Cresa Inks Public-Private Royal Caribbean-FIU Deal

MIAMI—It's a public-private partnership deal three years in the making. Florida International University and Royal Caribbean Cruises have inked a deal to build a new rehearsal facility for shipboard performers on its Biscayne Bay campus.

The 130,000-square-foot, $20 million facility is breaking ground this week and is expected to open its doors in January 2015. With the facility on site, FIU students can tap into opportunities for training and internships in the hospitality and cruise industries.

Alan Kleber, the managing principal at Cresa South Florida who represented Royal Caribbean in the commercial real estate transaction, tells GlobeSt.com it's the most unique deal he's been involved with in his 20-year career. He called it a cutting-edge
partnership between Royal Caribbean and FIU that serves as a model for public-private partnerships in the educational realm.

“Royal Caribbean and FIU are among the pioneers of a new trend that is witnessing higher education and large corporations tap into synergies that drive exponential benefits for students, faculty, industry—and even the surrounding community,” Kleber says. “The agreement provides Royal Caribbean with the infrastructure necessary to support the growth of its fleet and it's evolving entertainment offerings while FIU students benefit from unique educational opportunities the cruise line is bringing on campus. It's a true partnership."

The building will contain two three-story high studios outfitted with state-of-the-art rigging systems. One will feature a Chicago Flyhouse system, while the other will have a Flying by Foy system. Also included are 10 additional rehearsal studios, a 300-seat black box theater and 20,000 square feet dedicated to costume creation and storage.

The partnership will open opportunities for students and faculty in the College of Architecture and the Arts and the Chaplin School of Hospitality and Tourism Management. Royal Caribbean is making available 20 internships, and access to the unique training facility, data and other proprietary information to be used for research purposes. Royal Caribbean performers will live in existing student housing, making it possible for FIU to build new housing for students. New student housing will also open in 2015.