news and updates
Work Underway on $105 million mixed-use Student Housing Project by Ustler/DEVEN
Ustler Development, Inc. and DEVEN (formerly known as KUD International, LLC) are co-developing Parcel J at Creative Village and construction began in October 2017 on the $105 million mixed-use Student Housing Project with approximately 600 student housing beds, 105,000 SF of education space leased to UCF and Valencia College, 12,000 SF of ground floor commercial space and a 600-space integrated parking garage; to be completed August 2019.
- Click here to see the renderings.
Click here to watch the video.
Creative Village Phase I, including the Student Housing Project and the UCF/Valencia Downtown Campus, is an Innovation District emerging in the heart of Downtown Orlando. Please click here to read more about the urban campus housing model.
A village emerges in the heart of downtown Orlando
Creative Village builds upon the success of Orlando's digital media industry by transforming the former Amway Arena site into a 68-acre mixed-use, transit oriented, urban infill neighborhood in the heart of downtown Orlando.
The vision for Creative Village focuses on creating a true "live, work, learn, and play" urban destination through a development plan that supports a synergistic and dynamic mix of uses including office/creative studios, higher education, PS-8 education, mixed-income residential, retail/commercial and hotel.
Leading higher education providers; high-tech, digital media and creative companies; and a diverse mix of students, employees and residents will one day call Creative Village home.
UCF/Valencia Downtown Campus Broke Ground on May 11, 2017
The University of Central Florida, Valencia College, City of Orlando and Creative Village Development, LLC broke ground on the new Downtown Campus on May 11, 2017. The first phase of the Downtown Campus includes:
- A $60 million, 148,000-square foot academic building named the Dr. Phillips Academic Commons, designed by Robert A.M. Stern Architects (RAMSA) and SchenkelShultz Architecture; to be completed in August 2019. Click here to see the renderings.
- $5 million renovation to the UCF Center for Emerging Media (CEM) and Florida Entertainment Academy (FIEA building); to be completed in August 2019.
- A $13.5 million, 600-space parking garage and a utility plant; to be completed in August 2019.
- A $105 million, 600-bed privately developed mixed-use student housing project; to be completed in August 2019.
Phase I of the UCF/Valencia Downtown Campus will bring over 7,700 students to downtown Orlando when it opens August 2019, with future plans to accommodate 10,000 - 15,000+ students. Many community leaders attended the groundbreaking celebration, including Orlando Mayor Buddy Dyer, Orange County Mayor Teresa Jacobs, UCF Provost Dr. Dale Whittaker, Valencia College President Dr. Sandy Shugart, former President of the Florida Senate Andy Gardiner, former Speaker of the Florida House of Representatives Steve Crisafulli, Orlando District 5 Commissioner Regina Hill, UCF Board of Trustees Chairman Marcos Marchena, and Dr. Phillips Charities President Ken Robinson. Click here to read more. Click here to see photos from the event. Follow the links, below, to view the UCF groundbreaking videos:
Phase I Development in Creative Village Valued at $450 million; Total Phase I Investment is $502 million
- As part of the UCF/Valencia Downtown Campus, Ustler Development, Inc. and DEVEN Development Ventures Group (formerly KUD International, LLC) will deliver a $103 million student housing project on Parcel J in August 2019. This initial phase of purpose-built student housing will be 15 stories and will include approximately 600 beds, 600-space integrated parking garage, 105,000 SF of education space leased to UCF and Valencia College and 12,000 SF of ground floor commercial space. The student housing project will be home to Valencia College’s hospitality and culinary arts programs.
- Banc of America Community Development Corporation and Atlantic Housing Partners are developing a 5-story 256-unit mixed-income apartment community on Parcels N and P valued at $56 million. The project is scheduled to open in Summer of 2019.
- The Ustler Group of Companies and a Joint Venture Partner are developing a $75+ million market rate apartment project with 12-14 stories and 300+ units on Parcel M. The development will offer a variety of unit types, structured parking, a pool deck with residential amenities and a food hall. It is scheduled to open in 2020.
