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Society | 28- & 17-Story Residential [Under Construction]


Jernigan

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17 hours ago, IAmFloridaBorn said:

Ehhh. I'll take the grass being a park or something iver central station and this project. 

Yes, and it would have been awesome if they had moved the Zoi House oak tree diagonally across Orange Ave and made it the centerpiece of said park.

But both those parcels are privately owned commercial real estate zoned for commercial high rise construction worth millions of dollars both in resale value as well as untold millions of dollars more in future income potential.

So as nice as a shady green park might have been there, it was never a remote possibility.

What we got was, IMO, better than the empty lot that sat there unused since the mid 1980's.  

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6 hours ago, JFW657 said:

Yes, and it would have been awesome if they had moved the Zoi House oak tree diagonally across Orange Ave and made it the centerpiece of said park.

But both those parcels are privately owned commercial real estate zoned for commercial high rise construction worth millions of dollars both in resale value as well as untold millions of dollars more in future income potential.

So as nice as a shady green park might have been there, it was never a remote possibility.

What we got was, IMO, better than the empty lot that sat there unused since the mid 1980's.  

Im assuming most parcels downtown are privately owned?

 

Is that why they sit for so long? 

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45 minutes ago, IAmFloridaBorn said:

Im assuming most parcels downtown are privately owned?

 

Is that why they sit for so long? 

Absolutely.

Any property not owned by the city, county or state is privately owned real estate purchased and sold for the purpose of profiting via development or in cases where buildings already exist, via leasing space, etc. 

As nice as a park would have been on that lot, it would have taken a very wealthy individual or entity to purchase it then deed it over the city with an expressed requirement that it be used only as a park. 

Very few people willing to do something like that. 

The reason they sit for so long is due to commercial real estate market factors like demand for office or residential space, which is affected by how much space exists already unused. 

Downtown Orlando has always had a soft commercial office space market, which is why we don't see taller office buildings or more of them.

I think DTO just has too much competition. 

 

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On 1/18/2023 at 9:19 AM, bqknight said:

Curious to see what they charge for the units. That area could really use a grocery store. 

There is a 15000 and a 14000 sf retail space in this building, which would fit some smaller format concepts.   The space along the tracks may be difficult for any tenant that's not a destination. 


https://retailproperties.cbre.us/p/retail-real-estate-listings/Orlando-FL-32801/societyorlando#highlights

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On 2/5/2023 at 3:16 PM, IAmFloridaBorn said:

PXL_20230205_195540734.jpg

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I absolutely love the dark grey tint on the window panel portions of that north face...  very northern looking.  so tired of beige... CSP should have had the grey as it's base color on the eastern facade IMO.

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1 hour ago, JFW657 said:

The more I see this first tower taking shape, the more I know that when the second short, stubby tower is finished, I'll be wishing they'd built them both the same height. 

Sigh. 

I can't wait 'till they build tower 2...if for no other reason than to tick off Crescent with its proximity.

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17 hours ago, JFW657 said:

The more I see this first tower taking shape, the more I know that when the second short, stubby tower is finished, I'll be wishing they'd built them both the same height. 

Sigh. 

That's *if* Phase II even comes to fruition.  This is Orlando after all, the land of big dreams and value engineering. The excuse for not building anything will always get blamed on construction costs going up (shocking, I know).

IMO, they should at least build the 2nd tower and leave it as shell space for future build-out similar to the top floors at 55W or Advent Health Ginsburg tower that were left empty for years until ready. It's unlikely the costs of construction and materials will go down -- historically prices have always risen. With the extra shell space, they can let the market determine the #of bedrooms, sq ft, etc. to build-out when ready.

Mark my words, if/when Phase II finally rolls around, they're going to piss off residents living in the original tower and nearby apartments who are still paying market rate rent while having to deal with all sorts of construction related intrusions: noise at all hours of the day, construction dust/debris, bright site lights shining through their windows at night, limited access to certain areas, and g-d knows what other unforseen issues. Residents at Skyhouse went through a helluva time dealing with the construction of Radius across the street... now imagine all of that bullsh.t happening only a dozen yards away from your apartment.

Edited by nite owℓ
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3 hours ago, nite owℓ said:

That's *if* Phase II even comes to fruition.  This is Orlando after all, the land of big dreams and value engineering. The excuse for not building anything will always get blamed on construction costs going up (shocking, I know).

IMO, they should at least build the 2nd tower and leave it as shell space for future build-out similar to the top floors at 55W or Advent Health Ginsburg tower that were left empty for years until ready. It's unlikely the costs of construction and materials will go down -- historically prices have always risen. With the extra shell space, they can let the market determine the #of bedrooms, sq ft, etc. to build-out when ready.

Mark my words, if/when Phase II finally rolls around, they're going to piss off residents living in the original tower and nearby apartments who are still paying market rate rent while having to deal with all sorts of construction related intrusions: noise at all hours of the day, construction dust/debris, bright site lights shining through their windows at night, limited access to certain areas, and g-d knows what other unforseen issues. Residents at Skyhouse went through a helluva time dealing with the construction of Radius across the street... now imagine all of that bullsh.t happening only a dozen yards away from your apartment.

First world problems.   ;) 

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On 12/4/2022 at 5:14 PM, JFW657 said:

I think DTO just has too much competition. 

absolutely, ala rents, etc.

but  add to that the fact that the city, in trying to lure more tenants downtown, to avoid the "soft" office market syndrome it has always had, I don't think they're doing enough to sweeten the pot to lure companies downtown compared to other cities.

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7 minutes ago, jrs2 said:

absolutely, ala rents, etc.

but  add to that the fact that the city, in trying to lure more tenants downtown, to avoid the "soft" office market syndrome it has always had, I don't think they're doing enough to sweeten the pot to lure companies downtown compared to other cities.

Whenever they have, they've gotten criticized for handing the city over to developers.

Danged if'n they do, danged if'n they don't. 

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On 2/10/2023 at 2:01 PM, JFW657 said:

Whenever they have, they've gotten criticized for handing the city over to developers.

Danged if'n they do, danged if'n they don't. 

very true.  but there's got to be a plan in place; a template.  I mean, look at Chicago; yeah, it's big, but they lure companies there (amidst all the bad press).  It's a marriage of sorts.  Look at Unicorp...they have the retail connections; wherever they go, they can count on those retail "partners" to follow and 'trust' their development judgment.  I guess Kuhn might have been that guy back during the boom. 

I think the City thinks that if a developer builds residential with street side retail, that will fix everything, one block at a time.  In theory it probably would...one block at a time.  But at the rate at which development occurs downtown, we'll all be dead before downtown hits a stride where developers are busting down the doors of City Hall. 

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