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South Beach, Galveston What’S Going On? Emerald by the Sea Condos Current View from Emerald Proposed 5 Story Buildings

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South Beach, Galveston What’S Going On? Emerald by the Sea Condos Current View from Emerald Proposed 5 Story Buildings *The Post of Galveston County, Front Page *Galveston Daily News, Front Page *Houston Chronicle, Front page *South Beach, Galveston What’s going on? Emerald by the Sea Condos Current view from Emerald Proposed 5 story buildings Private Davis Davis owner Davis Minor 20 story plan Private Davis Davis Davis Miner Property Viewer Poll, Channel 2 Houston, August 5 Second class beaches? * Seawall, in front of Mario’s Visitors sleeping over South Beach Boutique Hotels * Venice beach, Ca. --top 10 world South beach, FL -top 10 world Key West, FL South Beach, Galveston! * * No building over 3 stories high anywhere! * * * * * South Beach, Miami * Miami South Beh Beach 16 * We can build on our history! Old Galveston * Breaker Bathing Pavilion Galveston Seawall TODAY Miami South Beach TODAY -- Galveston TOMORROW? *Stewart Beach – Boardwalk, 2006 plan *Gateway – Visitor Center *Stewart Beach -2006 master plan planPlan Galveston Seawall TODAY Poretto Beach- in bankruptcy, for sale Miami South Beach TODAY -- Galveston TOMORROW? Galveston Seawall TODAY Unoccupied cars get front row view! Miami South Beach TODAY -- Galveston TOMORROW? *Galveston 1983 Seawall Development Plan * * * “We want to be a community that does not settle for anything mediocre” Land use:” preservation, protection, and restoration of natural resources”, Economic development: “extend to job creation, enhanced tourism, and an expanded property tax base” Natural resources; “ continue to improve the quality of beaches, improve beach access, and enhance beach amenities” * Galveston Seawall TODAY Miami South Beach TODAY -- Galveston TOMORROW? * UTMB Stewart Emerald East End Beach Neighborhood McDonalds Poretto San Jacinto Beach Neighborhood Mixed use, hi rise Mixed use, mid rise Nature park Mixed use, mid rise Galveston Seawall TODAY 12th St. to 11th St. vacant land Town Homes New City 4-6 Story Parking Deck Natural Park Condos/Hotel Retail / Condo Typical Land Use Plan Seawall at 12th Street Miami South Beach TODAY -- Galveston TOMORROW? Show me the money! * *Sales tax *Property Tax *Hotel Motel tax A rough estimate but contrast is obvious. Feasibility study will better detail PROPERTY TAX REVENUE PER YEAR PROJECTED “Build on the Beach alternative” Property tax $1.2 million Infrastructure cost recapture ($1.2 million) Loss in property tax from existing Seawall properties ($1 million) Net property tax LOSS to city, first 10 years ($1 million) Actually LOSE property tax revenue if build on Beach! PROPERTY TAX REVENUE PER YEAR PROJECTED World Class Beach Build north of seawall Property tax, North of Seawall $2 million Infrastructure cost since existing 0 Net property tax GAIN to city, first 10 years $2 million! HOTEL TAX REVENUE PER YEAR PROJECTED “Build on the Beach” Hotel Motel Tax $1 million HOTEL TAX REVENUE PER YEAR PROJECTED World Class Beach, Build north of seawall Hotel Motel Tax INCREASE $3 million All Island hotels benefit from World Class Beach SALES TAX REVENUE PER YEAR PROJECTED “Build on the Beach” Sales Tax from beach shops $100 thousand SALES TAX REVENUE PER YEAR PROJECTED World Class Beach, Build north of seawall Sales Tax $3 million! All Island retailers benefit from World Class Beach The Bottom Line! CITY REVENUE/YEAR Build on Sand = $100,000/yr World Class, South Beach $7 million/yr 8 $7 million! 7 6 5 4 Build on Beach 3 South Beach 2 1 $100,000 0 $ per year(millions) For example, a comparison of economic benefits per year Plan Hi rises on Beach South Beach, Galveston New Mid to high Rise 3 hotels or condos 4 mixed use Buildings developments (1) New Property Tax $1.2 million $2 million (2) Revenue Existing property tax -$1 million (3) $1 million revenue increase City Infrastructure costs -$1.2 million (4) 0 (5) per year, 5 years Hotel Motel tax $1 million (6) $3 million (7) Sales tax $.1 million (8) $1 million (9) Net revenue, first years $100,000 $ 7 million In summary: South Beach, Galveston will be a World Class Beach Park natural landscaped park beach amenities boardwalk beach recreation and activities Landscaped Seawall Boulevard, safe, pedestrian friendly Upscale Seawall development sidewalk cafes, Boutique hotels and retail enhance existing urban neighborhoods and developments A major attraction for Galveston Island and Houston Metro Area And significant city revenue boost! * 1. LDR: current zoning can remain unchanged 2. Master Plan beach/urban area. Park board/city/and citizens teamwork 3. Acquire private property on beach Financing: IDC, other sources, State , environmental non profits 4. Park improvements implemented Beach, Recreation, open space, landscaped, natural 5. Seawall Boulevard Landscaping & Enhancements 6. North of seawall Mixed Use Up scale development Infrastructure available Immediate property taxes Enhance value of adjacent property and neighborhoods What we need to do now! City Planning to outline scope of Feasibility Study *South Beach, Galveston! *Gateway – Visitor Center SOUTH BEACH, GALVESTON! A Proposal by citizens from East End, University Area Association, Fish Village, Emerald by the Sea, and San Jacinto Neighborhoods Contact: Ralph McMorris [email protected] 409 765 5666 Walter Preble [email protected] .
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