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cwetteland

By cwetteland
in Orlando

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  • 9 months later...

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cwetteland Burg

cwetteland

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Has anyone gotten pics or plans for the new $175 million Rida project on this site?

I checked their site and saw nothing newer that the June 08 announcement that they purchased the property and said that eventually they would be building a mixed use project. Has there been an update?

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bic Burg

bic

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I'm happy to hear this, especially in these economic times.

Some good news: the developer says they would like to do this all in one phase.

Some bad news: looking at Rida's web site, it looks like most of their properties are extremely bland, architecturally.

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JFW657 Metropolitan Area

JFW657

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From the Rida website:

Rida Development Corp. has more than a million sf of mixed-use development in mind for its newly acquired 5.6-acre site at 400 N. Orange Ave. The Houston-based company bought the site for $15.1 million from Downtown Plaza LLC, says Grubb & Ellis Commercial Florida.

While Houston-based Rida Development is known primarily for hotels, it is also determined to pursue retail and office components on its newly acquired site. However, company executives admit they will already need to make adjustments based on current economic conditions.

"We will probably go back to the city with a slightly different plan," Marc Reicher, senior vice president with Rida Development in Orlando, tells GlobeSt.com. The most likely adjustments will be made to the project's office component, while the hotel and retail segments will move forward as planned, he says, adding that "we'd like to be able to do it all in one phase."

David Calcanis, vice president of Grubb & Ellis' Orlando-based Land Group, says the site is the last large parcel in the center of Downtown Orlando and has been approved for four towers housing 907,000 sf of offices, 76,000 sf of retail and restaurants, 150 residential condominium units, 150 hotel rooms, 50 residential/office lofts and a parking garage with more than 2,500 spaces. The land encompasses an entire block bordered by Amelia and Livingston streets, an exit ramp to Interstate 4 and the new Lynx Center Transit Terminal.

Rida Development is certainly no stranger to the Central Florida market, having built the 1,500-acre ChampionsGate golf community in northwest Osceola County and the 1,400-room Hilton Orlando Convention Center hotel. The firm's local investments are approaching the billion-dollar mark, with the 400 North Orange project estimated at $250 million, Reicher says.

"We like to think we have a good understanding of mixed-use development," he says. "We want to create something smart, something vibrant and something that enhances this part of the Downtown corridor."

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JRS1 Town

JRS1

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ah geez. like seriously, does anyone really believe that the 400 N. block will ever have something built there? Trump himself would have to be a partner and I still wouldn't believe it.

For that block to work, the Plus One project or another in its place would have to be built, so that 3 corners were developed. Then, develope that whole block... high rise, low rise, whatever. Then you have the Hoops block to the north. What do you do with that?

I think the only thing that is (or once was) a sure thing would be to develope that area with housing- the Hoops block, that is.

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  • 2 months later...
depechecureguyorl Whistle-Stop

depechecureguyorl

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any news on this parcel of downtown? I've lived in Orlando my whole life and am beginning to think that stretch of downtown will remain a parking lot for concerts at The Edge...wait...that was 15 years ago...It'll remain a fenced in grass patch for the downtown homeless. I really hope I'm proven wrong...

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JFW657 Metropolitan Area

JFW657

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any news on this parcel of downtown? I've lived in Orlando my whole life and am beginning to think that stretch of downtown will remain a parking lot for concerts at The Edge...wait...that was 15 years ago...It'll remain a fenced in grass patch for the downtown homeless. I really hope I'm proven wrong...

What's sad is that there was a row of perfectly good storefronts & a great nightclub building back by the tracks on Amelia that could've housed all kinds of great little businesses over the years had they not been demolished by a developer who didn't have the resources he thought he did.

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spenser1058 Gigalopolis

spenser1058

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What's sad is that there was a row of perfectly good storefronts & a great nightclub building back by the tracks on Amelia that could've housed all kinds of great little businesses over the years had they not been demolished by a developer who didn't have the resources he thought he did.

An excellent point, JFW, and something to remember when an astonishing number of folks start Pavlovian salivating every time somebody announces some new project, 80% of which will never be built and will likely leave a gaping hole in the streetscape. It is the nature of the beast.

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demon Hamlet

demon

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I still think... No Train, No Development. If the Train gets approved, the dirt'll get moved.

I think the train will be there one day. If commuter rail & HSR get build you could get from the airport to this hotel without renting a car.

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  • 10 months later...
Whipp Whistle-Stop

Whipp

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Rida's plans for the 400 block have resurfaced on the downtownorlando.com development website. It looks like a 15 story hotel would rise on approximately one half the block:

400 Block

at first glance, a fifteen story anything on this block makes me want to yawn, but i guess ANYTHING would be acceptable at this point! *sigh*

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  • 2 months later...

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