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News on the Ivanhoe, 801 N. Orange?

stevecrew0518

By stevecrew0518
in Orlando

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RedStar25 Burg

RedStar25

Posted
Posted

I was under that same impression. You can't tell that it looks like the grill of a car until you are in front of it. That's when it looks like crap. From the sides, it looks OK. [shrugs and finally understands that all projects in Orlando will be underrealized]

I would like you to explain in detail what you mean by underrealized. Giving examples etx of projects like this one that have been, dare I say, fully realized.

No animosity here.... just curious to see your point of view.

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bulldogger Town

bulldogger

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I would like you to explain in detail what you mean by underrealized. Giving examples etx of projects like this one that have been, dare I say, fully realized.

No animosity here.... just curious to see your point of view.

Without going through final renderings to actual pictures of every project, I know of one off the top of my head.

The FAMU Law School downtown was supposed to have a patio outside, which would have been concrete on the ground and shrubbery and light posts and I believe there was to be a seating area. What happened was white rocks, slack lighting design, and a circle of palm trees with no other shrubbery around it.

This doesn't even get into the whole idea of underrealized height of almost every single project that comes through the pipeline. I know someone (if not a few people) will argue about the developers needing to make money. They make plenty of money. It's not like they are doing the projects for an average salary to do good for the city on a whole.

The Vue is the next one that I want to see if they complete to their renderings. The first thing that I noticed is that in the NE corner, the glass wall was to be curved along the sidewalk. Not happening. The other part, which will make a huge impact on the project at street level is a huge water feature behind the building where they have their loading/unloading area. I want to see if that happens AT ALL. Let's see if it becomes realized.

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  • 3 weeks later...
JRS1 Town

JRS1

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I spoke with Ustler (the younger one) last week and brought up Verde. He told me to his knowledge, they (GDC) are/were sincere about their proposal and were also backed by alot of $$$ (b/c I brought up the issue with no deposits b/c of condo vs. apt). So, that's all I know from what he told me.

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Javalady1 Unincorporated Area

Javalady1

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I spoke with Ustler (the younger one) last week and brought up Verde. He told me to his knowledge, they (GDC) are/were sincere about their proposal and were also backed by alot of $$$ (b/c I brought up the issue with no deposits b/c of condo vs. apt). So, that's all I know from what he told me.

Did he mention and estimated start date?

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JRS1 Town

JRS1

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Did he mention and estimated start date?

nope. I don't think he would know. But I do know that some of 801's tenants think it's going to get built. I think it might have been a selling point fo them to buy in that location, or, maybe it will get built after all.

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bulldogger Town

bulldogger

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nope. I don't think he would know. But I do know that some of 801's tenants think it's going to get built. I think it might have been a selling point fo them to buy in that location, or, maybe it will get built after all.

That end of downtown (uptown) needs that project for a kickstart.

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gumpking1 Whistle-Stop

gumpking1

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That end of downtown (uptown) needs that project for a kickstart.

I was wondering if someone could do a new photo by adding all the new projects that are u/c along with Tradition Towers and post it on our website so we can really see what it will look like when tt is completed.Anyone out there can do this?

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Whipp Whistle-Stop

Whipp

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I was wondering if someone could do a new photo by adding all the new projects that are u/c along with Tradition Towers and post it on our website so we can really see what it will look like when tt is completed.Anyone out there can do this?

"that looks like a job for SUPERMAN!!!"

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uncreativeusername Hamlet

uncreativeusername

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Verde's target is in June.

Target for what? Groundbreaking? This is still supposed to be an apartment project, right? Excuse my naivety, but how does financing work for an apartment project? For a condo project, there's a trigger point for an amount of money raised in presales, or a % of condos sold...but obviously that doesn't quite work for apts...

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bulldogger Town

bulldogger

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Target for what? Groundbreaking? This is still supposed to be an apartment project, right? Excuse my naivety, but how does financing work for an apartment project? For a condo project, there's a trigger point for an amount of money raised in presales, or a % of condos sold...but obviously that doesn't quite work for apts...

I don't know specifics as I'm not in the industry, but I would think that it is more of a long term investment. It will probably make more money than condos, but it will take much, much longer. Either that, or a developer could always sell it to a management company that would take it over.

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jack Burg

jack

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June 1st groundbreaking. I am not too familiar with the company, but I hear are deep pocketed.

With financing, I hear it is tougher to get apartment financing because it is long term. But the return is greater just extended over a longer term. I think GDC is a privately held company. GDC Properties

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mrh3 Hamlet

mrh3

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I think that mixed-use retail complext would be PERFECT for the north lot or the lot catercorner to the south. I like the direction its going. Everything is new yet eclectic. Hopefully someone will make a statement and construct a major tower there. Hey, does anyone know the availability rate of the office space in the Uptown submarket?

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jack Burg

jack

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I think that mixed-use retail complext would be PERFECT for the north lot or the lot catercorner to the south. I like the direction its going. Everything is new yet eclectic. Hopefully someone will make a statement and construct a major tower there. Hey, does anyone know the availability rate of the office space in the Uptown submarket?

The One Orlando Centre just sold. Off hand I think their vacancy is at 20% The Travelers building has a pretty high vacancy rate as well compared to the CBD. Those are the only high rise office buildings in Uptown. But the rents are lower then the CBD and parking ratios are typically higher for the tenants.

Also, we should know in 2 months or so if Verde will happen. If so, they will start construction in July. That takes care of the lot to the North of 801 and gives Uptown some real presence.

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bic Burg

bic

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The One Orlando Centre just sold. Off hand I think their vacancy is at 20% The Travelers building has a pretty high vacancy rate as well compared to the CBD. Those are the only high rise office buildings in Uptown. But the rents are lower then the CBD and parking ratios are typically higher for the tenants.

The Orlando Sentinel is reporting that it sold for $90.6 million or $255 per square foot, making it a record per-square-foot price for the center-city market.

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mrh3 Hamlet

mrh3

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If there was a significant retail presence in this area or even space for the retail development, that would really make this submarket take off. I'm reallya curious about what was there before it became a collection of vacant lots. Was it simimlar to the homes constructed immediately to the east? Was it low-rise office? Who ever authorized the demolition of the buildings appears to have ripped the fabric of this area out. Hopefully some truly innovative developers can get in there and make something significant happen.

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jack Burg

jack

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Not really, but it looks good so far. But it is not 100%. I would expect an annoucement by July, 1st week in August at the latest. Then, construction should begin immediately. And it may before then.

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JRS1 Town

JRS1

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Not really, but it looks good so far. But it is not 100%. I would expect an annoucement by July, 1st week in August at the latest. Then, construction should begin immediately. And it may before then.

what I don't get is the feasibility of rental rates, b/c it's gotta be expensive to build the units higher up the towers; and would it even be cost effective to do so vs. going condo (rhetorical question)?

I hope it gets built...

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