Monarch | 30-Story Mixed-Use [Proposed]

[dcluley98]

The link in that has the full maps for GOAA approval in higher resolution PDF format. 

GOAA has a website that details the review and approval process for each case. 

Edited September 18, 2020 by dcluley98

[smonteserin]

According to Growthspotter, Monarch Tower was approved by the MPB board today.

“I think this looks like a great project,” MPB member Jonathan Huels said. “I think it’s going to serve as another great focal point for the downtown. And, you know, at the same time, it’s assisting in or helping Westminster towers, the neighbor, with an issue that looks like they’ve had for a long time."

https://www.growthspotter.com/news/downtown-orlando-developments/gs-news-mpb-monarch-20200915-ckkzltx2erd2rdcihpv55desu4-story.html

[Uncommon]

I really don’t want to be negative but I will believe once it’s built. Zoi House, Church Street Phase 2, and Society have soured my outlook on Orlando development. And that’s not even mentioning at least 6-7 other “proposed towers” that haven’t been built in the last 5 years.

[JFW657]

1 hour ago, Uncommon said:

I really don’t want to be negative but I will believe once it’s built. Zoi House, Church Street Phase 2, and Society have soured my outlook on Orlando development. And that’s not even mentioning at least 6-7 other “proposed towers” that haven’t been built in the last 5 years.

I find the fact that those three projects haven't moved forward (and hopefully won't) encouraging in that we might have dodged the bullet of a downtown full of even more crapitecture. 

I wouldn't mind seeing The Golden Society Sparrow Orlando  or whatever they're calling it, go up, but I hope CS2 and ZH never see the light of day. 

[ChiDev]

51 minutes ago, JFW657 said:

I find the fact that those three projects haven't moved forward (and hopefully won't) encouraging in that we might have dodged the bullet of a downtown full of even more crapitecture. 

I wouldn't mind seeing The Golden Society Sparrow Orlando  or whatever they're calling it, go up, but I hope CS2 and ZH never see the light of day. 

CS2 would be cool, and I would like to see it get done, especially since against I4 is a hard spot to make things work.  ZH will get done the next time some Columbian drug lord needs to launder a heapload of cash, it makes about as much sense as a bunch of the Miami deals I am seeing come across my desk.

We looked at Co-living extensively, and while there are a number of things that make it attractive, I have NO IDEA how you convince people into it given the Pandemic.  Similarly with this deal, I just don't see how it gets done.  All the hotel guys I know are in a complete scramble right now, and sure AF aren't signing long term lease agreements in new towers.

[AmIReal]

3 hours ago, Uncommon said:

Church Street Phase 2

Since phase 1 just opened the week downtown shut down I think it is too soon to write this one off.

On the other hand, with WeWork problems and the likely problems of the office space market, you may be right.

[jack]

1 hour ago, ChiDev said:

CS2 would be cool, and I would like to see it get done, especially since against I4 is a hard spot to make things work.  ZH will get done the next time some Columbian drug lord needs to launder a heapload of cash, it makes about as much sense as a bunch of the Miami deals I am seeing come across my desk.

We looked at Co-living extensively, and while there are a number of things that make it attractive, I have NO IDEA how you convince people into it given the Pandemic.  Similarly with this deal, I just don't see how it gets done.  All the hotel guys I know are in a complete scramble right now, and sure AF aren't signing long term lease agreements in new towers.

Considering that the tenants tend to be younger at PMG's properties, it is reasonable that they may end up building it. They have other assets to peg it against, even if they are in stronger markets. 

In other words, who knows. I would not invest in that property type but I never would have so I am biased. 

[ucfpatriot18]

The building that has been onsite forever is being demolished today. 

[spenser1058]

12 minutes ago, ucfpatriot18 said:

The building that has been onsite forever is being demolished today. 

Does that mean it’s in the way to build something or they have no reason for a sales office anymore since it’s a lost cause?

I know- they could build a Church of the Nazarene there! Oh, wait...