- United Capital Corporation recently completed a $40 million renovation of an existing property and opened a full-service Marriott with 299 rooms and 20,000 SF of banquet and meeting space on December 13, 2017.
- Orange County Public Schools opened a $60 million new PS-8 school adjacent to Creative Village on August 14, 2017. The school is a significant milestone for the Parramore neighborhood.
- The Phase I private vertical development outlined above is valued at $336 million; UCF and Valencia direct investment is valued at $93 million; Phase I infrastructure is valued at $23 million; other value, including the City land and building donation to UCF and other investment by the Master Developer, is valued at $52 million; for Phase I development valued at $450 million and Phase I total investment collectively valued at $502 million.
Master Development and Third-Party Parcels
In order to further the mission and vision of Creative Village as an urban infill, mixed-use transit oriented development, the Master Developer is collaborating with various project partners and consultants on planning efforts that will shape future development at Creative Village. To date, numerous documents including the Master Plan and Phasing Plan, Architectural and Design Guidelines, Planned Development Zoning Ordinance, Streetscape Design Guidelines, Mobility Plan, Infrastructure Master Plan and Public Art Guidelines have been completed. The Parks and Open Space Master Plan will be completed in 2018.
The Creative Village Development Review Committee (CVDRC) has held several meetings to review development proposed at Creative Village. To download the CVDRC schedule, agendas and meeting minutes visit the City of Orlando's website.
JLL is marketing select parcels at Creative Village for sale to compatible and qualified third-party purchasers. Targeted uses include multifamily, office, commercial and/or mixed-use. In accordance with the Phasing Plan, the available parcels are Parcel H and Parcels X & X-1. A potential developer has been identified for a market rate apartment project on Parcel U. For more details or to download the marketing brochure, click here to visit the Creative Village land brokerage website. Click here for the JLL News Release.
Orlando Recognized for Economic Growth and Unique Personality
- The New York Times covers what to do with "36 Hours in Orlando." Click here.
Forbes names Orlando #1 for 2018 places to invest in housing. Click here.
Forbes ranks Orlando as No. 2 Fastest Growing Metro in 2017. Click here.
Thrillist calls Orlando "one of America's most surprisingly dynamic places." Click here.
Architect Magazine says "Orlando has invested in a booming downtown and an increasingly urban sensibility that's worth checking out." Click here.
UCF Downtown at Creative Village
University of Central Florida (UCF) is moving forward with their plan for a significant downtown Orlando campus, located at Creative Village. Between UCF and its partner, Valencia College, Phase I of the campus is expected to bring over 7,700 students to downtown Orlando. UCF Downtown will build upon already existing educational assets surrounding the Creative Village.
The commitment by UCF and Valencia to a large downtown campus at Creative Village sets the stage for additional private development and university-related uses.
Recent milestones include:
- In April 2017, UCF secured approval from the Creative Village Development Review Committee for the first academic building.
- In September 2016, UCF announced that they have exceeded their $20 million fundraising goal for the first phase of UCF Downtown.
- In August 2016, UCF validated the project schedule for delivery of the new academic facilities and announced the UCF Downtown will officially open in August 2019 with over 7,700 UCF and Valencia College students.
- In June 2016, UCF selected the design/build team of SchenkelShultz Architecture, Robert A. M. Stern Architects, and Skanska USA Building, Inc. for the $60 million academic building at UCF Downtown. Click here for more information.
- In June 2016, the Valencia College Board of Trustees approved the MOU with Ustler Development, Inc. and KUD International, LLC, regarding development of the Student Housing Project at Creative Village, including the new Valencia College Hospitality and Culinary facility.
- Creative Village Development, LLC advances plans for Phase I private development concurrent with UCF Downtown approval. For details, click here.
- Governor Scott affirmed his support for UCF Downtown by announcing he will approve the $20 million allocation in the State budget for the new academic building. For more information, click here.
- UCF Downtown was approved by the Board of Governors on March 2, 2016. Read more here.
- UCF and community leaders have made significant progress towards raising the $20 million in philanthropy for the new $60 million academic building.
- Orlando City Council approved the MOU between UCF and the City to facilitate the downtown campus. To read the article, click here.
