UPMC High Point Lookout Tirzah DeCaria Jose FrechSakshiGanesh Melissa Lee Bhushan Suryavanshi Huimin Tan
Table of Contents • Business Model • Design • Environmental Sustainability • Financial Sustainability • Benefits for Pittsburgh • Summary
UPMC High Point Lookout A place for greener perspectives Mission To provide a way to experience the downtown skyline in Pittsburgh that is environmentally sustainable. Vision The UPMC High Point Lookout is a focal point for welcoming and economic prosperity for Pittsburgh.
Who are the customers? 3.9 Million Pittsburgh Tourists 10 Special Events 96 conferences Expected 150,000 visitors Annually
Design Concept Architects: Mitsu Matsuura, JiwonHur, Melissa Goh, Josh Johnson, Matthew Alder, Looly Lee, and YifanXu.
Design Concept - Outdoor/Indoor Space Architects: Mitsu Matsuura, JiwonHur, Melissa Goh, Josh Johnson, Matthew Alder, Looly Lee, and YifanXu.
Costs • $16.6 Million in capital costs • Materials & Construction ($15.9 million) • Permitting & Licensing ( $50,000) • Marketing Campaign ($ 1 million) • 1 year to complete construction
Funding Structure • UPMC will fund the project • Revenue potential and brand equity • Possible 501 c (3) status • Joint Venture between UPMC and Private Investors • Naming rights for UPMC with possible ROI on investment • Project will be funded by private investors • Naming rights revenue potential in addition to typical project cash flows
Financial Projections – Option 1 • 15 YR NPV @ 18% Discount Rate = $ 6.9 MM • Break Even = 5 Years
Financial Projections – Option 3 • 15 YR NPV @ 18% Discount Rate = $ 4.6 MM • Break Even = 5 Years
Financial Projections – Option 2 UPMC Investors • 15 YR NPV @ 18% = $ 4.6 MM • Break Even = 2.5 Years • 15 YR NPV @ 18% = $ 0.7 MM • Break Even = 8 Years
Benefits to the society • Open regularly for Non-profit organizations • Café and maintenance will hire Milestone Centers Inc. employees • Providing a green space for downtown visitors
Conclusion • Enhances Pittsburgh’s image as an innovator in a “green” way • Enhances the experience for the community of Pittsburgh • Financially sustainable business Financially, socially, and environmentally optimal use of the US Steel Towers rooftop.