cdc miami

Continuum Development Corporation /// Concept Book //

A New Way to Stay //

/// Continuum Development Corporation LLC

Scott Bednaz is a commercial broker and developer with 19 years experience in North and South Carolina. As President of TerraCorp Commercial properties and Tallus Development group Mr. Bednaz has negotiated the purchase, sale, or lease of 1 million square feet of commercial space, 3,500 acres of land resulting in $100 million in completed transactions. In 2005 he branched out from representation to develop his own projects including Advanced Auto, Hooters Burlington, The Estates at Barton’s Creek, and the Straw Valley Project. His projects have been recognized by multiple news and architectural outlets and received awards from the NC and Durham Preservation Societies.

Isaac Brown has been Director of Emerging Markets for Choice HotelsInternational for the past 9 years and has worked with Marriott developing over 60 properties. Prior to his cur-rent position, he was Architectural Designer, where he was responsible for prototype design for all Choice brands, and design reviews which

Mr. Brown will be

these brands. In addition he has been responsible for almost a half a billion dollars worth of revenue during his tenure working in development at Choice International.leaving Choice durring 2013 in his full-time capacity, and is currently in the early stages of developing four other properties where he is majority principal in the project. Mr. Brownhas a masters degree in architecture from Louisiana State Universityand a MBA from New York University. Mr. Brown is a New York City native and will lead the development team for the project.

Cedric H Watkins is a technologist and founder of a technology compa-ny providing solutions for the hospi-tality industry, Adjacent Innovations. Mr. Watkins is a seasoned business development and marketing execu-tive who has founded marketing and technology companies and has done development projects in Raleigh and Newark, New Jersey.

After attending UNC-Chapel Hill where he studied Management andSociology, Mr. Watkins has lived in Manhattan and Miami for the last12 years where he has developed a

real estate, hospitality, design, tech-nology, and entertainment. Mr.Watkins will be project coordinator, lead business development, andserve as technology and guest expe-rience architect.

Jordan Trachtenberg Assoc. AIA, LEED AP has practiced architecture

-nents ranging from Asia to South America. During 2009-2012 in Am-sterdam, NL, while practicing under Ben van Berkel at UNStudio, Jordan led the design and execution as Coordinating Architect /Project Man-ager on several successful projects such as the Singapore University

-ish completion in 2014. In addition, Jordan led the design on successful competitions, small built projects, in-terior, and industrial design solutions, such as the Library + Center for New

-ship store in Rome, Italy and the 29th Annual Art Biennale’s Youturn Pavil-ion in Sao Paulo, Brazil.

Jordan received the degree Master of Architecture, with Honors in De-sign, from Columbia University, NY, and holds a Bachelor of Design in Architecture, with Honors, from Flori-da International University, Miami.

Michael Sims, Jr. is an architectural design professional now living and working in Europe. He has over 10 years professional experience in

-combe), Coop-Himmelblau (Wolf-gang Prix), Frank Gehry Associates, SOM (NY), UN Studio (Ben van Berkel), and co-taught workshops with Lebbeus Woods.

As a proponent of BIM and paramet-ric design processes, Mr. Sims has

projects including Manhattan’s tallest residential tower, Frank Gehry’s new 8 Spruce Street tower, the King of Morocco’s current theatre project, and the UN Studio in Amsterdam. He earned his Masters of Architec-ture from SCI-ARC, and a Bachelor of Architecture from the University of North Carolina at Charlotte. Mr. Sims has taught digital design at AIU (American Intercontinental Univer-sity) in Los Angeles, and was an SOM instructor in an applied studies research collaboration with SCI-Arc, investigating concepts related to responsive kinetic façades. He is now with Zaha Hadid Architects in London.

