Laserfiche WebLink
<br />e <br /> <br />Section II <br />SUMMARY OF FINDINGS AND RECOMMENDATIONS <br /> <br />This section of the report presents a summary of the findings and recommendations of the <br />market and financial feasibility study for an aquarium proposed for Sunny Isles Beach, located in <br />Florida, at the eastern edge of the county. Only the salient highlights are presented in this <br />section. Subsequent sections present documentation in support of these findings and <br />recommendations. <br /> <br />THE AQUARIUM CONCEPT <br />An aquarium is a combination of marine exhibits, various bodies of water that combine to <br />provide an exciting, educational interactive entertainment experience. Since its inception in the <br />United States in the mid-1950s, the aquarium industry has increased in sophistication and <br />complexity, and management within the aquarium industry has been elevated to a higher level of <br />professionalism. This concept continues to expand, into smaller municipal projects. In accordance, <br />the aquarium exhibits have continued to evolve, becoming more interactive and creative, with <br />adding a balance of amenities and other activities for all ages. <br /> <br />e <br /> <br />THE PROPOSED SITE <br /> <br />The site intended for the proposed aquarium is the Sunny Isles Beach area, which is located <br />just north of Miami Beach / Bal Harbor area and just south of A ventura Florida on the coast. The <br />entire property will consist of I OO,OOO-square- foot center, although only half the property will be <br />required to develop the proposed aquarium the other halfis for parking and retail. <br /> <br />THE MARKET <br /> <br />The primary market from which the proposed aquarium will derive the bulk of its support is <br />the residential market within 100 miles of Sunny Isles Beach. The population of this market area is <br />currently estimated to total 5,637,157; however, more than 50% of this population resides within 50 <br />miles of Sunny Isles Beach. Therefore, the challenge for the proposed aquarium is to formulate a <br />strategy to penetrate this entire market and even reach Orlando tourist market. <br /> <br />COMPETITION <br /> <br />e <br /> <br />Miami Sea Aquarium <br />Sea World Parks <br />The Florida Aquarium <br /> <br />Feasibility Study for a Proposed Aquarium at Sunny Isles, Florida <br /> <br />Page 2 <br />