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Monarch | 30-Story Mixed-Use [Proposed]

Jernigan

By Jernigan
in Orlando

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ChiDev Whistle-Stop

ChiDev

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Yeah they are going to do a zero edge pool down the entire side of the building?  hope people in a 4 block radius like occaisionally being whipped in the face with errant pool water carried by the wind.  This structure has to be expecting rents higher than currently exist in the Downtown.

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smileguy
smileguy

My projection on what the final project will look like...

smileguy
smileguy

Sorry -- here's the summer look. 

DreS0803
DreS0803

Not the clearest rendering, but plans call for a 24 story Apartment/Hotel tower. Initial concept allows for up to 380 rental units. hotel could be 130 rooms Up to 200 rooms depending on the hotel. 

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Uncommon Hamlet

Uncommon

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2 hours ago, ChiDev said:

Yeah they are going to do a zero edge pool down the entire side of the building?  hope people in a 4 block radius like occaisionally being whipped in the face with errant pool water carried by the wind.  This structure has to be expecting rents higher than currently exist in the Downtown.

You think this is going to get built?

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ChiDev Whistle-Stop

ChiDev

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On 5/3/2021 at 2:48 PM, Uncommon said:

You think this is going to get built?

I didn't think City Tower was going to get built, and thought Society Orlando (x) would never gonna break ground.  I am wrong frequently. 

That said, I would be amazed if this structure or ZOI ever saw reality.  This deal might pan out if they permit the top floors as PH condo.  The recent Condo trades downtown would support this angle.

Any way this winds up getting done, I think it's EXTREMELY unlikely they wind up affording a multi-floor exterior video screen. Excluding that and the top floor pool, any structure sporting the finishes as shown would have to charge a rent higher than any property downtown to function.

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Uncommon Hamlet

Uncommon

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https://www.growthspotter.com/news/downtown-orlando-developments/gs-news-monarch-jaymore-downtown-orlando-tower-multifamily-hotel-20210811-v6klke4t3zd3tiho2w7ez75b6y-story.html
The Jaymor Group anticipated starting construction by the end of this year, however, Aswsumb said he wasn’t sure when Northland intends to put their own shovels in the ground. Representatives with Northland were not immediately available to comment.

Orlando planning board gives nod to first downtown co-living apartment tower

Records in Orange County suggest Northland plans to break ground soon. Northland’s general council Beth Kinsley signed a Temporary Construction and Access Easement agreement that cleared records simultaneously with the property deed. The agreement gives Northland a temporary, non-exclusive construction and access easement pursuant to construction plans.

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AmIReal Burg

AmIReal

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2 hours ago, Uncommon said:

https://www.growthspotter.com/news/downtown-orlando-developments/gs-news-monarch-jaymore-downtown-orlando-tower-multifamily-hotel-20210811-v6klke4t3zd3tiho2w7ez75b6y-story.html
The Jaymor Group anticipated starting construction by the end of this year, however, Aswsumb said he wasn’t sure when Northland intends to put their own shovels in the ground. Representatives with Northland were not immediately available to comment.

Orlando planning board gives nod to first downtown co-living apartment tower

Records in Orange County suggest Northland plans to break ground soon. Northland’s general council Beth Kinsley signed a Temporary Construction and Access Easement agreement that cleared records simultaneously with the property deed. The agreement gives Northland a temporary, non-exclusive construction and access easement pursuant to construction plans.

Interesting.

$11M for a 1 acre, shovel ready, fully entitled 30 story, 380 unit apartment plus  200 bed hotel that comes with "necessary permits and site plan approvals... to help approve the construction of a new segment of Lake Avenue west of the neighboring Westminster Plaza senior living community, to allow easier access for the planned hotel entrance"... seems like a steal.

That makes 2 announcements (the other https://www.bizjournals.com/orlando/news/2021/08/11/florida-downtown-orlando-apartment-construction.html?cx_testId=40&cx_testVariant=cx_11&cx_artPos=1#cxrecs_s)  out of that neighborhood today that would produce $100M in improvements.

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jrs2 Metropolis

jrs2

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18 hours ago, AmIReal said:

Interesting.

$11M for a 1 acre, shovel ready, fully entitled 30 story, 380 unit apartment plus  200 bed hotel that comes with "necessary permits and site plan approvals... to help approve the construction of a new segment of Lake Avenue west of the neighboring Westminster Plaza senior living community, to allow easier access for the planned hotel entrance"... seems like a steal.

That makes 2 announcements (the other https://www.bizjournals.com/orlando/news/2021/08/11/florida-downtown-orlando-apartment-construction.html?cx_testId=40&cx_testVariant=cx_11&cx_artPos=1#cxrecs_s)  out of that neighborhood today that would produce $100M in improvements.

that rendering shows maybe 20 stories at the most.  is there another rendering?

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jrs2 Metropolis

jrs2

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58 minutes ago, orange87 said:

Any porta potty sightings yet?

nah...these guys also announced a companion project in Daytona that they got money for... a month ago... unless they take the money and skip the country, like the original Lexington/Crowne Plaza/Holiday Inn people did during the boom, dunno...  I think they got a construction loan for that project.

can you get construction loans for two concurrent projects at the same time?

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IAmFloridaBorn Burg

IAmFloridaBorn

Posted
Posted (edited)
2 hours ago, orange87 said:

Any porta potty sightings yet?

4th quarter 2020. So in next 60 days hopefully if Northland is still keeping the 30 story highrise 

1 hour ago, jrs2 said:

nah...these guys also announced a companion project in Daytona that they got money for... a month ago... unless they take the money and skip the country, like the original Lexington/Crowne Plaza/Holiday Inn people did during the boom, dunno...  I think they got a construction loan for that project.

can you get construction loans for two concurrent projects at the same time?

Well Jaymar sold this land  to Northland Corp.

So the Monarch site is totally up to Northland Corp now. 

Edited by IAmFloridaBorn
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jrs2 Metropolis

jrs2

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On 9/17/2021 at 6:28 PM, IAmFloridaBorn said:

4th quarter 2020. So in next 60 days hopefully if Northland is still keeping the 30 story highrise 

Well Jaymar sold this land  to Northland Corp.

So the Monarch site is totally up to Northland Corp now. 

did I know that?  so, that means Jaymar can focus on the ISB project solely in Daytona with the construction loan money and the sale money to Northland...

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IAmFloridaBorn Burg

IAmFloridaBorn

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3 hours ago, jrs2 said:

did I know that?  so, that means Jaymar can focus on the ISB project solely in Daytona with the construction loan money and the sale money to Northland...

Precisely. Now what Northland does , I don't have any idea or theories. They just found what Jaymar was going to do with Monarch "Interesting" whatever that means in commercial real estate talk. 

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jrs2 Metropolis

jrs2

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1 hour ago, IAmFloridaBorn said:

Precisely. Now what Northland does , I don't have any idea or theories. They just found what Jaymar was going to do with Monarch "Interesting" whatever that means in commercial real estate talk. 

yeah, I was worried b/c I didn't think that company had the ability to handle two big projects like this simultaneously; and another poster on these boards is very skeptical whether they can pull off the Daytona project at all...

Do we know what other projects Northland has done?

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IAmFloridaBorn Burg

IAmFloridaBorn

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On 9/27/2021 at 5:51 PM, jrs2 said:

yeah, I was worried b/c I didn't think that company had the ability to handle two big projects like this simultaneously; and another poster on these boards is very skeptical whether they can pull off the Daytona project at all...

Do we know what other projects Northland has done?

Well there is still a green tarp around the fence that is around the property so that's it. No movement thus far.

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