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Millennium Park at Ten Years

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Millennium Park at Ten Years Millennium Park At Ten Years Harris Theater-Hammond Beeby Rupert Ainge Architects Louise Nevelson-Lobby Art DHOOM 3 The Lurie Garden-GGN, Seattle, Landscape Architects Piet Oudolf-Horticultural Designer The Chicago Art Institute, Modern Wing-Renzo Piano, Paris, Architect THE NICHOLS BRIDGEWAY-Renzo Piano Jeff Koons-Rejected the Bunny, Goat and Monkey CLOUD GATE “THE BEAN”” By Anish Kapoor • DONOR FUNDED ELEMENTS • Base Park Improvements $5,400,000 • Gehry Trellis & Ribbons $31,900,000 • BP Pedestrian Bridge $14,500,000 • Chase Promenade $4,000,000 • Wrigley Square / Peristyle $5,000,000 • Lurie Garden $13,200,000 • Kapoor Sculpture/AT&T Plaza $26,000,000 • Crown Fountain $17,000,000 • Boeing Galleries $3,000,000 • Exelon Pavilions $6,000,000 • Sound System Enhancement $2,500,000 • Endowment commitment $25,000,000 • McCormick Tribune Ice Rink $3,200,000 • Harris Music and Dance Theatre $61,000,000 • Fixed Seating $490,000 • Demountable Fence $750,000 • Mid Level Terraces $600,000 • Graphics $200,000 • Furnishings $260,000 • Total $220,000,000 CITY FUNDED ELEMENTS • Garage $99,000,000 • Metra Crossover Structure $61,000,000 • Park Finishes/Landscaping $43,000,000 • Music Pavilion $25,500,000 • Design & management costs $40,000,000 • City portion of Exelon Pavilions $1,500,000 • Total $270,000,000 TOTAL PROJECT COST -$490,000,000 USD Mark di Suvero-Boeing Galleries-2007-2008 Chen Wenling and Sui Jianguo-2 of 4 Chinese Sculptors-Boeing Galleries 2009-2010 Chen and Sui, Artists, China Boeing Gallery Yvonne Domenge, Artist-Mexico 2011-2012 Jun Kaneko- Exhibition in the Boeing Galleries 2013 1004 Portraits – Jaume Plensa 2014-2015 The Economic Impact of Millennium Park Residential Units and Population: 10 condominium projects are attributing their success to the creation of Millennium Park 4,800 apartment and condo units have been added resulting in a 71% increase in residential population- 64% new construction and 36% adaptive reuse of office buildings $1.4 billion is the total value of residential real estate since the 2004 park opening $125 per square foot more is paid for condo units with a park view Adjacent Property Rents: 22.4% increase in rents since the park opened 94.1% occupancy rates higher than the rest of the city Hotel Development: 10 hotels have been added since the park opened 24% increase in adjacent hotel rooms 5 Million Annual Visitors this year should produce $1.4 Billion of Direct Sending and $78 Million in Tax Revenue Legacy The Legacy at Millennium Park The Heritage at Millennium Park Millennium Park Foundation “MPF” is the private support entity for the Park that has raised over $220 million for the construction and enhancements for the ongoing viability of the Park, and also supports: • The Lurie Garden • Curator of the Boeing Galleries • Custodian of proprietary agreements for the art and architecture elements, i.e., assuring protection of the use of the images of Cloud Gate and the visual programming of the Crown Fountain, Jay Pritzker Pavilion, etc. • Provides over $500k in annual operational support • Ordinances approved for the Park to provide free public programming in collaboration with DCASE mission, and protect private raised dollars from public offset • Fitness Programming from the naming of the McDonald’s Cycle Center • Endowments also support other free music programming presented by DCASE Department of Cultural Affairs & Special Events •Our mission is to “Enrich Chicago’s artistic vitality and cultural vibrancy” by providing high-quality free public programming to a world-wide audience •Continue implementation of the 2012 Cultural Plan of Chicago, through increased access to the arts city-wide by increasing grant opportunities, support of arts education in the public schools, and more programming in City parks/neighborhoods •Has a 2014 budget of $32 million, with 71 f/t employees; promotes, produces and presents over a 1000 FREE programs, festivals and events city- wide annually, including farmers markets, parades, civic celebrations, with an annual reach of 10 million •Millennium Park Ordinance, MCC#10-36-140 is key in the governance of the Park with regards to grants, sponsorship, permits, revenues, rules and regulations (including speech peddling); and the City’s ability to work with MPF on sustainability and future success 2014 Highlights • 10th Anniversary of Park, featuring new exhibitions, sculptures, more free programs including films and workouts • 82 dates of free programming in the Jay Pritzker Pavilion, the Grant Park Orchestra, DCASE branded series of Loops & Variations, Downtown Sound, Made in Chicago Jazz, as well as the CSO, Lyric, CYSO, NMMA, Chinese Fine Arts, Children’s Choir, Dancing Festival and the World Music Festival • Permanent home of the Chicago Jazz Festival for its second year MB Real Estate Services • Has been our agent for property management services in the Park since 2004 for the following functions: – Ability to hold specialty sub- vendor contracts, such as metal maintenance/ cleaning for Cloud Gate, the BP bridge and the Pritzker Pavilion, Crown Fountain support – 365 days a year on-site management – Public & Private Event support – Landscaping and Snow Removal – Electrical & Production support – Ice Skating Rink management – $6.2 million contract for 2014 Millennium Park Effect • Broad international recognition • Over $10 billion in spinoff development, primarily commercial, hotel, residential • Reorientation of Modern Wing at the Art Institute • Iconic images for the city…Cloud Gate and Crown Fountain • Added vitality for the East Loop • Creation of a special sense of place, pride and ownership by Chicagoans • Dramatic increase in tourism since opening of Park in 2004, 38.8m vs. 46.4m in 2013, goal of 55 million by 2020 QUESTIONS? QUESTIONS ?.
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