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MONTH IN REVIEW Miami Beach Takes Another Step Closer to Convention Center Expansion BY SANDI CAIN, news editor Miami Beach – Te city of Miami Beach took a major step toward its long-awaited convention center expansion this week when it accepted eight bids for the esti- mated $1 billion redevelopment project. Among the final bidders: Flagstone Property Group of Miami Beach, whose landmark Island Gardens project in- cludes Miami's first super-yacht harbor; Dallas-based Matthews Southwest, which has built commercial, mixed-use and residential projects in Texas and Canada; Houston-based Rida Development, which built the Hilton Orlando; and Washing- ton, DC-based Urban Investment Advi- sors, which manages the Starwood Urban Group's mixed-use portfolios. Developers submitting bids were asked to consider redevelopment and financ- ing for a renovation and expansion of the 55-year-old convention center along with a headquarters hotel and development on the 52 public acres that surround the con- vention center. Shops, restaurants, parks and residential components are possible options for the acreage. The expansion would add roughly 213,000 square feet of exhibit space, 127,000 square feet of meeting space, and an assortment of pre-function, food and beverage and back-of-house space. Te expansion would add roughly 213,000 square feet of exhibit space, 127,000 square feet of meeting space, and an assortment of pre-function, food and beverage and back-of-house space. A 1,000-room convention center head- quarters hotel also is envisioned. In early 2011, city officials approved funding for the convention center up- grade to help the center remain competi- tive with other similar-sized convention centers attractive to trade show organiz- ers. In June, city commissioners will nar- row the field of development teams and begin work on selecting the winning bid. Te convention center, which opened in 1957, was last expanded in 1989 at a cost of $92 million ($751 million in today's dollars). It currently has 502,000 square feet of prime exhibit space and 127,000 square feet of meeting space. It is tied for No. 28 among U.S. mega conven- tion centers with AmericasMart in At- lanta and America's Center in St. Louis, according to Trade Show Executive's 2011 Directory of the World's Top Convention Cen- ters. It is managed by Global Spectrum. Jose Garcia, executive director of MiaGreen, which holds an annual expo in Miami Beach, said an expansion would be welcome for organizers, but updated technology is just as important to the show's international audience involved in solar and other green technologies. "It doesn't have to be huge, but it's impor- tant that it be state-of-the-art," he said. MiaGreen is a mid-size trade show that drew 3,656 attendees from 39 countries this year. Reach Jose Garcia at (305) 412-0000 or jose@miagreen.com; Bob Balsam, general manager at (305) 673-7311 or bbalsam@ themiamibeachcc.com got news? As you near the final stages of an acquisition, change in management, expansion, launch or other important news, let us know in advance that news is about to break. 10 May 2012 | Trade Show Executive CONTACT: Darlene Gudea, PUBLISHER & EDITOR (760) 630-9111 dgudea@tradeshowexecutive.com Hil Anderson, SENIOR EDITOR (760) 630-9107 handerson@tradeshowexecutive.com