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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