintenance expenses would take that into the multi decade range.

This is offset if someone simply donates the stadium, but I would assume Miami would still be “renting” to offset maint fee.

 

[AlexCane]

Let me throw something out as opposed to starting the 80th thread on stadiums.

With NCAA becoming a financial arms race, we need to keep up financially because $ will only play a greater and greater part in college athletics.

If we were to own a stadium and retain the bulk of related revenue as opposed to sharing with Hard Rock, would that provide Miami with the financial ability to continue to keep up with the growing landscape? Should that be a consideration?

 

[JD08]

Careful, all the Maudes from Broward and Palm Beach are going to ban you.

No, we'll be replaced by maudes from the Keys.

 

[TheOriginalCane]

Let me throw something out as opposed to starting the 80th thread on stadiums.

With NCAA becoming a financial arms race, we need to keep up financially because $ will only play a greater and greater part in college athletics.

If we were to own a stadium and retain the bulk of related revenue as opposed to sharing with Hard Rock, would that provide Miami with the financial ability to continue to keep up with the growing landscape? Should that be a consideration?

It's an interesting question. I would point out one important distinction.

On the "facilities" side, the building and/or renovation of an on-campus stadium is usually accomplished with fund-raising for CAPITAL expenditures.

On the "operating" side, the maintenance and upkeep of an on-campus stadium is usually funded with budgeted OPERATING funds.

Therefore, over the long-run, an on-campus statium or arena is CAPABLE of generating apparent profits, because the university never "pays back" the donors who provided the original money for construction/renovation, as you or I would ordinarily do (in real life) if a bank financed our purchase of commercial or residential rental property.

Short answer is that, yes, if we were able to fund-raise for a stadium (not on-campus, unless we expanded our campus considerably) and we were able to retain the lion's share of the revenues, then, yes, we could certainly "make money" in order to keep up with the growing landscape.

 

[TheOriginalCane]

No, we'll be replaced by maudes from the Keys.

Interesting. Glad to see that Andrew and DMoney would follow the geographic trends...

 

[rsa coral gables]

'Not Up For Sale': Miami-Dade Mayor Nixes Idea Tropical Park Could Be Used For Canes Stadium

The group looking to build a stadium for the Hurricanes football team is apparently now looking at public land.

miami.cbslocal.com

“Any change to a park would have to be approved by a majority of voters and Tropical Park is not up for sale.”

As with all politicians, positions can evolve on any matter with the right education on the matter via campaign contributions.

I can tell you with THIS mayor the Tropical Park idea is dead. As it should be.

 

[pacusmc]

is tropical park busy?
It can’t be anywhere as busy as oleta, markham, or Emilia. If you try to build something in any of those parks you would get immediate pushback and it would get tossed out by any of those city councils in 2 minutes.

Don’t live in Miami any more but the few times I’ve been there over the last few years that pace has been pretty empty. The weekends are decent cause of the pavilion rentals.
I got recruited from the offices close to the park and know that swat trains there sometimes and so do some of the other departments.

How busy is it really for those that love or go there frequently?

The horse stables?
Do they still have boxing there?
The tennis courts?
The baseball fields ?
The lakes?

If the community is really going to be hurt by losing some or all of the park then yeah that’s not cool at all.

But if barely anyone uses it then the community might actually benefit from it if other things beside a stadium are built. There may also be a way to salvage some of those park amenities in the plan than we don’t know about. It’s a huge chunk of land.

 

[OriginalCanesCanesCanes]

But a lease doesn’t take into consideration appreciation of the equity earned in my house. Nor does it take in consideration that my home rate is set in stone unless I decide to refi vs changing from year to year & being subject to change based upon if I live in a rent control area or not. Way too many variables that r unaccounted for. It’s not a simple calculation.

NPV calculations can include asset appreciation. Correct/accurate assumptions are the key.

I will have to review what you’ve posited in your other post, I get the feeling that the revenue stream isn’t that high.

 

[OriginalCanesCanesCanes]

is tropical park busy?
It can’t be anywhere as busy as oleta, markham, or Emilia. If you try to build something in any of those parks you would get immediate pushback and it would get tossed out by any of those city councils in 2 minutes.

Don’t live in Miami any more but the few times I’ve been there over the last few years that pace has been pretty empty. The weekends are decent cause of the pavilion rentals.
I got recruited from the offices close to the park and know that swat trains there sometimes and so do some of the other departments.

How busy is it really for those that love or go there frequently?

The horse stables?
Do they still have boxing there?
The tennis courts?
The baseball fields ?
The lakes?

If the community is really going to be hurt by losing some or all of the park then yeah that’s not cool at all.

But if barely anyone uses it then the community might actually benefit from it if other things beside a stadium are built. There may also be a way to salvage some of those park amenities in the plan than we don’t know about. It’s a huge chunk of land.

The whole tropical park idea had a big bucket of cold water poured on it. It sounds like it might come down to a vote. If it does that’s not good news.