Premium Downtown Orlando Location 500 N. Orange, Orlando, FL 32801 Orange County Courthouse Bank of America 279 Apts. + Retail on 2.02 acres Orlando Sentinel Proposed Mega-Development 2.25 Acres
Large Site with Desirable Dimensions Perfect for Redevelopment 2.25 Acres Crescent Central Station 279 Apartments + 12K SF Retail on 2.02 Acres
Table of Contents Section Project Sponsor/Team Location Survey Special arranty Deed 1 2 3 4 5
Project Profile Site: Project: Zoning: Main & Main: The site is a 2.25 acre strategically located parcel at 500 N. Orange Avenue in Orlando at the corner of Amelia Blvd. The project will entail demolishing the eisting 118,000 Sq. Ft. office building, currently located on the site, and then constructing a 398 unit Residential rap project. The property is currently zoned AC-3A/T (Activity Center / Town Center). The City of Orlando is etremely supportive of high density development at the Subject Site. The underlying zoning permits high density multifamily residential. Mied use development of the site is encouraged by the Density of Intensity Bonus of the City of Orlando. Blending a miture of uses at the property can result in an increase from 200 units per acre to 400 units per acre. The site permits construction to a maimum height of 400 feet. Based on the current zoning and site size, the property could yield up to 900 units. The North Orange and Amelia intersection connects the financial district of the south CBD, Uptown to the north, and the newly proposed Creative Village (University of Central Florida) to the west. It is at the crossroads of all the major development projects that have occurred and are proposed to occur in the future. Due to its unique geographic location and the continuing demand for residential units, the property is ideally suited for a high density multifamily project. TOD: Due to the sites strategic location within 400 feet of the recently constructed Lyn Central Station, this project is considered a Transportation Oriented Development (TOD).
Sponsor/Team Profile Company: Development Eperience: Current Holdings: General Contractor: Architect: Property Management: est Second Street Associates (SSA) is a Flint Michigan based company specializing in investment, development and management of office, multifamily, and government office. The principals of SSA have managed construction and development projects totaling over 200M and have special epertise in building and repositioning urban infill properties. 1,462 unit multifamily portfolio in Houston, TX 15 Government (GSA) Leased Properties 18-Story repositioned office building in Birmingham Alabama 2 mied-use buildings in Ann Arbor, MI e have yet to select a General Contractor but we have conducted preliminary interviews with Brasfield & Gorrie and interpark Construction. e are in the process of interviewing firms. SSA intends to outsource the property management of the project after completion to a best in class property manager with relevant and strategic eperience in the downtown Orlando market. Discussions and interviews have already begun with Greystar and Lincoln.
Location Profile Downtown Orlando: Downtown Orlando is currently undergoing eplosive growth evidenced by the attached project map. Some of the most notable planned projects include: Creative Village: Spearheaded by the University of Central Florida, this project is located.2 miles west on Amelia. It is planned to include; 1M sf of office/creative space, 500,000 sf of higher education space, 25,000 sf of K-12 space, 1,500 residential units, 150,000 sf of retail space, 200 hotel rooms and multiple public parks and civic spaces. Multifamily Growth: The CBD has spawned many etremely successful multifamily projects, and there are many others in the pipeline, including; Complete Skyhouse 320 Units The Sevens 316 Units Steel House 326 Units Artisan 299 Units Crescent Station 279 Units Nora 246 Units Pending CitiTower 233 Units Eola Park 328 Units University Club 345 Units 520 Church 510 Units Cascades 219 Units Orlando Central 450 Units Monarch 270 Units Lyn Central Station: The recently constructed Downtown Orlando Lyn Rail/Bus Terminal is located within 400 Feet of the subject site. This is the main downtown stop for the new Florida SunRail line. SunRail is a 61-mile, 17-stop commuter rail system connecting the cities of Orlando, Volusia, Seminole, Orange, and Osceola Counties. Adjacent Properties: South: Immediately to the south of the subject site is the transportation oriented development (TOD) known as Crescent Central Station. Crescent Central Station is a mied-use development containing 279 apartment units, 14,680 sf of retail, and a seven story parking structure on 2.02 acres. Future phases call for a 125-room select service hotel, two office buildings with 260,000 sf of space and an adjoining parking deck. Southeast: On the southeast corner of the North Orange and Amelia intersection is the Orange County Courthouse Comple. The property includes a 23-story courthouse tower, two five-story office buildings for the State Attorney and Public Defender, and a 1,500 car parking facility. East: The Orlando Sentinel owns 2 blocks of property immediately east of the Subject Site. The Owners of the Sentinel Property recently approached the City of Orlando with a conceptual development plan depicting 746 apartments, 144 hotel rooms, 280,000 sf of office space, 56,000 sf of retail, and (2) parking garages containing 2,075 parking spaces.
