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Orlando City Place

Jaybee

By Jaybee
in Orlando

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GRS328 Whistle-Stop

GRS328

Posted
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I don't think there was a sales center. But I do think that any developer worth a dime would have done some extensive market research, and my guess is that market research told them this project isn't feasible, not any time soon anyway.

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GRS328 Whistle-Stop

GRS328

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But if true, that would mean the developer's had gotten pretty far down the road before deciding that it wouldn't work.

Now all this could be true, but again, I'm skeptical of the skepticism.

You're right. And I hope they have done some substantial research, and maybe gotten different results from what I suspect. But I really think we're starting to reach a saturation point. It's only natural that we do, this wave can't go on forever. That being said, given the demographic trends, I would think we are likely in a good position to start another wave sooner rather than later. Maybe then a project along the scale of CityPlace could work... but I just can't really see it right now (in the immediate future). Oh well, I hope I'm wrong.

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JRS1 Town

JRS1

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I don't know... isn't there 60k people moving into CFLA every year? If 1% bought downtown every year, that would be 600, right? Do the averages dictate that 1 out of every 100 of all new residents are prospects for new condos-- per year? Or is this too high an estimate? Maybe its 1/2%, or 300 people per year. Then add in all the international buyers-- I don't know the %.

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Magicfan95 Whistle-Stop

Magicfan95

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The problem lies in interest in the market. Downtown Orlando has now built and planned a lot more condos than the demand requires. Office space is starting to subside too.

I'll put my life savings down that this project does not go as planned. The fact that their website is offering no payments for 6 months and welcoming brokers speaks volumes.

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Dale City

Dale

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The problem lies in interest in the market. Downtown Orlando has now built and planned a lot more condos than the demand requires. Office space is starting to subside too.

I'll put my life savings down that this project does not go as planned. The fact that their website is offering no payments for 6 months and welcoming brokers speaks volumes.

How much do you have in the way of life savings ?

The amount will allow me to determine whether to suspend/sustain my skepticism of your skepticism. ;)

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JRS1 Town

JRS1

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lets not forget, when analyzing downtown condo sales and future trends, downtown isn't the only place in Orlando where new condos are being built. Just b/c a recent project doesn't get moving like we want doesn't mean there aren't new buyers buying. case in point:

1. Metro--Altamonte T.C.: those 2 new 13 and 16 story condos are to break ground this summer; Emerson Plaza 2 should also break ground soon. Also, Wellesley in College Park; and 4 or so Winter Park projects also U/C

2. I-Drive-- condotels abound-- The Point is doing sitework; Blue Rose is doing sales, and apparently converted some of those units to pure condo; Vista Cay and Imagine are also U/C; also, Dr. Phillips area off of Big Sand Lake.

3. Disney-- Reunion Grande, Blue Heron 2, Floridays 1-6, LBV Res. & Spa 3 are all U/C

Downtown is but one of many developing regions that has to compete for sales. If a project doesn't look like its going to happen downtown, there's probably one somewhere else that is.

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gumpking1 Whistle-Stop

gumpking1

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lets not forget, when analyzing downtown condo sales and future trends, downtown isn't the only place in Orlando where new condos are being built. Just b/c a recent project doesn't get moving like we want doesn't mean there aren't new buyers buying. case in point:

1. Metro--Altamonte T.C.: those 2 new 13 and 16 story condos are to break ground this summer; Emerson Plaza 2 should also break ground soon. Also, Wellesley in College Park; and 4 or so Winter Park projects also U/C

2. I-Drive-- condotels abound-- The Point is doing sitework; Blue Rose is doing sales, and apparently converted some of those units to pure condo; Vista Cay and Imagine are also U/C; also, Dr. Phillips area off of Big Sand Lake.

3. Disney-- Reunion Grande, Blue Heron 2, Floridays 1-6, LBV Res. & Spa 3 are all U/C

Downtown is but one of many developing regions that has to compete for sales. If a project doesn't look like its going to happen downtown, there's probably one somewhere else that is.

Ok enough guys.Do you all still believe tt wil get built.I hope so we need this one

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SMR17 Unincorporated Area

SMR17

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Ok enough guys.Do you all still believe tt wil get built.I hope so we need this one

Isn't this section of this forum made to discuss City Place? I also hope that TT gets built-I think it has a lot to offer downtown-but truthfully speaking I think CityPlace has a better chance to get built if they stay with the idea of 'affordable' units. Tradition towers - correct me if I'm wrong - is VERY pricey. CityPlace is SUPPOSED to be affordable. What's affordable to the sales agents I spoke with-I don't know-but the way they talk it seems to be below everything else. I agree with Sunshine's opinion-not saying I'd rather move to NY or Miami :P Isn't that what going to drive the project to be built-sales and the demand for lower more affordable priced units in downtown?

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