JLL has been retained by Creative Village Development, LLC (CVD) to oversee the marketing of select sites available for sale at Creative Village. Pursuant to the Master Development Agreement, select parcels will be marketed to third-party buyers in multiple phases. The first phase consists of three development sites programmed for multifamily, office, commercial and/or mixed-use development. The brokerage team leading the marketing effort is comprised of JLL Senior Vice President Aaron Gray and JLL Vice President Bret Felberg of the Orlando office.
As part of the initial phase and in conjunction with the first phase of UCF Downtown, private development includes a 600-bed, $105 million student housing project by Ustler Development, Inc. (Ustler) with KUD International, LLC as joint venture partner and a 250-unit market-rate apartment project by Ustler and a joint venture partner valued at $75 million. Additional private development includes a 116-unit, $56 million mixed-income housing project by Banc of America Community Development Corporation (BACDC) and Atlantic Housing Partners. Adjacent development includes the $40 million renovation of the former Sheraton Hotel and a new $60 million PS-8 Orange County Public School serving the Parramore community.