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DelGreco

Parramore's Future: Highrise Development or No?

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Top 10 Hottest Job Markets for Young Adults

The fact Orlando is the only Florida city on the top 10 destination list for Young Adults is a good sign for the future of Dowtown Orlando....especially the emerging High Tech corridor on the west side of I-4. Combine that with the fastest growing university (UCF) in the country, a top 5 national Research Park next door, and a potential BioMedical hub in Lake Nona area....WOW! Keep up the good work Orlando!

Youth represents sustained growth....Go Magic! Go Buddy!

I do believe the children are our future...teach them well and let them lead the way

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It has always been my thought that West of the 4 would the "Real" downtown of our future. I think we will see much more ambitious projects there; not as limited by FAA. So the lets see what happens.

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quote name='Pieson' date='Apr 13 2007, 01:24 PM' post='749263']

I do believe the children are our future...teach them well and let them lead the way

7 Ways Black Orlando can Share in Venue Success

Pieson, Looks like Willy agrees with you, and so do I. I am afraid the black community is already too late to have a strong say in what role they will play in the new Parramore. The savvy developers have already started to assemble large tracts of land. Considering how overpriced the east side is and how underpriced the west side is, can you blame them? Guess where investor's stand to get a better return on their investment? Parramore! Once the venues get going and a few more "big" developments get subsidized, the momentum will really increase. The private investor will overcome the fears of the past and you will see the mom and pop shops spurting up everywhere. I have always said that big developments generate momentum, but the small private investors are the ones that make a business community sustainable.

It should be interesting to watch Parramore evolve over the next few years...shouldn't be long before we see Buddy Dyer's statue go up on the entrance to the new Central Park (Parramore Heritage) right next to that wonderful 4-way clock! At least now the homeless know what time it is! :thumbsup:

post-6620-1189189355_thumb.jpg

Let's not forget that Canyon Partners is headed by Magic Johnson and his real estate investment team. That's black money if I've ever seen it.

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Let's not forget that Canyon Partners is headed by Magic Johnson and his real estate investment team. That's black money if I've ever seen it.

This Orlando Forum is starting to fizzle. We need some excitement. Orlando is a young, vibrant city with so much potential. A lil downturn in the real estate market is not a concern for Downtown Orlando. Lots of people still desire the urban lifestyle of "work and play where you live". This concept is alive and well....it is just that the market (current jobs/salaries) are not ready for $400K-$500K condos. However, we are ready for condos under $350K. Hopefully, construction costs will come down and the developers will become less greedy to the point it will happen. The east side of downtown is just so overpriced right now. That's why I am so sold on Parramore....affordable urban lifestyle is possible there.

Do you think Magic Johnson and his Canyon Partners can build something like the Burj Dubai for about $4.1B. It is only 170 habitable floors and 2,700 ft. The scary part is there are projects competing with this one in Bahrain and Kuwait that are supposedly planned for 200 floors and 3,300 ft tall. I can't even imagine what something like that would look like in downtown Orlando.

post-6620-1189704404_thumb.jpgpost-6620-1189704424_thumb.jpg

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quote name='Pieson' date='Apr 13 2007, 01:24 PM' post='749263']

I do believe the children are our future...teach them well and let them lead the way

7 Ways Black Orlando can Share in Venue Success

Pieson, Looks like Willy agrees with you, and so do I. I am afraid the black community is already too late to have a strong say in what role they will play in the new Parramore. The savvy developers have already started to assemble large tracts of land. Considering how overpriced the east side is and how underpriced the west side is, can you blame them? Guess where investor's stand to get a better return on their investment? Parramore! Once the venues get going and a few more "big" developments get subsidized, the momentum will really increase. The private investor will overcome the fears of the past and you will see the mom and pop shops spurting up everywhere. I have always said that big developments generate momentum, but the small private investors are the ones that make a business community sustainable.

It should be interesting to watch Parramore evolve over the next few years...shouldn't be long before we see Buddy Dyer's statue go up on the entrance to the new Central Park (Parramore Heritage) right next to that wonderful 4-way clock! At least now the homeless know what time it is! :thumbsup:

post-6620-1189189355_thumb.jpg

what is the town square next to hd supply building on w. church...?

