5 Blockbuster Developments
The recent ranking of cities with the most new construction got us thinking about some of the biggest headline-grabbing developments currently going up--or about to break ground--across the country. Here are five $1B (or so) projects in the works from New York to Miami.
Domino Sugar Refinery
Where: South side Williamsburg in Brooklyn
The developer: Two Trees
The price: $1.5B
Controversy: Locals surprisingly warmed to the dramatic, skyscraping design of this mixed-use development on the East River. But Two Trees hit a major snag when it came to the affordable housing component, ultimately relenting to the de Blasio administration's demands that it raise the number of affordable units.
The goal:Transform this stretch of post-industrial waterfront in much the same way Two Trees made the once-barren Dumbo neighborhood a luxury residential, commercial and tech tenant destination.
New Atlanta Stadium
Where: Atlanta
The developer: Georgia World Congress Center Authority will own the arena and land around it. Operation falls under home NFL team the Falcons.
The price: $1.2B
Due date: Just in time for the 2017 football season.
The design: Architect Bill Johnson of 360 Architecture says the striking, retractable pinwheel roof was inspired by Rome's Pantheon. The stadium will replace the indoor Georgia Dome.
The goal: Bring the Super Bowl back to Atlanta for the first time since 2000. And host the local MLS team in a partitioned 29,000-person venue.
Brickell City Centre
Where: Downtown Miami.
The developer: Swire Properties Inc
The price: $1B
Due date: The first phase of construction should be completed in late 2015.
The basics: The 9.1-acre mixed-use development will include a 263-room hotel, offices, two apartment towers and nearly 600K SF of retail and leisure space to be anchored by a 107K SF Saks.
The goal: Mirror the Design District's retail success and lure more luxury shoppers to downtown Miami from Bal Harbour Shops, which once nearly monopolized the area's designer shopping.
Comcast Innovation and Technology Center
Where: Philadelphia
The developers: Comcast and Liberty Property Trust
The price: $1.2B
Due date: Early 2018
Claim to fame: This will be the tallest American skyscraper outside of New York and Chicago.
Controversy: Some observers objected to the nearly $43M in state grants and other subsidies rewarded to the building.
MGM National Harbor
Where: In Maryland's Prince George County, just 10 miles away from Capitol Hill.
The developer: Global casino powerhouse MGM Resorts, which owns the Aria, Bellagio and MGM Grand on the Vegas strip in addition to holdings in Macau and Hainan Island.
The price: $925M
Due date: Mid-2016
The target demo: The casino will have 3,600 slot machines, but hopes to lure the flush DC lobbying crowd with 140 gaming tables and upscale restaurants.
The goal: As gambling booms in Delaware and West Virginia, DC-area politicos and developers are looking at the MGM project to see if a 2012 referendum that loosened gambling restrictions will pay big dividends.
