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Sports facility company shoots for next location,Lake Nona

By   – Staff Writer, Journal

An Orlando-based sports facility operator has scored a new location in Central Florida as it gears up for another.

XL Soccer World expects to build a $7 million, 50,000-square-foot facility in and open it next summer, CEO Ciaran McArdle told Orlando Business Journal. The company operates about eight facilities in the U.S, including one at 825 Courtland St. near the intersection of Lee Road and Interstate 4. That facility opened in 2011.

McArdle, a Lake Nona resident, hopes to attract soccer players and fans from Lake Nona and surrounding communities such as Kissimmee and St. Cloud. “We’ve seen tremendous success and popularity with what we do.”

The new facility will feature four fields for indoor soccer and futsal, a different version of soccer, among other uses. The facility will spread across roughly four acres off Narcoossee Road less than one mile south of State Road 417. XL Soccer World’s Xl Soccer World Orlando II LLC bought the 3.8-acre site from Narcoossee Land Holding Two Inc. for $571,400 on Aug. 27, according to Orange County records.

XL Sports Group

A contractor is expected to be announced soon. The architect is Orlando-based Butler Moore Architects LLC. Subcontractor opportunities likely will be available. A groundbreaking is expected before the end of the year.

McArdle declined to say where XL Soccer World’s next Central Florida facility will be, but he said it likely will be built in northwest Orlando.

XL Soccer World is the latest in a string of new sports companies to open facilities in Lake Nona. The $100 million U.S. Tennis Association National Campus opened its 100-court facility in 2016, and Drive Shack (NYSE: DS) opened its $25 million concept this spring.

Earth Fare Grand Opening in Lake Nona

By   – Staff Writer, Journal
 Updated 

Earth Fare will open its first organic grocery store in the area at the end of this month.

The Fletcher, NC.-based chain will open its store Sept. 29 in the Shoppes at Nona Place at 13024 Narcoosee Road in . The 24,000-square-foot location will feature a juice bar as well as a prepared food section with a salad bar, hot foods bar, pizza station, sandwich counter and pre-packed meals.

“At Earth Fare, we are passionate about helping our shoppers make the connection between clean food and longer, healthier, happier lives,” Earth Fare President and CEO Frank Scorpiniti said in a prepared statement. “Since 1975, we’ve been proudly encouraging shoppers to make healthier food choices easy and enjoyable, and we take great pride in expanding our strong Florida presence to the Nona community.”

Earth Fare provides food on its shelves that are free of added hormones and other non-organic ingredients. It keeps a list of booted ingredients which are not allowed on its shelves .

The chain will hold its grand opening celebration Sept. 29 at 7 a.m. with a ribbon-cutting ceremony and a check presentation to Nemours Children’s Hospital. There will be a mystery gift card giveaway for the first 500 customers in line with values up to $1,000, along with other giveaways, free samples, and product demonstrations.

Orlando OKs conditional plan for $107M Creative Village apartment complex

The City Commission today helped move forward two pieces of the planned $1 billion, 68-acre, mixed-used Creative Village in downtown.

The commissioners voted unanimously during the Sept. 4 city council meeting to give conditional approval of a $107 million, 390-unit apartment complex. The Creative Village Design Review Committee still wants to review certain aspects of the apartment project such as the streetscape, parking, architecture, and appearance, before it gets full approval.

The commissioners also gave full approval for a 9,221-square-foot central cooling system building for the planned Downtown, a campus that will be shared by the University of Central Florida and  College The UCF energy plant building will include condenser water pumps and cooling towers located outside the building. The structure will be the only plant for the downtown campus.

The apartment complex is a joint venture between Orlando-based Ustler Development Inc. — whose related Creative Village Development LLC is the master developer of Creative Village — and Coral Gables-based apartment developer The Allen Morris Co. The project is slated for a 1.6-acre site on the southwest corner of Amelia Street and Terry Avenue, which is known as “parcel M,” according to city documents.

Creative Village is expected to attract 8,000 faculty, staff and students when UCF Downtown opens in fall 2019 — two to three times more people than initially anticipated, according to Ustler Development Inc. President Craig Ustler. The number of apartment units was increased from 250 in the previous plan to 390 in July due to that increased demand.

The apartment complex, which could open by mid-2020, will feature mostly studio and one-bedroom units, each with a washer and dryer. The ground floor has a 6,500-square-foot commercial space that may house a food and a social hall. The project also will include a 570-space parking garage, a public courtyard, and a beer garden, said Ustler.