Team /// /// Continuum Development Corporation LLC

Team /// Jordan Trachtenberg // Architecture Projects Sample Work

www.jordantrachtenberg.com

Pavilion / Sao Paulo, Brazil University / NYC, New York University / NYC, New York

Hotel / Philidelphia, PA Library / Ghent, Belgium

Library / Ghent, Belgium

University / Singapore

University / Singapore Performing Art Center / S. Korea Performing Art Center / S. Korea

Office Park / South Korea

Pavilion / Sao Paulo, Brazil


Team /// Michael Sims /// Architecture Projects

Residental Tower / NYC, NY

Residental Tower / NYC, NY

Mixed Use / ChinaTower / Abu Dabi

Tower / Abu DabiSympony Center / Miami, Florida

Theater / Moroco

Sympony Center

Sympony Center

Commercial Tower / NYC, NY

Commercial Tower / NYC, NY

Sample Work /// Continuum Development Corporation LLC

Light House ///

A New Way to Stay // Concept Design Book


The Concept /// Past + Present + Future

With its rich cultural history and well deserved reputation for some of the best weather in the world and establishing the idea of “living the life of luxury”, Mi-ami is undoubtedly a world-class city, yet it is lacking in one area. With such a legacy, the current version of the luxury experience with thousand dollar bottles at packed clubs, celebrity dj’s, and laser light shows are not doing this legacy justice. In a city like Miami where money does not ensure access, the true defini-tion of luxury must include access to the best of the life of luxury, which includes service, entertainment and socializing with like natured individuals.

Experiencing luxury in the manner and style in which you desire is the para-mount of living the life of luxury. The manner, frequency, and consistency in which the Lighthouse lifestyle of luxury will provide this paramount experi-ence to our guests and residents creates a lifestyle and residential environment unique and incomparable to anywhere in the world. Living in the state of luxury requires not only access, but also convenience. Having access to the best of the life of luxury is the current standard for experiencing luxury. Having those things brought to your doorstep is “living in the state of luxury”, which is life at The Lighthouse.

With Miami being one of the hottest travel destinations and condo markets in the world and the hotel market being one of the few markets experiencing in-creased tourism and higher rates for both occupancy and average daily rates, the opportunity to leverage both of these facts and capitalizing on Miami’s current lack of quality live music and entertainment makes this opportunity unique and one-of-a-kind. The Lighthouse brings together the culture of The City and ap-preciation for creation, music, and performance with the Miami lifestyle of luxury and celebrity, and infused with the universal spirit of the true appreciation of “the party scene”. This unique combination will make The Lighthouse a true destina-tion experience for the few fortunate enough to experience it during their stay or for the truly fortunate who call it home.



The Lighthouse Residences are an ultra-luxury condo and hotel with a private social club, rooftop pool and bar, world-class restaurant and spa, and performance lounge space. The Lighthouse experience will become the new beacon for what luxury living and accommodations are judged, yet globally incompara-ble due to the unique attributes of location, quality of facilities, and the world-class environment for en-tertainment which draws world-class talent, residents, and guests which creates world-class experiences and memories. The Lighthouse will be a cultural, architectural, technological, and ecological beacon for Miami. Bringing together the best of the old, using a bit of the current, and bringing them together to create a true desti-nation experience where the of the experiences of “the life of luxury” are alive, vibrant and being created every day.

“Old fashion service is the most pleasent luxury.” - Andre Balasz


Design Model / /


Design Strategies ///

Vertical Landscape - Minimum Site Coverage - Iconic

Urban Social Landscape - Max Site Coverage

Vertical to LateralOur design philosophy is flexible in its concept. Depending on each site in context we adapt the design model to both vertical and horizontal typologies. This promotes a true understanding of our site, its surroundings, and how to best integrate the design model.


Organization /// Event as an Integrated Concept

EventSpace

Auditorium

Restaurant

Pool + Deck

EventSpace

Bed

Bath

EventSpace

Eventspace

Bath

Bath

Bed

Bed

Lounge

Back o�ces

Stage

Logistics

Kitchen

Lounge +Bar

Parking

Lounge

Lounge

Relations

publicprimary

secondary

tertiary

semi-public

not publicDouble Quarters

Loft Quarters

Single Quarters

21

EventSpace

Auditorium

Restaurant

Pool + Deck

EventSpace

Bed

Bath

EventSpace

Eventspace

Bath

Bath

Bed

Bed

Lounge

Back o�ces

Stage

Logistics

Kitchen

Lounge +Bar

Parking

Lounge

Lounge

Relations

publicprimary

secondary

tertiary

semi-public

not publicDouble Quarters

Loft Quarters

Single Quarters

21

The Event Space becomes the central nucleus to the program. All spaces are in-terwoven and interdependent .The circula-tion around the event spaces are a direct connection between the different clusters. The secondary route,Within each cluster, leads each visitor through the experience.

