Creative Village Update

(Image from Creative Village Proposal)

Orlando City council is moving forward with Creative Village, the $1.0 billion mixed-use development planned for downtown Orlando over the next 20 years. (see previous ATRD post:  Creating a Creative Village for the Creative Class).  


Their approval provides development rights and purchase options for Creative Village, Development, LLC, lead by Craig Ustler, to redevelop the 68 acres of land now occupied by the old Amway Arena.


This is an enormous project and will be a model for other cities wrestling with their declining downtowns if they can figure out how to finance the project.  The mayor originally stated that minimal public funds will be used to develop the property but has since committed money to help in the demolition of the 22 year old arena to help prepare the site.


For related articles, see the following:
Orlando Sentinel:  Orlando Looks Ahead to "Creative Village"


Bizjorrnals:  Orlando Moves Forward on Creative Village




  

Creating a Creative Village for the Creative Class

(Image from Creative Village Proposal)

(Image from Creative Village Proposal)

(Image from Creative Village Proposal)

(Image from Creative Village Proposal)

Orlando has a plan for a 68-acre tract downtown that is currently home to the aging Amway Arena, a handful of buildings, and the sea of parking lots surrounding them.  With the Orlando Magic moving to the new Amway Center in October of this year, the large parcel of land is being reconstituted into what planners are calling the “Creative Village”.  The goal, according to the City of Orlando Concept Team Report, is to build a community that is focused on technology and to attract “the lifestyle of creative people and become a supportive, business-friendly environment in which digital media and related companies can thrive”.

The village would consists of housing, retail, technology focused business, green space, as well as other amenities that would support a 20 – 40 year old demographic.  Plans call for over 1,200+ housing units, 1,000,000 sf of office space, 125,000+ sf of commercial/retail, 200 hotel rooms, 325,000+ sf of educational facilities.

Craig Ustler, President of Ustler Development Inc and a well know Orlandian restaurateur turned developer has submitted the winning proposal to develop Creative Village with his extended team under the banner, Creative Village, Development, LLC.  For a detailed review of their plan – see their proposal submitted to the City of Orlando.

This will be another interesting development to watch.  This is one of the first concepts that I am aware of that is targeting the creative industry specifically as an anchor for redevelopment.  We have seen technology components in various developments, including Southfield (see previous post here) where a $100 million film studio was incorporated into the project.  Orlando obviously has a rich history of technology when you consider the innovation that exists in the numerous amusement parks located there.  This could be a coup for them and a way to lure a creative class to an urban development that will redefine their downtown.