The Creative Village builds on the success of Orlando’s digital media industry by transforming the former site of the Amway Arena in Downtown Orlando into a 68-acre mixed-use, transit oriented, urban infill neighborhood that will be home to leading higher education providers; high-tech, digital media and creative companies; and a diverse mix of students, employees and residents. Creative Village fosters a “live, work, learn and play” lifestyle in the heart of Downtown Orlando while bringing exciting opportunities to the Parramore area.
Creative Village is a public/private partnership between the City of Orlando and the Master Developer, Creative Village Development, LLC (CVD): a joint venture between Banc of America Community Development Corporation (BACDC) and a local team led by Ustler Development, Inc.
>> Under the leadership of Orlando Mayor Buddy Dyer, the City of Orlando conceived the original idea for the Creative Village in Downtown Orlando and is the landowner.
>> BACDC is a for profit, wholly owned subsidiary of Bank of America dedicated to the urban revitalization of cities throughout our nation, and is focused on the creation and preservation of affordable housing. BACDC is a leader in public/private partnerships specializing in master development of mixed-use communities and neighborhood reinvestment through the development of sustainable multifamily and senior housing.
>> The local development team, led by Ustler Development, Inc., knows the Downtown Orlando market and has an extensive track record in urban infill projects, documented success with neighborhood mixed-use projects and unparalled local connections.
When complete, this high quality, sustainable neighborhood development will support a diverse and dynamic mix of uses including up to 1,200,000 square feet of office/creative space, over 500,000 square feet of education space, 1,500 residential units, 150,000 square feet of retail/commercial space, and 225 hotel rooms.
Creative Village is centered around education and transit, including SunRail. It will be the largest transit oriented development project in Central Florida, significantly expanding the presence of major universities in Downtown Orlando (i.e., UCF and Valencia). Creative Village will showcase best practices in responsible development and will be the largest LEED-ND development in Florida.
The Amway Arena demolition and recycling are complete. Next, construction will begin on the neighborhood street grid as part of the first phase of ground-level improvements. Road and utility work will begin on site in late 2014 to accommodate the expansion of the LYNX LYMMO bus circulator system. Vertical development is anticipated to begin in 2015 or 2016. Full build out is expected to take 15-20 years.
Environmentally responsible demolition practices are leading the way. The Amway Arena was demolished to accommodate the Creative Village, and the resulting debris was recycled and/or sorted for reuse, including approximately 94,000,000 pounds of concrete and an estimated 13,000,000 pounds of steel. Over 98% of the material was recycled, repurposed or stored for future use in the Creative Village infrastructure.
The job creation study for the Creative Village estimates an additional 6,500 jobs in the local economy during the construction period. At build out, there will be close to 5,000 permanent jobs, with more than 8,000 total Creative Village related jobs in the local economy. At build out, Creative Village represents $800 million-$1 billion in new development.
Almost $20 million has already been secured for Phase I infrastructure, including federal grants and CVD equity investment. The majority of this work is being funded by a Transportation Investment Generating Economic Recovery II (TIGER II) grant. The Creative Village TIGER II grant award represents an important vote of confidence in the project from the federal government.
Proximity to SunRail and LYNX Central Station will provide Creative Village and Parramore with improved regional access to jobs, education, social services, government facilities, entertainment, civic and cultural assets and many other opportunities. Creative Village development plans also involve the expansion of the LYNX LYMMO bus circulator system which will serve Creative Village, Parramore and the west side of Downtown Orlando, with service expected to begin in late 2015.