South Beach ACE Lunges at Portman-CMC

MIAMI—Dueling plans for the redevelopment of the Miami Beach Convention Center and its 52-acre site reveal a series of significant differences as the competition between finalists South Beach ACE and Portman-CMC enters its final stretch. While the master plan concepts initially proposed by the two teams differed significantly, recent weeks have seen the main elements of Portman-CMC's plan shift more towards that of South Beach ACE.

Dan Tishman, the New York-based developer currently overseeing the reconstruction of the World Trade Center site and the renovation of the Jacob Javits Convention Center in Manhattan, once again says: “Imitation is the sincerest form of flattery.” South Beach ACE says its proposal still has a number of advantages in the areas of urban design, the creation of public spaces, financing, mobility, functionality, and efficiency.

“While Portman-CMC has borrowed many of our ideas—including preserving the Jackie Gleason Theater, reconfiguring 17th street, and locating their hotel atop the convention center—a close inspection reveals that South Beach ACE has the upper hand where it counts most, including the all-important gauge of public support,” says Tishman, whose firm is leading South Beach ACE alongside OMA, the international architecture firm led by Pritzker Prize winner Rem Koolhaas, and Miami Beach developer UIA.

The South Beach ACE proposes a renovated and reconfigured convention center set within an urban district that it says will attract major events from around the world, creates new economic impact, and integrates within South Beach's existing urban landscape. South Beach ACE says its plan's key advantages include:

Fully-integrated convention center and hotel: The South Beach ACE plan integrates the convention center and hotel—and their respective ballrooms and meeting room—within a single building. The firms ays this creates efficiency and caters to event planners and guests who welcome the convenience of grouping all functions under one roof. By contrast, Portman-CMC plans a separate ballroom building with a footprint totaling 100,000 square feet that will be disconnected from the hotel and convention center, exposing visitors to the elements and requiring duplicative functions such as loading docks and kitchens.

A responsible financing package: South Beach ACE proposes a private financing structure that includes a balanced ratio of 50.9% debt to 49.1% equity, with MetLife tentatively committed to joining the team as a partner. By contast, Portman-CMC is proposing a package that requires a higher ratio of debt, 61% to 39% equity, and has not yet announced an equity partner.

More green space for Miami Beach: South Beach ACE will create 28.6 acres of new green space accessible from street-level, which it says amounts to a 770% increase over the site's current condition and a 14% reduction in the amount of building footprint now in place. By contrast, the Portman-CMC plan increases the site's overall building footprint by 15%.

Appropriately-sized retail component: South Beach ACE plans approximately 60,000 square feet of retail development on the ground floor of the 17th Street garage and 40,000 square feet of standalone food and beverage space as part of its hotel program. Portman-CMC first proposed up to 350,000 square feet of retail and commercial space but has since revised that number to 185,000 square feet according to bank letters submitted as part of the team's letter of intent, plus an unknown amount of square footage distributed across retail kiosks.

More access, less traffic: South Beach ACE proposes reducing the convention center's length by nearly half, creating greater east-west pedestrian access through and around the site. The main entrance for the convention center and hotel will be oriented to the south, encouraging connectivity with Lincoln Road. Vehicle access will be organized by segregated by use, removing congestion from City streets.

A growing coalition of support: Among the most significant differences between both plans is the strong base of supporters in favor of South Beach ACE. The team has earned high-profile endorsements from convention center users, including meeting planners such as Morgan Stanley, Wellesley Information System, McGraw Hill Financial's Aviation Week, and the Miami International Boat Show's organizers. Additionally, the plan has been backed by many of Miami Beach's largest property owners, including Vornado Realty Trust, Fryd Properties and Gombinski Properties.