The functional diagram shows the various user levels magnified to best visualize and represent each relationship. It fulfills the event space as a crucial link, as well as an element that binds together the differ-ent spaces of the hotel.The relationship between the Event Spac-es and the surrounding clusters, creates various degrees of public / dynamic (cen-tral event space, Lounges, Restaurants) to private / introvert (quiet lounges, Quar-ters.)

The shared Lounge/event spaces in turn form the internal link between the clusters of Quarters, and provide a smooth transi-tion through the main event spaces. This seamless interweaving of function and circulation also creates various spatial experiences of open spaces, to intimate enclosed areas, and excites the visitors to discover and participate in the new way to stay.


Design Strategy / /


Organization /// Example // Plymouth Hotel + Ansonia

The Plymouth Hotel as context; erties where our design ory and relationships

of 1940’s Miami Beach Art Deco to most recently housing the New World Symphony student body will play an integral role in our event, marketing and branding. Preserved Historical the Plymouth hotel is an icon of Miami Beach. With proper direction the hotel will become a destination. Linking Miami Beach to the sub culture and event spaces it desires.

Current Situation | Preserved Historical the Plymouth hotel is a Icon of Mi-ami Beach. With proper direction the hotel will become a desitation. Linking Miami Beach to the sub culture and event spaces it desires.

Current Situation | Parralel sites that are less desierable are being broken down to the bare walls and recreated into moder hotels. Our objective is to go beyond our neighbors stting a new bar for the area.

Plymouth example

Plymouth Ansonia

roof terraceQuarters and lounge

Quarters

Event SpaceLoungePool and deck Lobby

extending Event Space throughout


Organization /// Vertical Landscape // Site Context

Parking

150 Condo

150 Hotel

RestaurantCommercial Lobby

Event

EventBar/Social

The Design philosophy applied to this site in Edgewater, centrally located between Mid-Town, South Beach and Downtown offers an ideal proximity to tap into the optimal demo-graphic applying a mixed use programmatic approach amplifies the ability to tap into mul-tiple revenue streams.


Roof Terrace


Tr iangle House ///

A New Way to Stay // Concept Design Book



The Triangle House Resort & Spa is a luxury, full service “inner-suburban” resort and conference center, with an emphasis on world-class facilities and service made comfortable with some south-ern hospitality. The project is an architectural, technological, and ecological showpiece for the “New North Carolina” which is building its reputation from the RDU/Triangle area, based of world-class universities, research and industry, mild seasonal weather, and a quality of life paralleled by very few places in the country.

The Triangle House Resort & Spa will have a focus on hosting small to medium sized university and corporate meetings and conferences. We will capitalize on the triangle’s geography and ex-istent conference business and area attractions by providing the areas only world-class banquet and meeting spaces with conference focused facilities and guest-facing technologies. The Tri-angle House will continue the areas rich traditions of producing and showcasing world-class and local talent in the event lounge space.

The hotel will tell this rich history through art, and help create new chapters with Artist-in- residen-cy programs and providing a venue for the creation and expression for the wealth of talent in our area.

The areas legendary universities and athletic programs will be steady drivers of business, includ-ing conferences, graduations, game-days, and other events. Banquet facilities, performance lounge, spa, retail and bar will also bring steady visibility, traffic, and revenue. The hotel will of-fer memberships to the private social club, which provides access to the wine bar and rooftop lounge, fitness facilities, preferential considerations for restaurant reservations, event tickets, facili-ties access, and discounts on hotel rooms.

