The Odyssey Project Summary-

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The Odyssey will be an iconic, mixed use, multi-revenue stream project along the banks of the Trinity
River in Dallas. The Odyssey is located less than a half mile from the Central Business District, steps
away from the Dallas Convention Center, the Houston-Dallas High-Speed Rail station, the Dallas
Water Gardens and Texas’s largest multimodal hub. The Odyssey will be the centerpiece of the dynamic
transformation of South Dallas and will be part of a new sub-district which will be the Southern “front
door” to Dallas. The building is designed to be 100

The Odyssey

Project Summary

Introduction

The Odyssey will be an iconic, mixed use, multi-revenue stream project along the banks of the Trinity

River in Dallas. The Odyssey is located less than a half mile from the Central Business District, steps

away from the Dallas Convention Center, the Houston-Dallas High-Speed Rail station, the Dallas

Water Gardens and Texas’s largest multimodal hub. The Odyssey will be the centerpiece of the dynamic

transformation of South Dallas and will be part of a new sub-district which will be the Southern “front

door” to Dallas. The building is designed to be 100% carbon neutral. Millions of visitors will be able

to experience The Odyssey in a whole new way through its enclosed Giant Observation Wheel, the

only one of its kind in the world.

Dallas-based Global Icon

The Odyssey is inspired by developments such as the London Eye, The Shard, a London-based mixeduse

development, and the Marina Bay Sands, a luxury destination in Singapore. The Odyssey will

combine the following features and building uses to generate multiple revenue streams and reset the

architectural bar for Dallas and the Western Hemisphere:

• Unique architectural and building design with over 1 million sf of programmable space;

• Environmentally sustainable and climate responsive state-of-the art technology;

• A Giant Observation Wheel with programmable experiential cabins to be used for social,

business, touristic activations.

Building/Site Specifications

• 7.061-acre site (307,577 sf)

• 1,080,000 sf of programmable space

• 600,000 sf of office space

• 250,000 sf of hotel space

• 50,000 sf of retail

• 25,000 sf of STEM/STEAM


• 2,000 stall Parking Garage

• 50 stories high / 533 feet tall (162.5 meters)

• 638 feet at its widest point

• Form designed/optimized to create a carbon neutral building

• 4-acre building foot-print

Building Uses

• Corporate Office Headquarters

• Hotel & Meeting Space

• Giant Observation Wheel/Experiential Attraction

• Restaurants & Bars

• Retail

• Performance/Entertainment Venues

• STEM/STEAM Educational Center

Direct Revenue Streams

• Tenant Leases

• Hotel room nights

• Parking

• Attraction Ticket Sales & Entertainment Venues

• Food & Beverage

• Sponsorship & Naming Rights

• Energy Generation (tax credits & tenant billing)

Location

• Adjacent to Texas Central’s Dallas-Houston High-Speed Rail station

• Walking distance to the Dallas Convention Center

• Contiguous with the Dallas Water Gardens (largest US hydrology project in history)

• Walking distance to a 27-acre multi-modal urban transportation hub (the largest in North

Texas)

• On the banks of the Trinity River and adjoining Trinity Park Conservancy Project


Public Incentives

• Convention Center Hotel Tax Abatement Program

• Qualified Opportunity Zone

• Tax Increment Financing

• City, County, State & Federal Incentives

• Education Grants

• PACE Financing

Accomplishments to Date

• 7.061-acre site under contract

• City of Dallas Plan Commission and City Council entitlements secured, as of October 2018

• Trademarked building design

• Preliminary technical study/verification completed by structural engineer, ARUP

• Initial third-party cost estimation prepared by Sunland Group

• Market Assessment and Iconic Building best-uses and programming study completed by

StreetSense, a subsidiary of CBRE

• Third party ROM (Rough Order of Magnitude) proforma

Odyssey Build Team

The following team functions have been determined:

• Architects

• Structural Engineer, Sustainable Technologies and Circular Economy and Civil

• Contractor

• Project/Cost Management

Land Partners/Development Team (in formation)

• Odyssey Developments

• Matthews Southwest

• Kuper Sotheby’s International Realty/Developer Services

Preliminary Financials (Projections)

• Debt/Equity: 60%/40%

• Build Cost: $619,000,000

• Stabilized Annual NOI: $55,000,000

• Public Incentives: TBD

• Sponsorship Revenue: $6,000,000

• Office Lease Rate: $60.00/SF (blended)

• Office NOI: $29,500,000

• Hotel ADR: $434.00

• Hotel NOI: $7,800,000

• Attraction Ticket Price: $20.00

• Attraction NOI: $10,500,000

• Parking NOI: $6,000,000

• Total Capitalized Value: $924,000,000

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