Edited January 7, 2021 by spenser1058

[bqknight]

2 hours ago, spenser1058 said:

Does that mean it’s in the way to build something or they have no reason for a sales office anymore since it’s a lost cause?

I know- they could build a Church of the Nazarene there! Oh, wait...

They haven't needed a sales office for years. There were always homeless people sleeping under the front awning too. 

It's a good lot, hopefully something materializes. 

[IAmFloridaBorn]

[orange87]

So this is happening?

[dcluley98]

Well, they bought the property.  They still would need to get approvals and secure the construction loan financing.  It is a very good sign though. 

[jack]

2 hours ago, dcluley98 said:

Well, they bought the property.  They still would need to get approvals and secure the construction loan financing.  It is a very good sign though. 

This is just a refinance. They already own the property. 

[dcluley98]

I was assuming it was a cash-out refinance to lower their payments and extend duration, and open up some funding for project development costs such as design/engineering services, marketing costs, staff for planning process, etc. 

[Uncommon]

Not sure. They’ve owned the land since 2005 it looks like. Wouldn’t surprise me if they just continue to hold but at a lower interest rate due to the refinance and then sell it at a later time. Didn’t they propose a project on this lot to make it look potentially more desirable to buyers, only to have the recession hit and mess up their plans? Seems to me they’re not interested in building on this lot as much as they are selling it one day.

[bqknight]

That article is from August 17, 2020, is it not?

[IAmFloridaBorn]

I should've highlighed my reason for posting. 

Says 4th quarter 2021 ground breaking. I was just sharing hope especially since society is actually finally happening!

[jack]

18 hours ago, IAmFloridaBorn said:

I should've highlighed my reason for posting. 

Says 4th quarter 2021 ground breaking. I was just sharing hope especially since society is actually finally happening!

Gotcha. I missed the date of the article. I wonder if they are in for permitting. 

[IAmFloridaBorn]

I don't think this looks the same as the articles renderings but it's a Baker Barrios video on YouTube much like the did with Zoo House and Church Street Place 2. I have to say, I like it. Personally, Orlando's typical blueish buildings with a visor is what I've gotten used to. They aren't bad looking. Maybe not the most creative but it makes me wonder why so many newer buildings are blueish.  Anyway here is the link for YouTube. 

 

 

[IAmFloridaBorn]

8 minutes ago, IAmFloridaBorn said:

I don't think this looks the same as the articles renderings but it's a Baker Barrios video on YouTube much like the did with Zoo House and Church Street Place 2. I have to say, I like it. Personally, Orlando's typical blueish buildings with a visor is what I've gotten used to. They aren't bad looking. Maybe not the most creative but it makes me wonder why so many newer buildings are blueish.  Anyway here is the link for YouTube. 

 

 

 

[dcluley98]

That's a good looking design. Really like the glass and the feature elements that tie in multiple places such as the curved up visor element with lighting on the top, entrance and pool area, the criss/cross lattice on the bottom pedestal facade/garage screen, some of the glass, and in the columns on the ground floor,  the full vertical white lines on the south facade and other areas, etc. 

That design is coherent and well done. The ground floor also looks fantastic to the street. 

Edited May 3, 2021 by dcluley98

[gibby]

6 minutes ago, dcluley98 said:

That design is coherent and well done. The ground floor also looks fantastic to the street. 

From South Street too?

[Uncommon]

7 hours ago, dcluley98 said:

That's a good looking design. Really like the glass and the feature elements that tie in multiple places such as the curved up visor element with lighting on the top, entrance and pool area, the criss/cross lattice on the bottom pedestal facade/garage screen, some of the glass, and in the columns on the ground floor,  the full vertical white lines on the south facade and other areas, etc. 

That design is coherent and well done. The ground floor also looks fantastic to the street. 

Ehh doesn’t it kinda look similar to Church Street Plaza? We definitely don’t need another building that resembles anything close to that.

 

EDIT: never mind. From the picture, yes, but after watching the video, no it doesn’t resemble CSP.

Edited May 3, 2021 by Uncommon

[codypet]

They got SED showing up like its going to really be there.