Designed by world-class architects and expertly appointed, Triangle House blends world-class hospitality with a collection of exquisite condominium residences located in the heart of the RTP area. Residents will enjoy access to Triangle House’s superlative services and offerings in addi-tion to an array of enviable building amenities. The Residences at Triangle House represents the ultimate in



The property will be a hospitable and conducive environment for gathering, celebrating, work-ing, creating, and relaxation, with a staff that exudes sincere hospitality and professionalism, without the stuffiness.

The property will carry a mystique and demand reminiscent of what the Morgan Hotels had when they first opened. Where people wanted to stay there because it was the place to be in that area, where you experienced the newest trends, and you never know who would also be-ing staying there. With a spa, pool, fantastic restaurants, rooftop and lobby bars, and the hot-test club and live music venue in the area, a guest has no reason to leave the property. We will create this experience, and enable the guests to take some of the it with them, with our “Take it with You” program, which allows the guests to purchase anything they experienced at the hotel (bed, sheets, furniture, TV, food, art, etc).

Additional property amenities will include a library to access and showcase research and the pursuit of knowledge. A place for people to study, work, and research, utilizing mobile kiosks linked to university libraries, with printing, creation, and business center facilities available.


Design Model / /


Organization /// Design Model //

INPUT | Basic Program 100 units50 Single30 Doubble10 Suites6 Condos 2500 SQ feet of Event Space

01 Program 02 Placement 03 Design model 04 Site Specific adapta-tion

SIte Placement and Typical Organization- Maintains program requirements - Approach does not promote program intergration

Adaptable Model | Pulling of floor plates- Pulling out frees up internal space for events- Creates a central organizational atrium - Maintains program requirements while promoting program integration- Landscape connectivity from inside out

Site Specific | Straw valleyApplying to the Site and making small adjustments adapts the Design model to its most ideal site to shape relationship.


Organization /// Site Model //

UNC/Duke/DPAC - 6mi.Research Triangle Park - 11 miRDU Airport - 16 mi.Raleigh/NC State/PNC Center - 20 mi.

Northwest View

North West

Exisitng Straw valley CafeProposed Triangle House Resort and Spa


Urban Context // Site Diagram

Straw Valley Site

40FWY

Marriott Suites

Hilton Homewood Suites

15 501

University ofNorth Carolina

Duke University Downtown DurhamDurham Performing Art Center

Research Triangle ParkRDU Airport


Principles /// Sketch // Atrium Space Ground Level/// Continuum Development Corporation LLC

Principles /// Sketch // Atrium Space Pool Level/// Continuum Development Corporation LLC

Principles /// Sketch // Landscape Connectivity/// Continuum Development Corporation LLC

Principles /// Sketch // Site and view/// Continuum Development Corporation LLC

Financials/// Total Project Cost $9.5MM for 80 hotel keys + $ 6MM to build 20 condos + $4MM for land

Number of Keys - 80 built at $180/sq. ft. = $9.5MM Cost per Key - $119KComp Value for completed project $300K per key = $24MM ($500k = $40MM)Land (amortized purchase 4-5 yrs.) $4MMConstruction cost $15.5MM Total (land +const.) = $20MM10 condo units with 1350 sq. ft. to be sold at $203/sq. ft. = per unit $2757K 10 condo units with 2000 sq. ft. to be sold at $200/sq. ft = per unit $400K Condo Sales - 20 units = $6.75MM80 Hotel Rooms with an average room size of 600 sq. ft. 48000 Sq. ft of hotel space built for $ 180 sq. ft = $8.64MM33500 sq. ft of condo space built for $180 sq. ft = $6MM5000 sq. ft of event and gathering space built for $130 sq. ft = $650K

Median Home price in RTP is $343KPrice per sq. ft Durham - $92 Chapel Hill - $220 Cary - $118

Revenue StreamsHotel: 80 rooms with a 60% occupancy rate has 17520 paid room nights with a ADR of $250 gen-erates $4.3M/yr in revenues which is $358K/mo Banquet - $1MM/yr. Bars/Rest./Clubs - $1.5MM

Hotel will be worth $30MM with a $15MM mortgage which is a 50% LTVCondo owners can put their units into the hotel rental program when vacant and earn ROI, which makes attractive to parents of students at local universities and foreign investors.