  • Dallas-based Mill Creek Residential Trust plans to build an estimated $59 million-$90 million, 250- to 300-unit market-rate apartment complex on the east side of Central Park.
  • Ustler Development and Development Ventures Group Inc. are underway on a 15-story, $105 million student-housing project with 600 beds and 105,000 square feet of educational space leased to UCF and Valencia College.
  • Winter Park-based Atlantic Housing Partners LLLP is building the $60 million, 256-unit Amelia Court at Creative Village mixed-income community.

These projects add to the boom in apartment in the region. Orlando reported a 3.2 percent vacancy rate in the multifamily sector, which is among the lowest for Southeastern cities, according to the most recent report by Charlotte, N.C.-based Real Data Inc. There are more than 11,700 apartments in Central Florida’s construction pipeline, and roughly 30 percent of those units are being built in downtown Orlando.

The average monthly apartment rent for the central submarket, which includes downtown Orlando, is $1,499, up from $1,381 a year ago, Real Data reported. Occupancy rates are expected to remain higher than 95 percent over the next year, well above average among Southeastern cities, which should trigger even more rent growth, according to the report.

UCF Downtown also is expected to bring a major economic impact to the area. The campus is forecast to generate 2,000 jobs and a $205 million economic impact in the next few decades. “There’s a lot of different facets — certainly there’s the economic development aspect of growing our downtown and having the university campus there,” Orlando Mayor Buddy Dyer told Orlando Journal. “It’s good for UCF and the students who will have internships and be closer to businesses that are in their majors.”

CoreLogic Home Price Insights – July 2018

 

The CoreLogic Home Price Insights report features an interactive view of our Home Price Index product with analysis through July 2018 with Forecasts from August 2018 including live maps.

CoreLogic HPI™ is designed to provide an early indication of home price trends. The indexes are fully revised with each release and employ techniques to signal turning points sooner.

CoreLogic HPI Forecasts™ (with a thirty-year forecast horizon), project CoreLogic HPI levels for two tiers—Single-Family Combined (both Attached and Detached) and Single-Family Combined excluding distressed sales.

The report is published monthly with coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes home price indices (including distressed sale); home price forecast and market condition indicators. The data incorporates more than 40 years of repeat-sales transactions for analyzing home price trends.

July 2018 National Home Prices
Home prices nationwide, including distressed sales, increased year over year by 6.2 percent in July 2018 compared with July 2017 and increased month over month by 0.3 percent in July 2018 compared with June 2018 (revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results).

Forecast Prices Nationally
The CoreLogic HPI Forecast indicates that home prices will increase by 5.1 percent on a year-over-year basis from July 2018 to July 2019, and on month-over-month basis home prices are expected to decrease slightly by 0.2 from July 2018 to August 2018.

The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

The 25 highest-paying jobs in the U.S.

 

Tech jobs make up 13 of the 25 highest-paying jobs in America for 2018, up from 11 in 2017, according to a new ranking from the job and recruiting site Glassdoor.

There are five health-care jobs on this year’s ranking, down from six in 2017, Glassdoor said. The top three jobs are all in health care.

“The fact that employers are paying top dollar for many techs and healthcare jobs reinforces how demand for these valuable skill sets continues to outpace the supply of talent with these experts,” Amanda Stansell, economic research analyst for Glassdoor, said in a prepared statement. “We know that salary matters a lot to job seekers when determining where to work, but it should not be the only factor to consider.”

Eight job titles are new to the ranking this year, including nurse practitioner, which has the highest number of current job openings at 14,931 positions.

Scroll through the accompanying gallery to see the 25 highest-paying jobs for 2018.

For a job title to be considered for this list, it must receive at least 100 salary reports shared (with Glassdoor) by U.S.-based employees over the past year through June 30, according to the site. Glassdoor also applies a statistical algorithm to estimate annual median base pay in order to control for factors like location and seniority.

Salary information hub Payscale.com provided us with a list of the 25 top-paid positions in the U.S. technology sector.

From database architect to a principal product manager and many jobs in between, the data provided to us show the median pay for a variety of tech titles in the U.S.

The median (50th percentile) pay is the annual total cash compensation in the U.S. — half the people doing the job earn more than the median, and half earn less.