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I feel like an idiot saying this, but I believe that Central Boulevard is poised to be a major corridor in the future. It already has the hard urban dynamics that make an area feel like a "Big City" it really needs businesses with street front retail that go up 6-8 stories at least. As far as the area around Parliament,

Orlando Sentinel: Crime Down in Parramore

You are starting to look like a genius! Central, South , and Anderson appear to have a bright future!

The difference in Parramore is noticeable, but still 2-3 yrs from becoming the new urban star. With the current high fuel prices and a difficult economic recession ahead, people tend to remember "Urbanism". Dowtown Orlando and Parramore is all about urbanism and creating full service, self contained community. Things are moving now...

Great job Chief Demmings!

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crime decrase because a lot of the land was cleared out and a lot of the residents was displaced.

City Tops List of Property Owners Near New Arena Location

Does anyone subscribe to the Orlando Business Journal that can access the full version?

I am not surprised by the City being #1 in that area. I wonder what they will do with all that property?

Who are the other 3 on the top 4 list the article mentions? Are they European Investors? I wouldn't doubt it, considering how strong the Euro and British Pound are these days. They love Florida and I am sure they will be buying up properties at a bargain....I suspect that is good for the Florida Economy and the tax base.

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City Tops List of Property Owners Near New Arena Location

Does anyone subscribe to the Orlando Business Journal that can access the full version?

I am not surprised by the City being #1 in that area. I wonder what they will do with all that property?

Who are the other 3 on the top 4 list the article mentions? Are they European Investors? I wouldn't doubt it, considering how strong the Euro and British Pound are these days. They love Florida and I am sure they will be buying up properties at a bargain....I suspect that is good for the Florida Economy and the tax base.

I would really love to read that article. Anyone have access to it by any chance and want to PM me :)

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This sums it up. It is not that long of an article. The print version had a map.

"Four groups own most of the property in the area:

Carolina Florida Properties. The land the arena will sit on belonged to Carolina Florida Properties, a North Carolina-based investment group. The company sold 9.4 acres to the city of Orlando in March 2007 for $35 million and still retains four parcels on West Church Street.

Carolina Florida Properties bought 48 different parcels between 1997 and 2001 for about $9.4 million with hopes of building a Winter Park Village-type development.

Lutfi Investment Co. Inc. The firm owned by Mohammad, Jamal and Said Lutfi has seven parcels, most with apartments.

Hellenic Investment Properties Corp. The Winter Park firm is run by Ted and George Papageorgiou and owns nine parcels in the area.

City of Orlando. Not including the arena site, the city owns 40 separate parcels. Four of those parcels are owned by the city's Community Redevelopment Agency and include the Jackson Court Apartments."

But the best part is

Robert Uttal of Church Street Square LLC owns two area parcels now up for sale, but he's also considering an offer to rent the land to park 60 to 65 cars during events at the arena. "We think they're going to be short on parking space."

Uttal expects the property values to increase as the events center nears completion. Currently, he's asking $125-$130 per square foot, but the price could climb to $250 when the area opens. "San Diego had a similar situation. Land went from $30 a square foot to $260."

What is that guy thinking. The Pizutti block had development rights did not sell for that much.

Edited by jack

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But the best part is

Robert Uttal of Church Street Square LLC owns two area parcels now up for sale, but he's also considering an offer to rent the land to park 60 to 65 cars during events at the arena. "We think they're going to be short on parking space."

Uttal expects the property values to increase as the events center nears completion. Currently, he's asking $125-$130 per square foot, but the price could climb to $250 when the area opens. "San Diego had a similar situation. Land went from $30 a square foot to $260."

What is that guy thinking. The Pizutti block had development rights did not sell for that much.

Wow! Forget the $250 sqft.....even $100sqft is quite good. This should be a nice payday for the City and the other 3 parcel owners.