Located on five acres and one of the busiest intersections in thestate, 15-501 (100K VPD) and I-40 (20K VPD)Convenient to and offering shuttle service to major area destinations

UNC/Duke/DPAC - 6mi.Research Triangle Park - 11 miRDU Airport - 16 mi.Raleigh/NC State/PNC Center - 20 mi.

- University community provides for constant stream of business ofconferences, events, banquest, and area visitation- Luxury market historicly has higher occupancy rates than statewide ADR of 61%- World-class amenities, including spa, restaurant, rooftop lounge,pool, and private social club coupled with event, banquet, retail, and performance space will be incomparable to all other properties in the area, making it adistinctive destination attraction


Contexual References / /


Program Typologies /// Example aesthetics

Quarters //

Event Spaces //

Common Spaces//


Referenced /// /// Continuum Development Corporation LLC

Details /// Technology + Space + FunctionalityEach square foot is thought about in detail. How to maximize interactivity, comfort and usability


Details /// Finishes, Materials, Texture, LightingCrisp and simple details will allow the design to maintain a cost effective background and elegant foreground. // Crisp, sharp, elegant, defining,


Financials / /


Project Financials

http://min.us/lbwQ3Bc29yj http://www.nwstours.com/tours/Harrison-Hotel/Harrison- http://db.tt/6kPxdoQF

Plaza Meridian-‐ MB Harrison -‐ MB Triangle House -‐ NCAcquisition Cost $5.5MM $12MM $4MM (land)

Renov./Const. Cost $7MM $8MM $16MM (new const.)

# of Rooms 30 50 80

# of Condos 8 20 20

Price per key $315,789 $371,428 $119,000Occupancy Rate a- actual p- projected 80% (p) 71% (a) 80% (p) 61% State Avg 70% (p)

ADR $300 (p) $210 (a) $300 (p) $225 (p)

Buildable sq. ft. 27,000 (30,000 new) 40,000 86,500

Cap Rate 9% 7% 8.50%

RRM 4.4 4.3 3.45Net Cash after Debt Service (monthly) $200,000 $300,000 $380,000 Total Project Cost $12 MM $26 MM $20 MM

Net Room Revenues $2,628,000 ($219k/mo) $4.3MM ($358k/mo.) $4.6MM ($383k/mo.)Other Revenues (Restaurant, Bar, Clubs) $500,000 ($41k/mo.) $600K ($50k/mo.) $500k ($41k/mo.)Total Gross Revenues $3,128,000 ($260K/mo.) $4.9MM ($408k/mo.) $5.1 MM ($425k/mo.)

Revenue from Condo Sales $9.8MM (14k sq. ft. @$700/sq. ft.)$24MM (30k ft. @ $800/ sq. ft.)

$6.75MM (35k ft. @ $203/sq. ft.)

Net Operating Income $919,800 (35%) $1.53MM (35%) $1.6 MM (35%)Financing

Owner50% for 5 yrs @ 8% = $2.7MM loan = $45K/mo.

50% for 15 yrs @ 6% = $8.5MM = $47k/mo.

$2MM in land equity possessed ($1MM additional required)

Equity 25% for $2.5MM 30% for $10MM 30% for $6MM

Debt$7MM for 30 yrs @ 6% = $7.42MM = $20K/mo.

$8MM @ 5% = $8.4 for 30 yrs = $24k/mo.

Total Mo. Debt Service $65,000 $47,000 $24,000 LTV 53% 48% 47%Note Payoff Remaining after Condo Sales <$2MM <$2MM $7MMNet Sales Proceeds from Exit ($400K/key) $12MM $16MM $32MM

$ IR (equity stake ) $2.5MM (25%) $4.6MM (30%) $8.3MM (30%)IRR 100% 46% 138%


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