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XpressEnterprise

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Posts posted by XpressEnterprise

  1. 1 hour ago, dcluley98 said:

    From my understanding, the project as designed is not "back". They are just trying to sell the lot to a new developer, as somebody else posted previously, and with an exorbitant asking price of like $15 Million. 

    Thanks for the clarification. I thought the article was saying it was trying to secure equity from another source to fund the project. 

  2. Looks like this thing is coming back alive 

     

    Orlando apartment experts are confident in downtown’s appetite for multifamily construction — and that bodes well for a 1.4-acre site near Creative Village.

    A 31-story residential tower was proposed in August 2015 for the parcel on West Jefferson Street between Garland and Gertrude avenues. City of Orlando officials at the time had approved construction of 450 apartments, a 478-space detached parking garage and 13,464 square feet of ground-floor commercial use. However, the project never broke ground.

     
     

    That’s because Miami-based Orlando Central LLC — which in 2015 was under contract to buy the property from Delray Beach-based landowner HHH Reilly Fund LLC — couldn’t secure equity for the planned project. Approvals for the proposed project’s master plan were extended in July 2017 through Aug. 10, 2018, city documents showed.

    But now, HHH Reilly Fund plans to seek a new buyer, with plans to put it back on the market next month. The proposed West Jefferson Street tower site — referred to as Orlando Central in city documents — also may be ideal for a hotel or mixed-use development, according to Robert Smith, president and founder of Orlando-based Smith Equities Real Estate Investment Advisors, who will begin marketing the property for sale in April. “The seller feels like it has a great location.”

    The time seems right for the project to move forward, since downtown has roughly one-third of Central Florida’s $3 billion in apartments planned or under construction, real estate experts said.

    Part of the reason for the optimism: Construction is well underway on the first phase of the $1.5 billion Creative Village mixed-use project.

    Creative Village, anchored by the UCF Downtown shared campus between Valencia College and the University of Central Florida, is expected to bring nearly 8,000 students, faculty and staff into downtown and its surrounding neighborhoods.

    And it’s expected to encourage even more downtown activity.

     

    “We are bullish on the long-term growth prospects taking place in downtown Orlando,” said Scott Ramey, senior managing director with New York-based Newmark Knight Frank (Nasdaq: NMRK), who isn’t involved in either project. “More renters want to move to an urban, walkable environment, which is now being created in downtown Orlando.”

    In fact, downtown’s apartment market, known as the central submarket, has performed strong. Rental rates climbed to $1,547 per month from $1,435 the year prior, the most recent data from Charlotte, North Carolina-based Real Data Inc. showed. The submarket’s average vacancy in fall 2018 was 8.1 percent, and a total of 3,512 units were under construction — the most in Central Florida.

    Regardless, the new project adds to more than $2 billion in overall proposed downtown tower construction, which would generate thousands of temporary construction jobs, add hundreds of new residents and likely attract more businesses.

    Already, at least 10 new towers are proposed in the 1,000-acre central business district as developers scoop up available land to build more apartments, offices, shops and restaurants.

    • Thanks 1
  3. 16 hours ago, jrs2 said:

    talk of the Magic BB has been moved to the Coffee House.  That being said:

    My comment (read it again) dealt more with the aspect of the combination of Alston & Lee filling in more or less for an injured Jameer in Games 1, 2, & 3.  After the Magic got the momentum and won Game 3, the coaches changed the lineup and reduced Lee's playing time from 20 minutes in Game 3 down  to 7 minutes in Game 4, while increasing Jameer's playing time  from 11 minutes in Game 3 to 25 minutes in Game 4.  They lost.  Starter; backup; it's irrelevant; just look at the numbers; Jameer had the playing time of a starter in Game 4.  When they realized the screwup,  they flip flopped it again in Game 5, but it was too late.

    Oh yah and I completely agree with you here... There are some "fans" who argue Jameer STARTED over Alston.