The City acquired most of it for pennies on the dollar many years ago under the guise of "Public Safety Complex", but recently acquired a few parcels for over $100 sqft, which serve as great comparables to justify Mr. Uttal's $125-$135 asking price. Plus I imagine the City will be very flexible with zoning changes to accomodate mixed-use proposals from investors/developers. The question is will it be mid-rise (4-6 stories) or high-rise development...

I wish they would put a Home Depot/Lowe's west of Parramore Ave....it will do very well with the pending redevelopment and the local downtown residents east of I-4. Why not, we already have a Super Target! :dontknow:

Edited by DelGreco

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"Carolina Florida Properties bought 48 different parcels between 1997 and 2001 for about $9.4 million with hopes of building a Winter Park Village-type development."

That sentence makes me very skeptical - almost all the stories I read about Carolina-Florida during that time, and all the discussions I heard around City Hall and in community activist circles, was that C-F was assembling properties on spec in anticipation of the new Federal Courthouse being built and eventually a new arena. I never heard any mention of a "Winter Park Village-type development." As we know, both buildings came to pass and I believe C-F benefitted from both (I did "a Google" -thanks McCain - and it appears the corporation is still active, although I haven't seen anything about them mentioned anywhere in quite a while). Anyway, methinks someone at OBJ swallowed a press release on this one. And we thought the Sentinel was the only local paper to give up journalism.

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I saw some rederings of their proposed development where the arena is going. I am not sure if they ever took it for approval but the lady that was telling me about it said they canceled it because the market was not there.

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I saw some rederings of their proposed development where the arena is going. I am not sure if they ever took it for approval but the lady that was telling me about it said they canceled it because the market was not there.

Great update - thanks!

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I saw some rederings of their proposed development where the arena is going. I am not sure if they ever took it for approval but the lady that was telling me about it said they canceled it because the market was not there.

what happened to the proposed "patch up" they were planning on doing to the street fronts on church street?

thanks for posting that!

Edited by PMWMagic

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Government pays whatever for property when they need it. A private development could not build anything and get the returns they need to be profitable.

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Government pays whatever for property when they need it. A private development could not build anything and get the returns they need to be profitable.

Considering the streak of unemployment, especially in the construction industry, this is a blessing in disguise. Orlando and Dowtown needs this kind of medium scale projects to keep us active until the economy recovers.

Downtown Makeover? City to Decide on Parramore Project

The design and scale of this project is desirable. Location is within walking distance to everything downtown. I would live here.

Given the fexibility in design, zoning, and availability of large empty parcels, I can see this area recovering before the rest of downtown. You have the freedom to use your imagination and to do it cheaply. Prices of construction materials/labor is dropping. When the Private Sector is down...we need the Public Sector to keep the economy rolling.

I hope they approve it...

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11 stories isn't tall by any means, but this will stand out in a good way in the heart of Parramore. Does anyone have any updated renderings? The last thing I remember seeing was what looked like a 3-tier building.

NEVER MIND. I see the new thread now.

Edited by bulldogger

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11 stories isn't tall by any means, but this will stand out in a good way in the heart of Parramore. Does anyone have any updated renderings? The last thing I remember seeing was what looked like a 3-tier building.

NEVER MIND. I see the new thread now.

Congratulations Dowtown Orlando! It looks like Parramore is well on its way to turning around and "integrating" into the Central Business District. This was the right thing to do for the decent and hardworking people of Parramore, the dowtown resident that paid a premium to live the urban lifestyle, and the small business owners that want to attract pedestrian traffic and clients without having the homeless harrassing everyone.

Plus, this will generate quite a few badly needed construction jobs.

Sentinel: Orlando Takes Up Gays, Parramore, Cleanup

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^^

that middle picture is in Atlanta. wow, check out Buckhead/Perimeter Center's buildings on the horizon...

Field of Dreams- if you build it, they will come. truer words were never spoken. some developer needs to add to the HD Supply HQ block with some mixed use buildings and get something going; they need to fill the gaps between the O-Rena, State Reg. Service Center, and FAMU and the Amway Center and turn it up. If they do the bridge district idea, I think that will go a long way to helping that get going.

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