Builders' Breakfast Meeting Tuesday, April 9 Thomas Chatmon, Jr. Downtown Development Board Community Redevelopment Agency Orlando, Florida
What is a Community Redevelopment Agency (CRA)? A CRA is an effective tool to redevelop and transform targeted areas through activities and programs administered by a CRA Board resulting in economic growth and development. CRA funds may only be spent within district boundaries, on redevelopment activities included in The Redevelopment Plan
Downtown Orlando CRA
Downtown Orlando Consumer Marketing
ICSC May 20 th 23 rd Las Vegas 18 Business Leads More than 450 visitors to booth More than 50 meetings Over 31,000 attended
Downtown Clean Team Hardscape and landscape services 151 individual streetscaped blocks Arbor care for 1500 trees and palms Trash can maintenance Pressure washing of 119 streetscaped blocks Heritage Square landscape service Information Center More than 5,500 visitors yearly Over 2,700 are international visitors Interpreter Services 3-D Model of Downtown Historic Walking Tours Monthly
High Wage/High Value Job Creation Program On April 17, 2006, the CRA approved the High Wage/High Value Job Creation Program for the purpose of locating targeted industries and targeted headquarters with highvalue jobs to Downtown Orlando by leveraging available state and local economic development programs and providing location assistance for the purpose of accomplishing goals such as: diversifying the local economy, growing high-wage, high-value jobs; and growing targeted industries. The incentive is payable at $1,000 to $1,500 per job.
BBA Aviation BBA Aviation is expanding its corporate headquarters in Downtown Orlando. The company considered other Florida cities as well as Arizona, Washington, DC. Virginia and Ohio. The company will create: 100 new jobs by December 2014, paying an average annual wage of $76,298 (excluding benefits), which is 200% of the Orlando Metropolitan Statistical Area (MSA) average annual wage of $38,464 and will retain: 195 existing jobs. The average value of benefits that will be available to employees is $25,000. Entity Description Value State Qualified Target Industry (QTI) $ 760,000 City CRA Qualified Target Industry Local Match (QTI) High Wage/High Value Job Creation Program $ 190,000 $150,000 (payable over six (6) years consistent with QTI) City Parking Discount $85/133 spaces ($39,900 savings/year for 7 years) Total $1,379,300 (includes savings)
XOS Digital XOS is the leading provider of advanced digital media management and monetization solutions for sports organizations in the US. XOS Growth Currently co headquarter locations in Lake Mary, Florida and Wilmington, Massachusetts Relocating their corporate headquarters to Downtown Orlando Job Creation XOS will relocate 57 existing high value jobs from their Lake Mary location XOS will create 46 new high value jobs over three years Total of 103 new high value Downtown Orlando jobs at a minimum average rate of $60,832.
61 Mile, 17 stop Commuter Rail System 4 stops in Downtown Orlando $615 Million Project Phase 1 Complete 2014
In Progress $170 Million Private Investment $500 Million Public Investment $670 Million Total Investment
Men s Service Center With capital funding support from the City of Orlando and Orange County, the walls of the new Coalition for the Homeless Men's Service Center were recently put into place. Upon completion, the new residential facility will accommodate 250 men at any one time and will offer casemanaged services, mental health counseling referrals, life skills training in budgets and savings, job skills training, employment services and access to educational opportunities. O & M funding requested
Steel House Description: 4 story mid-rise apartment building 326 residential apartments 5 story 500 space parking garage Public park integrated with the Orlando urban trail Investment: $40 Million Location: NWC West Colonial Drive & North Orange Avenue Participants: Pollack Partners Contact: Pollack Partners 404.835.1475 In Progress Website: pollackpartners.com
Aloft Description: Former OUC headquarters 119 guest rooms Exterior bar and dinning area Investment: $20 million Location: 100 W Anderson St. Participants: GDC Properties, LLC. Contact: GDC Properties 407.478.7600 In Progress Website: GDCproperties.com
NORA Description: Luxury apartments 6 stories 246 residences 15,000 sqft retail Investment: $45 Million Location: 899 N Orange Avenue Participants: GDC Properties, LLC. Contact: GDC Properties 407.478.7600 In-Progress Website: GDCproperties.com
Sky House Apartments Description: Luxury apartments 320 residences 7,200 sqft Retail Investment: Location: $63 Million 90 E Livingston Participants: NGI Investments Contact: NGI Investments 404.575.4424 Website: Ngiinvestments.com In-Progress
Dr. Phillips Center for the Performing Arts Start: 2Q11 Completion: 4Q14 Investment: Total Project Cost $500 Million Dr. Phillips Center for the Performing Arts has raised over $94 Million in philanthropy. The CRA has invested $190 Million to the project. Participants: City of Orlando, Orange County, Community Redevelopment Agency, Dr. Phillips Center for the Performing Arts
$175 Million reconstruction Florida Citrus Proposals Bowl due 3/29/2013 Presentations by shortlisted proposers targeted for April 2013 City Council approval of rankings in May Decommissioning/demolition of existing lower and mid bowl to begin February 2014 Reconstruction, to be ready to host events by November 2014 Substantial completion target is Spring 2015 Final Completion target is October 2015 *All dates subject to change
Looking Forward
Creative Village Digital Media Cluster Office/Creative 900,000-1,000,000 sqft Education 300,000 500,000 sqft Residential 1,200 1,500 units Retail/Commerical 125,000 150,000 sqft Hotel 150 200 Rooms
Creative Village
Central Station Description: 5.64 acre site Phase One 280 multi-family units 125 hotel rooms Investment: 75 Million (Phase 1) Location: 400 N Orange Ave Participants: Rida Development Contact: Rida Development 407.397.2500 Website: www.ridadev.com Proposed
Central Station
The Sevens Description: 2.5 acre site 325 units 10,000 sqft retail Proposed Investment: Location: Participants: Contact: Website: $35 Million 777 North Orange Avenue Pizutti Development, Hunton Brady Architects Pizutti Development- 407.841.000, Hunton Brady Architects- 407.839.0886 pizzuti.com
Cambria Suites Description: Select service hotel development planned as a part of the Choice Hotel Cambria Suites portfolio fronting scenic Lake Eola. 7 stories 155 guest suites 3,300 sqft retail 100 parking spaces MPB Approval May 17 th, 2011 Investment: $20 Million Location: SWC Rosalind & Washingron Participants: Concord Eastridge, ACi Studios Contact: Concord Eastridge 877.850.5070 Proposed Website: concordeastridge.com
Ace Café Orlando The Ace Cafe London is a notable venue in motorcycle culture which originally operated from 1938 until 1969, then re-opened on the original site in 1997. The venue will open their first location in the United States and have chosen Downtown Orlando. Expected Opening Date - 4Q12
Public Art
Sculpture community project designed to enhance the aesthetic experience and cultural image of Downtown Orlando Arts and culture are responsible for 3,500 jobs in our community and generate nearly 100 million dollars in economic impact. SEE ART ORLANDO is part of our plan to grow that impact, said Mayor Dyer. A local, national and international call for artists resulted in more than 170 submissions.
CRA Development Incentives Return on Investment (ROI) Private Developments That Received Incentives Since 2003 $115 Million spent in CRA District over 20 years resulted in an increase of taxable value from $137 Million to $1.8 Billion ROI of 127%