The information shows the highest paid individual contributor, or non-management, roles in the technology sector.

Orlando Developer Starts plans for Large Development

 

 

Unicorp ’s most prominent developer is pursuing its latest $200 million projects in an area that’s heating up for retail developers — and that represents a major shift in the market.

That’s according to Jorge Rodriguez, executive managing director at Colliers International Central , who is representing Orlando-based Unicorp National Developments Inc. in the purchase of a roughly 150-acre site in Daytona Beach’s fast-developing area of Interstate 95 and LPGA Boulevard.

“[Historically], all the retail was along International Speedway Boulevard,” Rodriguez said. “What’s happening is Daytona’s gotten to the point where there’s no more land to be developed there … It’s jumped north to LPGA and I-95.”

New projects in that area likely will be more attractive to consumers, added John Albright, president, and CEO of Consolidated-Tomoka Land Co. (NYSE: CTO), Daytona Beach’s largest landowner and soon-to-be seller of the site Unicorp has under contract.

In fact, developers have been buying up chunks of land from Consolidated-Tomoka for years, creating a massive economic impact for the community. The largest land sale was to Minto Communities, which partnered with Margaritaville HoldingsInc. to build the $1 billion Jimmy Buffett-themed Latitude Margaritaville — a massive active-adult, the mixed-use community now under .

Additionally, the $91 million, 350,000-square-foot Tanger Outlets opened in 2016, and North American Development Group is anticipating a fall opening of its estimated $80 million, 400,000-square-foot Tomoka Town Center featuring T.J. Maxx, Hobby Lobby, Academy Sports + Outdoors and more.

Since 2011, Consolidated-Tomoka’s land sales in this area have resulted in $1.5 billion in total capital investment in Daytona Beach, adding more than 3,500 jobs, according to company documents.

“You have a large influx of new population, and a great regional draw as far as the interstate and LPGA [Boulevard],” Albright said. “It’s all coming together.”

Meanwhile, Unicorp plans to start construction on its new project in first-quarter 2019. The first 23-acre phase, dubbed Shoppes at Williamson Crossing, will feature about 100,000 square feet of un-anchored shops and restaurants. No tenants have been signed, but Unicorp President Chuck Whittall said his company is in talks with about 30 potential tenants.

Sales of previously owned US Homes update

US HOME SALES DROP TO 2 YEAR LOW
Sales of previously owned U.S. unexpectedly slumped for a fourth month to the weakest in more than two years, signaling higher prices and tight supplies continue to squeeze demand, a National Association of Realtors report showed Wednesday.
HIGHLIGHTS OF EXISTING-HOME SALES (JULY)
• Contract closings fell 0.7% m/m to a 5.34m annual rate (est. 5.4m), the slowest pace since Feb. 2016, after unrevised 5.38m
• Median sales price increased 4.5% y/y to $269,600
• Inventory of available properties unchanged y/y at 1.92mKey Takeaways
The report adds to other recent signs of cooling in real estate markets. Prospective home buyers are increasingly discouraged by rising borrowing costs and property-price increases that are outpacing wage growth. The share of Americans who say it’s a good time to buy a home fell in August to 63 percent, the smallest since 2008, the University of Michigan consumer sentiment survey showed on Friday.

Continuing declines in purchases of single-family homes and cheaper properties suggest that the market is being supported by an increasing concentration of activity among those with higher income and financial assets.

The slump was led by an 8.3 percent decline in the Northeast, while the South and Midwest also decreased. Sales rose in the West.

Official’s Views
The decline in sales “has been a slow drip, and the is the same story, where we’re lacking inventory,” Lawrence Yun, NAR’s chief economist, said at a press briefing accompanying the report.

Other Details
• At the current pace, it would take 4.3 months to sell the homes on the market, unchanged from the prior month; Realtors group considers less than five months’ supply consistent with a tight market
• Single-family home sales fell 0.2 percent to an annual rate of 4.75 million
• Purchases of condominium and co-op units dropped 4.8 percent to a 590,000 pace
• First-time buyers made up 32 percent of all sales, compared with 31 percent in the prior month
• Homes were on the market for an average 27 days, compared with 26 days in June
• 55 percent of homes sold in July were on market for less than a month, NAR said
• Existing home sales account for 90 percent of the market and are calculated when a contract closes; new home sales, considered a timelier indicator though their share is only about 10 percent, are tabulated when contracts get signed

BY: Jeff Kearns and Katia Dmitrieva

Lake Nona global biotech firm to build facility, create 300+ high-wage jobs

City Council approved a nearly $380,000 incentive deal Aug. 20 for a Biotech and biopharmaceutical firm to build a major manufacturing plant in .

