The Grove Resort & Water Park is one of Central Florida’s many vacation spots, just six miles away from Walt Disney World Resort. Now, an expansion’s underway, offering 160 vacation units, per the West Orange Times. The venture’s website calls the expansion: “The best of both worlds in vacation home ownership.”
An obstruction evaluation study is currently underway at the Federal Aviation Administration (FAA) for a 454-foot-tall skyscraper at 1000 North Orange Avenue in the northern section of Downtown Orlando’s Central Business District. The four coordinates submitted to the FAA align with a vacant 1.474-acre site that sits on the southwest frontage of the intersection between North Orange Avenue and North Garland Avenue, also bound by West Marks Street and SunRail tracks on the south end of the block. According to the Orange County property records, the land is owned by a Hallandale Beach-based entity registered as Mustang Orange Garland LLC (Mustang) managed by Aaron Churba and Mike Daiagi. The entity, which is linked to a number of other financial and investment entities using the Mustang moniker, has owned the property since January 2005 after purchasing it from Orange Garland Realty Ent LLC for a $3,000,000.
YIMBY recently checked in on the progress of a 9-story office tower and parking garage under construction at The City Center in O-Town West, a mixed-use community located in Orlando’s southwest corridor between the Walt Disney and Universal Orlando markets fronting Interstate-4. Designed and engineered by Apopka-based Finfrock, who is also the precast concrete manufacturer & installer and the general contractor, and developed by Orlando-based Unicorp National Developments, the new tower will yield 350,000 square feet of Class-A office space fit for over 1600 daily employees, and will become the new headquarters for Marriott Vacations Worldwide Corp. The 7.127-acre City Center development site, addressed as 7800 Palm Parkway according to property records, is located at the crossing between Daryl Carter Parkway and Palm Parkway, and will additionally yield a 160-key Zen Hotel, nearly 23,000 square feet of commercial space and a parking structure for over 2000 vehicles.
Park Partners Residential, owner and operator of value-add and luxury multifamily apartment communities, and Independencia Asset Management have completed the $77,750,000 acquisition of The Commons, a multifamily residential community addressed as 8050 Gables Commons Drive in Orlando. The 19.28-acre property is located south of Little Lake Bryan Parkway and is east of Vineland Avenue and Interstate-4, just minutes away from Orlando Vineland Premium Outlets. Los Angeles-based Ares Management provided the funds for the purchase, which was brokered by Jubeen Vaghefi, Denny St. Romain and Charles Crapse of Cushman Wakefield. The newly formed joint venture between Park Partners Residential and Independencia Asset Management received a $58.5 million construction loan from American Real Estate Capital to fund an extensive renovation of the property’s 280 units, clubhouse and amenity spaces.
Construction is nearing the final floors on phase one of Society Orlando, a two-towered mixed-use development of 26 and 16 stories at 434 North Orange Avenue in the Central Business District of Downtown Orlando. The project is designed by Orlando’s very own Baker Barrios and is being developed by national real estate developer Property Markets Group (PMG) alongside New York City-based investment firm Raven Capital Management. John Moriarty & Associates is managing the development’s construction, which will ultimately yield 707 residential units between both towers and 36,000 square feet of ground floor commercial space. The first phase of construction is comprised of the taller, approximately 350-foot-tall tower rising along West Livingston Street with 462 units.
