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5 hours ago, jack said:

For new buildings, the cost is the cost. It may shock some of you folks, but I have had plenty of conversations with outsiders who think Orlando is under priced when it comes to rent. 

Yep, I understand that. I mentioned the fact that its cheap as far as downtown buildings go nationally. 

Don't get me wrong -- I don't want something for nothing. I'm just making an observation here.

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19 hours ago, jrs2 said:
1 hour ago, cwetteland said:

If the scale back was due to traffic concerns, what does that portend for City Centre (is this still a thing) or Capital Plaza III ?

If I recall it was over concerns about Pine Street at that location. Several forum members on here were very vocal about it. I thought it was silly. 

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On 2/18/2017 at 2:40 PM, Jernigan said:

 I don't really know how this stuff works… But it seems to me that you are to be able to mitigate traffic concerns by putting a cap on parking without any restriction and height or the # of units

Parking and unit count go hand in hand. You can't reduce one without the other. And you don't want to build a skinny building just to get height (unless you are in NYC), it would be inefficient and costly. 

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4 hours ago, jack said:

Parking and unit count go hand in hand. You can't reduce one without the other. And you don't want to build a skinny building just to get height (unless you are in NYC), it would be inefficient and costly. 

So are parking minimums market driven as much as they are city mandated?

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A debate I've heard often is one between parking minimums (regulatory-driven) and parking maximums (market-driven with a regulatory cap). Right now I think Orlando only has minimums, so something like Centro couldn't happen here. (And Centro only got away with it because it's so close to a MetroMover station.) Basically, they're forcing developers to add parking.

Also, there's a great infographic that shows how the average structured parking spot adds about $225/month to an apartment's rent:

Parking+Rent+-+Construction+June+2015.png

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23 hours ago, Jernigan said:

So are parking minimums market driven as much as they are city mandated?

Yes. WE have parking minimums mandated by the city. But you would not build a building in Orlando without parking. 

7 hours ago, sunshine said:

I read somewhere that Miami is building condo tower without parking. Maybe that can help drive the price down...

I guy at ZOM told me they were doing their first rental w/o parking in Miami. That was almost two years ago. 

Edited by jack
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I know it's not the norm but there was a guy trying to build some micro apartments in downtown and wanted to skip parking and invest in some combo of uber subsidies and zipcar but the city wouldn't let him.    It's projects like these that could start to push the needle 

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