To learn more about UCF Downtown, visit http://www.ucf.edu/downtown
Construction Completed on LYNX LYMMO Lime Line
Construction was completed in early 2017 for the LYMMO Lime Line. This project marked the beginning of road, utility and infrastructure work at Creative Village. The LYMMO expansion provides Bus Rapid Transit (BRT) service connecting Creative Village and the Parramore community with the Central Business District, Church Street Entertainment District and Thornton Park. Limited service began in January 2016, with full service to Creative Village beginning in 2017. For the current LYNX LYMMO service map, click here.
JLL to Market Select Parcels at Creative Village
JLL has been retained by Creative Village Development, LLC (CVD) to oversee the marketing of select sites available for sale at Creative Village. Pursuant to the Master Development Agreement, select parcels will be marketed to third-party buyers in multiple phases. The first phase consists of three development sites programmed for multifamily, office, commercial and/or mixed-use development. The brokerage team leading the marketing effort is comprised of JLL Senior Vice President Aaron Gray and JLL Vice President Bret Felberg of the Orlando office.
As part of the initial phase and in conjunction with the first phase of UCF Downtown, private development includes a 600-bed, $90 million student housing project by Ustler Development, Inc. (Ustler) with KUD International, LLC as joint venture partner and a 250-unit market-rate apartment project by Ustler and a joint venture partner valued at $62.5 million. Additional private development includes a 116-unit, $29 million mixed-income housing project by Banc of America Community Development Corporation (BACDC) and Atlantic Housing Partners. Adjacent development includes the $40 million renovation of the former Sheraton Hotel and a new $60 million PS-8 Orange County Public School serving the Parramore community.
Click here for the news release.
Orlando is a world class city
2014 was a banner year for our City Beautiful. In addition to the UCF and Valencia announcement, we opened SunRail commuter rail service and the Dr. Phillips Center for the Performing Arts, completely overhauled the Citrus Bowl and broke ground on our Major League Soccer stadium. We also celebrated the formation of the Orlando Tech Association and their designation as an official City of Orlando "Digital Main Street" and we opened the Church Street "Tech" Exchange, which houses several emerging technology companies, including CANVS, Echo Interaction Group, Splyt, Plan Source, The Iron Yard and Power DMS.
We maintained the momentum in 2015 with the re-election of Mayor Buddy Dyer, the announcement of a professional women's soccer team, the Orlando Pride, the community efforts to address homelessness and the delivery of many exciting commercial projects.
Others are starting to figure out what we already know – that Orlando is a great place to live, learn, work and play. Orlando was recently ranked seventh in the nation in job growth. Click here for the article.
Orange County Public Schools announces new Downtown PS-8 School
In January 2015, Orange County Public Schools announced a new PS-8 school to be built in the Parramore neighborhood, adjacent to Creative Village. The $60 million school, serving preschool through 8th grade, is scheduled to open in Fall of 2017 and is being touted as a "national model" for public education. Significant community partners include the Rosen Foundation, UCF, Boys & Girls Club of Central Florida, Valencia College and the City of Orlando.
Click here for a link to the official news release.
Project DTO - the next decade
Quickly after taking office in 2003, Mayor Dyer acknowledged that great cities have great downtowns, so he commissioned the Downtown Strategic Transition Team (DSTT) to create a strategic roadmap for downtown Orlando. The DSTT delivered recommendations, including large-scale projects like SunRail and the community Venues, and other lifestyle amenities, like a downtown grocery store and movie theater. Of the original 166 recommendations, 144 have been accomplished. Looking forward, Mayor Dyer assembled the Project DTO Task Force to create the strategic plan for the next decade. For more information about Project DTO, click here. To watch the Project DTO visioning video, click here.
From the Magic Kingdom to a medical city: How a culture of collaboration is fueling a new Orlando
UCF, EA Sports team up on digital lab
City of Orlando and Creative Village receive a $400,000 grant
Civic Urbanism Students Bring Portland Design Ideas Back to Orlando's Creative Village
Orlando's Creative Village and Tampa's ENCORE! Project Have Designs on Reviving Their Local Economies
Goodbye, arena - hello, Creative Village