30.0' OU OU 42.1' UPB 42.1' 196.0' 184.2' 30 0 Legend ALTA - denotes American Land Title Association ACSM - denotes American Congress on Surveying and Mapping R/ - denotes right of way P.B. - denotes Plat Book O.R. - Official Records Book Pg. EPB UPB - denotes Page OUC - denotes Orlando Utilities Commission (M) - denotes measured dimension (P) - denotes plat dimensions C.B.S. - denotes block structure H V Y D ET E TSB Interstate Hwy 4 GRAPHIC Colonial Drive Concord St. Amelia Site 15 St. N S ( IN FEET ) 1 inch = 30 ft. - denotes water valve - denotes fire hydrant - denotes water meter - denotes back flow valve - denotes electric transformer on pad - denotes underground electrical pullbo - denotes underground utility pullbo - denotes electrical bo (above or under ground) - denotes aboveground traffic signal control bo - denotes light pole Orange Ave. Livingston St. SCALE 30 E Magnolia Ave. Vicinity Map Not to Scale 60 est line of Lot 35 Lot 34 Northwest corner of Lot 43 2" iron pipe no identification fence corner is 0.5 east est line of Lots 36, 39, 40 & 43 edge of pavement Lot 37 Lot 38 Lot 41 est line of the East 60' of the est 110' of Lot 35 N 00 43'31" 400.00' 10.4' 1' wide slab asphalt pavement asphalt pavement edge of pavement 100' (P) 100' (P) 100' (P) 0.6' R/ 50.88' (M) 100' (P) asphalt pavement edge of pavement no identification fence corner is 0.5 east S 89 49'37" E 50.53' (M) 32.1' 32.1' gate and ramp 9.1' EPB 1" iron pipe One N 00 31'37" 100.17' (M) E Story C.B.S. OUC Underground Easement per O.R. 3022, Page 702 access OU OU driveway gate ET fuel tank electric generator asphalt parking lot and driveway cut-out in pavement Concord Avenue 60' Public R/ S 89 49'37" E 60.00' S C sidewalk electric meter etends 0.7' from building asphalt parking lot and driveway asphalt road landscaped island 11.6' 7.8' OU E S 00 31'37" E 100.17' (M) Lot 36 Lot 39 30.0' Lot 40 R/ 0.05' between Firestone building and property line North line of Lot 35 and South R/ line East 60' of the est 110' of Lot 35 Subject to Oral Agreement with Firestone Tire permitting parking on this area. East line of the East 60' of the est 110' of Lot 35 0.26' between Firestone building and property line 0.43' between building and property line metal building 119.1' 107.5' 200.00' (M) Firestone Building (now a night club) S 89 49'37" E 120.14' (M) grass asphalt parking lot Five Story Commercial Building East line of Lot 35 0.50' between Firestone building and property line edge of pavement 5' high wall brick pavers 5.6' 5.6' 8.2' entrance 22.2' landscaped area landscaped area flag pole 21.3' 10.0' R/ 100' (P) 100' (P) N 00 37'17" 399.90' (M) 10.0' sidewalk 100' (P) sidewalk D D 100' (P) 40.0' 2' est R/ line 2' Northeast corner of Lot 43 East line of Lots 36, 39, 40 & 43 LESS R/ for Orange Ave. (East 10' of Lots 36, 39, 40 & 43) North Orange Avenue C 60' Public R/ ALTA/ACSM Land Title Survey of 500 North Orange Avenue, Orlando, Florida Property Description The East 60 feet of the est 110 feet of Lot 35, all of Lots 36, 39, 40, and 43 less right-of-way of Orange Avenue, JAMES M. ILCOX ADDITION TO THE TON OF ORLANDO, according to the map or plat thereof as recorded in Plat Book C, Page 64, Public Records of Orange County, Florida. Contains 2.252 acres, more or less. Surveyor's Report 1. Bearings shown hereon are based on the west right of way line of North Orange Avenue being assumed as North 00 37'17" est. 2. This survey was performed with the benefit of a commitment for title insurance by Old Republic National Title Insurance Company, Fund File Number 07-2012-005666, dated January 2, 2013. Benchmark Surveying and Mapping, LLC has relied on said commitment and has not searched the public records for easements or restrictions of record. 3. The aboveground visible features, on the subject property and 5 feet outside of the boundary lines, are shown hereon. Landscaped areas and trees are not shown. 4. The feature symbols in the legend and on this survey may not be drawn to scale. 5. This survey meets the Minimum Technical Standards set forth in Florida Administrative Code Rule 5J-17, pursuant to Florida Statute Chapter 472. 