Orlando Magic Entertainment Complex [Proposed]

[IAmFloridaBorn]

I am not believing a damn thing until I see a yellow, orange, or light green vest on site with a bunch of people

[spenser1058]

32 minutes ago, IAmFloridaBorn said:

I am not believing a damn thing until I see a yellow, orange, or light green vest on site with a bunch of people

If you see them and go to check it out, then someone wants you to discuss a “great business opportunity” but won’t tell you what it’s called….RUN!!!!!!

[codypet]

29 minutes ago, spenser1058 said:

If you see them and go to check it out, then someone wants you to discuss a “great business opportunity” but won’t tell you what it’s called….RUN!!!!!!

They told me what its called.  They said it was Vertical Medical City. 

[spenser1058]

2 minutes ago, codypet said:

They told me what its called.  They said it was Vertical Medical City. 

Touché!

[jrs2]

do we even know who the development partner is?  didn't they announce something a few months back?

[orange87]

On 8/31/2022 at 2:40 PM, AmIReal said:

No porta potty on site yet, but the Magic say they are starting the MEC in early '23 with plans for completion in '25.

https://www.bizjournals.com/orlando/news/2022/08/31/orlando-magic-sports-entertainment-district-florid.html

I'm an optimist by nature, but I am highly skeptical about this, and with good reason.

[Tim3167]

Wasn’t there a rumor on here about the potential of the Wilf’s joining in on the project? Pretty deep pockets that could make it happen immediately no?

[spenser1058]

1 minute ago, Tim3167 said:

Wasn’t there a rumor on here about the potential of the Wilf’s joining in on the project? Pretty deep pockets that could make it happen immediately no?

It would certainly make a difference. However, Mark Wilf was on with Marc Daniels and Bianchi this morning and Wilf seemed to be more into making Orlando City (and the Pride) consistently competitive before moving on to facilities and other stuff. That seems to be working, so it may happen but may take a while.

[dcluley98]

Wilfs are focused on the Training facility first also. Supposedly they are going to upgrade the complex in Kissimmee and make the old baseball stadium a better fit for soccer. They bought the church property just so they can have a space adjacent to the stadium for tailgating.  They are all about ROI for their funds. The tailgating thing is a genius move because there was pent-up demand for it from the old days playing at CWS.  They are somewhat limit in amount, but also a money maker for the team. They are chargin $40 for an official parking spot and they also are tying it to Season Ticket holders (they get first dibs for limited spots) so that it incentivizes being a season ticket holder.  Smart moves that help rebuild the culture as well as provide financial incentives.  I doubt that OrlandoCitySC will be developing that property any time soon. They are content what what they have right now until they build back up the team and the fan culture/base for more revenue. 

Eventually, they may develop some around the stadium or with the DeVos' (they name dropped them on Bianchi this morning, eww ), but they are all about ROI, so they are working on those things and the low-hanging fruit first. For little investment, they can generate some revenue and build up ST holders and ticket sales. 

[AmIReal]

4 hours ago, jrs2 said:

do we even know who the development partner is?  didn't they announce something a few months back?

They appear to be looking for a new partner- "The team is expected to bring on a new development partner for the 8.4-acre project, which will impact the timing and schedule.", "The team and development partner may need to reassess the plans in light of other projects announced in the last year."

On the bright side, "Sports and entertainment districts have fared well post-pandemic compared to other central business districts."

All quotes per GS https://www.growthspotter.com/news/downtown-orlando-developments/gs-news-orlando-magic-sed-update-20220901-orjtoy5yuvgefldledtu4eqvsq-story.html

[dcluley98]

Magic aim to start building Sports + Entertainment District by early 2023

https://www.orlandosentinel.com/sports/orlando-magic/os-sp-orlando-magic-sports-entertainment-district-20221001-t6wu46cssva2fp43olip5hk3xq-story.html

Orlando Magic CEO Alex Martins recently told the Orlando Sentinel that the organization is planning to start construction on the long-awaited $500-million-plus downtown Sports + Entertainment District by the end of March 2023.

He added that the project is expected to be a “two-year build process” and be completed “sometime in 2025″ but wasn’t sure when exactly it’d be done.

Pat Gallagher, director of the Sports + Entertainment District, told GrowthSpotter in early September that the team would be releasing more information about the project within the next few months.

[codypet]

But did he mention when the port-o-let's would be moved in?