    • Like 1
  4. On 1/16/2019 at 12:06 PM, jrs2 said:

    I know this isn't about the Magic team, but, to be fair about this franchise here's the "couple of questionable calls" I've witnessed:

    1.  They let Shaq go

    2.  They allowed a hobbling Jameer to resume his starting role over Alton and the other guy who were doing great against the Lakers in The Finals.

    3.  They listened to Dwight when he pressured them to fire VanGundy.  They fired VanGundy and started sucking; Dwight ended up leaving ANYWAY...

    4.  They said no to Rodman

    5.  They signed choir boy Grant Hill in a manner which locked him in for many injury laden years which affected their ability to go after big healthy talent.

    6.  They signed a known head case (can't remember his name) within a couple years after The Finals who of course didn't pan out.

    7.  There's more; but I'm at work.

    And, no, I don't like them....  :)

    Sorry for correction but it just irks me when people say Jameer started over Altson. He never started over Alston in the Finals. Here's the starters for each game. 

    GAME 1: http://www.espn.com/nba/boxscore?gameId=290604013

    GAME 2: http://www.espn.com/nba/boxscore?gameId=290607013

    GAME 3: http://www.espn.com/nba/boxscore?gameId=290609019

    GAME 4: http://www.espn.com/nba/boxscore?gameId=290611019

    GAME 5: http://www.espn.com/nba/boxscore?gameId=290614019

  5. It looks like Amelia Court at Creative Village closed on 3 acres in CV and approved to begin foundation work this week. The plans are said to have 2 5 story residential buildings. I do not recall any renderings. Anyone have? 

    • Like 2
  6. 22 hours ago, JFW657 said:

    You guys talk like all this Magic related stuff should be easy as pie to anyone with a modicum of business acumen.

    If it were as easy as is being implied by some here, to build a championship NBA team, the NBA would be full of nothing but championship teams. If it were as easy as is being implied by some here, to build a major downtown entertainment complex, every city in the country would have one. Maybe two, even!!!

    None of us know what is going on behind closed doors in the Magic front office, so why bother driving yourselves nuts predicting and speculating? 

    I know it's very hard to build a championship team, heck look what's going on with the Cavs right now. Just, it's hard being a fan after all the decisions the prior GM made. Trading away Dipo who is now an All-Star, what did we get in return T-Ross when it's all said and done... Mario is having a great year, but is likely to walk this year, partially not this FO's fault. Payton traded for a 2nd round pick (I know we wouldn't of gotten more) but we traded away a top 10 pick for him. I can go on, but just explaining why the fans are a bit disgusted to say the least. Anyhow, I'm not sure about ticket sales. From what I heard, some games are selling out? I would think we would need to return to the playoffs for them to make the push to build out the complex. Similar to when the new stadium was constructed during the Dwight era. Just my 2 cents. 

    • Thanks 1
  7. GrowthSpotter is now reporting. Would be amazing/miracle if this gets off the ground. At least from the article we get some closure of what happened to Orlando Central;

    "The site was previously under contract in 2015 to a developer that proposed a 31-story, 450-unit residential tower with retail space, dubbed "Orlando Central." Hahamovitch said that buyer could never get their financing together to close on the land."

    Wasn't sure if that was in it's own thread or not. 

    • Like 1
  8. 1 hour ago, sunshine said:

    how?

     

    If you have the web developer extension for chrome, disable JavaScript. Or you can do this:

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  9. 6 hours ago, spenser1058 said:

    Paul Brinkmann at the Sentinel is reporting more details on the 15-story student tower to receive a review tomorrow. Details include dorms, education/education support facilities and 12K sf ground floor retail. I'll add a link as soon as I have access if no one posts it before.

    Here's the link: http://www.orlandosentinel.com/business/brinkmann-on-business/os-ucf-valencia-creative-village-dorm-20170508-story.html

    • Like 1
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