6. This Survey is not valid without the signature and original raised seal of a Florida licensed surveyor and mapper. Title Eception Notes 4. All matters contained on the Plat of JAMES M. ILCOX ADDITION TO THE TON OF ORLANDO, as recorded in Plat Book C, Page 64, Public Records of Orange County, Florida. (applies to subject property) 5. Declaration of Restrictive Covenant recorded in O.R. Book 10419, Page 2323, Public Records of Orange County, Florida. (applies to subject property) 6. Overhead and Underground Easement recorded in O.R. Book 3022, Page 702, Public Records of Orange County, Florida. (applies to subject property and shown hereon) 7. City of Orlando Downtown Development of Regional Impact Development Order recorded in O.R. Book 4362, Page 3368, as amended in O.R. Book 4823, Page 1341 and O.R. Book 6114, Page 4473, Notice of Recordation of Omitted Ehibit recorded in O.R. Book 5157, Page 1002, Public Records of Orange County, Florida. (subject property lies within the land area described in said documents) 8. Consent Decree recorded in O.R. Book 4965, Page 2158, Public Records of Orange County, Florida. (subject property lies within the land area described in said document) 9. This policy does not insure against loss or damage by reason of the following eceptions: Any rights, easements, interest or claims which may eist by reason of, or reflected by, the following facts shown on the survey prepared by Prescott & Associates, Inc., dated January 20, 1978: a. Encroachment of Electric Meter (.5 ft) onto est side of Lot 43; b. Encroachment of chain link fence lying est of lots 40 and 43; c. Overhead power lines over lots 40 and 43; d. Encroachment of electric meter (.63 ft) and telephone junction bo (.15 ft) onto East side of East 60 feet of est 110 feet of Lot 35 from Firestone Tire Building. (survey document was not provided) 10. Unrecorded Lease dated March 16, 1976 between Orange Avenue Properties, Inc. and Sara-Holy Company as Lessors and Nicholas Alley of Florida, Inc. as Lessee. 11. Oral agreement with Firestone Tire permitting parking on the East 60 feet of the est 110 feet of Lot 35, James M. ilco Addition to the Town of Orlando recorded in Plat Book C, Page 64, Public Records of Orange County, Florida. (shown hereon) Benchmark Surveying & Mapping, LLC Certificate of Authorization Number - LB-7874 Post Office Bo 771065, inter Garden, Florida 34777-1065 3110 Red Fo Run, Kissimmee, Florida 34746 ALTA/ACSM Land Title Survey of 500 North Orange Avenue, Orlando, Orange County, Florida (407) 654-6183 - www. benchmarksurveyingandmapping.com Date Revision Block Building OU T D S - denotes utility pole - denotes overhead utility line - denotes telephone riser bo - denotes traffic sign - denotes storm drainage inlet - denotes storm sewer manhole - denotes sanitary manhole - denotes clean out for sanitary line - denotes monitoring well lid - denotes 6' high chain link fence with barbwire - denotes 6' metal rail fence - denotes set 5/8" iron rod or nail and disk stamped 'PSM 5205', unless otherwise noted - denotes recovered 4" 4" monument, no identification - denotes recovered 1" iron pipe with no identification Lot 42 OUC Aboveground Easement per O.R. 3022, Page 702 Southwest corner of Lot 43 south end of fence is 2.4' north and 0.5' east R/ 100' (P) ET sidewalk 2' asphalt pavement driveway gate 30.0' access grass Lot 43 OU OU OU 229.95' S 89 50'57" E 239.92' Amelia Avenue 60' Public R/ C asphalt road (P) cut-out in pavement asphalt pavement sidewalk South line of Lot 43 and North R/ line 74.4' E D TSB 2' 100' (P) V brick pavers 10.0' 40.0' Southeast corner of Lot 43 List of Apparent Use Apparent use, along the north property line and northeast corner, by utility companies to provide power and other utilities to the Firestone building through overhead utility lines and electric meter bo attached to the west side of the Firestone building as shown. Surveyor's Certification To BellSouth Telecommunications, LLC a Georgia limited liability company, d/b/a AT&T Florida, Old Republic National Title Insurance Company Leslie A. Lewis, Esq. and Robert A. Yeager: This is to certify that this map or plat and the survey on which it is based were made in accordance with the 2011 Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys, jointly established and adopted by ALTA and NSPS, and include Items 4, 7(a), 8, 20(a) and 22 of Table A thereof. The field work was completed on January 31, 2013. 890.01 July 2, 2012 Project Number Original Field Date 1" = 30' 89/22 Scale Field Book/Page Billy Joe Jenkins, Jr. Florida Registered Land Surveyor Number 5205 Sheet 1 of 1
2.25 Acres For more information please contact: John Pavone 810-813-0533 jpavone@wssallc.com Troy Farah 810-691-9041 tfarah@wssallc.com Disclaimer: This document is for discussion purposes only. It is not intended to be construed as an offer to sell, transfer, partner with, joint venture, or otherwise develop a relationship with any party that gains possession of it. This document is for informational purposes only.