STADIUM BIDS. 3 Firms Identified
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#168154
(In Topic #30102)
Wise Owl
Member since 2003
By Ted Hutton
Staff Writer
Posted September 15 2005
Boca Raton ? A 40,000-seat domed stadium ringed by a $130 million cancer research center, two hotels and multiple dormitories that would house nearly 2,500 students was among three bids from companies interested in developing an athletic village at Florida Atlantic University.
FAU sought the bids as part of its effort to get a domed stadium built on campus for its football and basketball teams, as well as a place for other campus events, such as commencements.
FAU is also considering raising the money for construction of the stadium on its own.
The Athletic Innovation Village plan calls for private developers to pay for construction and operate the stadium, dormitories and retail space, and then recoup the cost through leases, rents and parking fees.
"The advantage to this option is that it enables you to build faster and get where you want to go quicker," FAU President Frank Brogan said.
Brogan said he had not had time to give the bids more than a cursory look.
"I was pleased that the general idea was adhered to," Brogan said, noting the bids were supposed to include the stadium and student housing.
The bid submitted by Global Development Partners included the centerpiece stadium and added 2 million square feet of student housing along with retail, medical and office space, two hotels and 7,318 parking spaces, including a 5,250-space parking garage.
The bid included a museum dedicated to the Boca Raton Army Airfield to recognize what was on the site before FAU was established.
GDP said it had a commitment for a 100,000-square-foot cancer research center and said that would be an anchor for other medical uses and allow "rapid financing of the commercial real estate component."
GDP estimated the cost of the domed stadium at $107 million, with $130 million for the cancer center, but did not detail costs of the other parts of the development.
The other two bids were less detailed.
Innovation Development Partners estimated the cost of the stadium at $117 million, and the cost of 694 housing units with 1,486 beds for students at $53 million.
IDP also said FAU should explore getting an indoor soccer or arena football team to use the stadium to generate more income.
A proposal by another firm, KUD, had an estimated cost of $145 million but did not include specifics beyond the stadium.
KUD states in its bid it will work with FAU and the city of Boca Raton to evaluate potential commercial business that may use the site.
Boca Raton is keeping close tabs on FAU's plans. The city has no legal control over the state institution. But school and city officials hashed out a financial agreement five years ago to address campus development. FAU agreed to pay the city to offset impacts on roads or services that expansion brings.
The city put together a two-page analysis on the request for bids on the Athletic Innovation Village.
"The city expects to have the university work cooperatively with us to ensure that any project's impact can be adequately handled," said Boca Raton Mayor Steven Abrams.
The city is aware that FAU wants to put up a stadium, dorms and retail, but the proposed hotel and cancer center are something new, he said, adding that city officials have to understand the scope of the proposal.
The analysis said the stadium developer would need to renegotiate elements of the agreement, including a direct connection from Interstate 95 to the campus, the number of seats allowed and the number of tickets sold annually.
"The university still has to have discussions with the proposers to come up with a project that everyone can live with," Abrams said.
Brogan said he is forming a committee that will review the three bids and bring him recommendations.
"We have to see if any of these are reasonable and doable," Brogan said.
Brogan said there is a possibility FAU could take pieces from each bid and come up with a different proposal that could be viable.
Any proposal would have to be approved by Board of Regents.
"But we are still a long way from that," Brogan said.
Ted Hutton can be reached at [email protected].
Staff writer Luis F. Perez contributed to this report.
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Wise Owl
Member since 2004
STADIUM BIDS. 3 Firms Identified
2017 and 2019 Conference USA Champions
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Wise Owl
Member since 2003
STADIUM BIDS. 3 Firms Identified
My thoughts are all over the place with this one. I have seen instances where it's been done but on the professional scale. The Steelers and Pitt Panthers and the Bucs and USF come to mind. They share facilities which were built for that purpose. Community Investment Taxes are what it's called in Hillsborough County. The Glazers/Owners of the Bucs have authority over the stadium ALTHOUGH taxes were paid by the community for USF's usage.
FAU may eventually come to an agreement where they allow the developer to build with the understanding that FAU "rent" the place and have advertising rights as part of the package. FAU's previous sticking point of "event scheduling" may have to give ground sooner or later. In this case there are no NFL teams involved. But there are hotels,dorms and a research center. INCOME. I'm guessing that's why they threw it out to the public in the first place. I could be wrong.
Otherwise we need a very rich uncle who want to help out the school and fund this stadium. Like the Pitt Panthers and USF benefited from owners, Heinz and Glazers.
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Wise Owl
Member since 2004
STADIUM BIDS. 3 Firms Identified
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First Flight
Member since 2004
STADIUM BIDS. 3 Firms Identified
STADIUM BIDS. 3 Firms Identified
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Wise Owl
Member since 2003
STADIUM BIDS. 3 Firms Identified
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Wise Owl
Member since 2007
STADIUM BIDS. 3 Firms Identified
I haven'nt seen the FAU campus since the summer of 2000. I didn't have too much time to look at it. I only stopped by because I had an hour or so to kill before my flight.
The question is, how much land is available on the campus anymore? One of the posts said room was an issue for the Stadium. I know a lot of building has taken place since I graduated. Just curious how much of all that land is left. Is any land available adjacent to the university should more be needed.
FAU - THE REAL SLEEPING GIANT
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Wise Owl
Member since 2004
STADIUM BIDS. 3 Firms Identified
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VIP DONOR
Member since 2005
STADIUM BIDS. 3 Firms Identified
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Wise Owl
Member since 2007
STADIUM BIDS. 3 Firms Identified
FAU - THE REAL SLEEPING GIANT
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