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Pete C

Jeff Vinik's $1 billion plan for downtown Tampa revealed

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wow seems like a plan that will let Tampa Bay take all the spot lights back from Orlando....

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wow seems like a plan that will let Tampa Bay take all the spot lights back from Orlando....

It just seems like they got their own creative village style project. It says in there they they are not building any new office towers on speculation, they need to find tenants first. So we both have parallel projects likely on a similar timeline...

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This seems like a sweeping version of several proposals we currently have underway - Creative Village, Magic Sports / Entertainment Complex, Central Station.   The obvious difference is that the Tampa proposal is a major development project designed to bring residents and visitors to the core and redefine the image of Tampa, whereas in Orlando the developments are infill.

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This seems like a sweeping version of several proposals we currently have underway - Creative Village, Magic Sports / Entertainment Complex, Central Station.   The obvious difference is that the Tampa proposal is a major development project designed to bring residents and visitors to the core and redefine the image of Tampa, whereas in Orlando the developments are infill.

I think you're right about the comparisons between this and the Orlando combined projects, and when you add it all up, the scope isn't that different. When you say Orlando's projects are infill. I read that as meaning Orlando's projects are within the core, and Tampa's are apart from the core.  Advantage Orlando.  The redefinition of image you mention, I take a meaning Tampa will finally have a live-in, night-life atmosphere. That is something Orlando already has, and with all the proposed residences, and venues Orlando is adding, Tampa will only be chasing us.  But as you say, Orlando's is infill, so our business core will continue to become more dynamic while Tampa's will continue to be isolated from their new entertainment complex.

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This seems like a sweeping version of several proposals we currently have underway - Creative Village, Magic Sports / Entertainment Complex, Central Station.   The obvious difference is that the Tampa proposal is a major development project designed to bring residents and visitors to the core and redefine the image of Tampa, whereas in Orlando the developments are infill.

I'm kind of wondering, whats in this project that is not in the Creative Village project? The price point and timeline are both similiar, here's a comparison of the numbers:

  • Orlando's Creative Village vs Tampa's Waterfront 2020
  • 1,200,000 square feet of office/creative space vs 1,100,000 square feet Office Space
  • 600,000 square feet UCF Downtown vs 330,000 square feet USF Medical Downtown
  • 25,000 square feet of K-12 education space vs none
  • 1,500 residential units vs 660,000 sq ft residential units, should be fairly similiar in size
  • 150,000 square feet of retail/commercial space vs 250,000
  • 225 hotel rooms vs 575,000 square feet of hotel space
  • 68 acres vs 40 acres
  • $1 billion vs $1 billion

So we're looking at very similiar projects... Orlando has most things proposed to be slightly more square footage, but has quite a bit more acreage as well, likely making it slightly less dense, which makes sense, as Orlando's significantly less valuable location within the city vs Tampa. Looks like very comparable projects to me. Biggest difference will be who can get it done... obviously Orlando's had this project planned for quite some time and we're just starting to see some progress and news, Tampa is saying they want a much more aggressive timeline but hasn't really done anything Creative Village hasn't yet.

Edited by aent

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wow seems like a plan that will let Tampa Bay take all the spot lights back from Orlando....

 

Are we reading the same articles?

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