Jones Lang LaSalle has been selected to oversee the marketing of select sites available for sale at Creative Village in downtown Orlando by the Creative Village Development (CVD). Creative village is a joint public-private partnership between the city of Orlando and CVD. The master development agreement allows for select parcels in the Creative Village to be marketed to third-party buyers in multiple phases. The first phase consists of three development sites within the 68-acre mixed-use project site, each designated for multifamily development featuring a minimum of 250 units. Also included in the first phase are an office building and additional office/commercial/multifamily/hotel space totaling several hundred thousand sqf. CVD is a joint venture between a local entity led by Ustler Development and Bank of America Community Development Corp.
Creative Village is designed to build upon the success of Orlando’s digital media industry. The project will redevelop the former Amway Arena site into a transit-oriented urban infill neighborhood. It will be home to the University of Central Florida’s downtown campus, expected to house an additional 7,700 students, and a number of high-tech digital media and creative companies.
“Creative Village was announced at or near the height of the recession. As a result, it has taken some time to properly align all of the tremendous resources that are now in place. That is a huge testament to the City of Orlando, CVD, Bank of America Development Corp. and UCF,” stated JLL Senior Vice President Aaron Gray. “Creative Village will see over $350 million of vertical development across five projects.”
