speed learning: millennium park 10 years later: a case ... · • connected to 18 miles of lake...
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Speed Learning:
Millennium Park 10 Years Later:
A Case Study on the Value of Public-Private Investment
Richard A. Hanson
Principal
Mesa Development LLC
Curt Bailey
President
Related Midwest
Cassandra Francis, Moderator
Principal
Kariatid, Inc.
November 11, 2013
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Cloudgate
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Crown Fountain
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Lurie Garden
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Lurie Garden
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GREEN SPACE
• 24.5 acres, the world’s largest green
roof.
• Green landscaped space-528,740
square feet.
• The park is truly a green oasis in a big
city.
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SAFETY
• January to June, 2010:
• Total Violent Crimes: 15
• Total Property Crimes: 140, total 155.
• Total property crimes all Chicago in 2009: 78,444 (.2%)
• The park is very safe.
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TRANSPORTATION
• Elevated tracks carry the Green, Orange, Brown,
Purple and Pink lines.
• There are 13 bus lines with 11 different stops.
• The Metra Commuter line with two stops and the
South Shore Line with one stop.
• There are 8,000 underground parking spots
• The park is very convenient to all users.
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EXHIBITS/EVENTS
• 525 events in 2009.
• Family Fun Festival all summer sponsored by Target.
• Grant Park Musical Festival - 30 free concerts.
• Guided tours – 100+ offered in five languages.
• Morning workouts, Yoga and Pilates.
• 14 art exhibits lasting 6 months to 18 months each.
• The park is a busy place.
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WALKS and TRAILS
• 450,471 square feet of hard surface.
• Includes 15,225 linear feet of walkways.
• Connected to 18 miles of lake front bike paths.
• McDonald’s cycling facility provides 300 bike parking
spots and has 250 rental bikes.
• Also has 300 lockers and the 200 memberships sold out
in the first two weeks.
• The park is a healthy place.
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NUMBER OF VISITORS
• 5,000,000 projected for 2013.
• The park attracts a lot of people.
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RESIDENTIAL GROWTH
• Since the Park opened 4,800 new condos and
apartments built, an increase of 71% dwelling units.
• The total Loop population grew from 7,056 to 20,280,
an increase of 187% .
• The Chicago Central Area grew from 111,742 to
185,844, a 66% increase.
• The park created a neighborhood.
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TOURISM
• In 2010 there were 39.2 million domestic and overseas
visitors in Chicago:
• 28.0 domestic leisure,
• 10.1 domestic business, and
• 1.1 million foreign.
• Tourists spent $11.1 billion dollars.
• Jobs created: 124,000 jobs.
• The park is vital to the city economy.
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COST
• Total cost $490 million.
• City: $270 million
• $175 million of construction bonds paid off
through sale of the underground parking
• $95 million was TIF dollars.
• Private Sources: $220 million
• $160 million was from 105 individuals,
foundations and corporations
• $60 million was from a separate campaign for
Harris Theater.
• The park is not the burden that many say it is.
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The Legacy and The Heritage
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The Legacy from Pritzker Pavilion
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The Legacy from Buckingham Fountain