Logo for my directory website

i would like to create a logo for my directory website called "street compass " , we need the compass to be the representation of our site .

we want to use an arrow sign to refer to the street , the word street must be written on the arrow sign , and the compass word must be on the bottom of the street sign ,the compass must illustrated in the place of the letter 'O' in Compass .

i have drown a simple sketch which will help understanding our idea better , you can check it n the attachments .

the logo type is : image + text , we have 2 images , the Compass mentioned above in place of 'O' in the Text Compass , and the arrow sign .

for the colors we like the logo to be like a watermelon ( LoL ) , you can check the attachment to see the watermelon color pallet.

its Ok for the sign background to be white ( light smock or something good from this white family ) , but its important to use the watermelon pallet in the compass part ( Text + image ) , the text may be the darker red of the pallet ,

the image ( compass ) has 2 borders , an outside and an inside border , each border will have its own color , darker green for the outside , and lighter green for the inside .

the compass inside background will be a light green ,the other compass details (North , South ,.. etc) would be black or any good color related to the pallet , make sure to let the compass glass somehow visible .

we need the original files of the logo ( vector AI , jpeg , transparent png in high resolution , photoshop , pdf )

we need a single version of the compass image with its original files , we will use it later as favicon .