Cranbury, N.J.-based Amicus Therapeutics Inc. (Nasdaq: FOLD) wants to build a 190,690-square-foot facility — its first biologic drug substance manufacturing plant with associated research and development in Lake Nona. The company will create 316 jobs in Orlando by Dec. 31, 2024. The jobs will pay an average annual wage of $69,670.

Amicus’s total capital investment is $148.85 million to $180 million in and equipment, according to Orlando city council documents. Under ‘s Qualified Target Industry program, the state will provide a total of $1.9 million to Amicus. Orlando will provide 20 percent of the full amount over an eight-year period.

However, the project is not a done deal, yet. In addition to Orlando, the company is considering other states for this project, but the incentives help sweeten the pot for Amicus to choose this area. Orange County also may kick in funding for the project and will decide whether or not to today, Aug. 21, during its commissioners’ meeting.

District 1 City Commissioner Jim Gray agreed that getting Amicus would be a good move for the city. “We are thrilled to welcome Amicus to the southeast part of town,” Gray said during the Aug. 20 city council meeting. “This is exactly what we are trying to attract — an established company with a great reputation bringing some talented smart people and paying them a lot to do their job.”

Tavistock Development Co.’s Lake Nona is a fast-growing southeast Orlando community that already employs about 5,000 people in its 650-acre life sciences hub. Lake Nona notched the No. 15 spot among the nation’s top-selling master-planned communities with 523 home sales in 2017, John Burns Real Estate Consulting reported.

In addition, Lake Nona’s daytime population continues to grow with its Medical City life sciences hub and future developments such as New York-based audit giant KPMG LLP’s $430 million, 55-acre training facility being built on Lake Nona Boulevard. The community already boasts more than 11,000 residents, 5,000 employees and more than 11,000 students at its schools.

Planned $40M Oviedo ‘medical city’ delays groundbreaking.

A planned “medical city” project in by Adventus Oviedo that was set to break ground this summer now has to wait a few more months.

Winter Springs-based Aventus Health LLC, an owner of labs, pharmacies, and medical facilities, originally planned to break ground this summer on a $40 million, a 150,000-square-foot project called Aventus MedCi. The project, which will be built directly behind the Oviedo on the Park mixed-use development on about 7 acres on the west side of Oviedo Boulevard, needs to get more permits before the official groundbreaking, according to a statement issued by CEO Oliver Dawoud to OBJ.

The firm will apply for those remaining permits by the end of September. Aventus previously secured a vertical construction permit from the city of Oviedo in early April and had received conditional approval six months before that.

The goal is to have the official groundbreaking in late November, with the completion date being set once the groundbreaking is finalized. Previous estimates set the project as a two-year undertaking.

Aventus MedCi’s first phase will feature a 60,000-square-foot medical building and a 31,000-square-foot, 1.5-level parking garage. Phase 2 will add a 40,000-square-foot medical building and another 3.5 levels to the parking garage, according to city documents. Besides Adventus’s administration offices and the health care team, the building also will house an urgent care clinic, a surgery center, a clinical research center, advanced diagnostic imaging, a pharmacy and a laboratory.

Winter Springs-based American Civil Engineering Co. is the project engineer/consultant, Atlanta-based ASD | SKY is the architect and Charles Perry Partners Inc. of Gainesville is the general contractor.

The project previously was hailed as a major economic driver for the area. It is estimated to create more than 500-600 jobs upon completion and help the city overcome its reputation as just being a residential area, according to Oviedo Mayor Dominic Persampiere.

Other medical growth also is headed to the area. For example,  Hospital announced plans to build a freestanding emergency room in Oviedo set to break ground in October. That project has an estimated completed date of third-quarter 2019.

By   – Staff Writer, Orlando Business Journal

Cinépolis USA will open a nine-screen, 40,000-square-foot cinema in 2020 in the town center

 

 

Theatre

A Dallas-based cinema has pressed play on a new theater in the $780 million Town Center, one of the biggest developments underway in southeast .

Cinépolis USA will open a nine-screen, 40,000-square-foot cinema in 2020 in the town center, according to Tavistock Development Co. LLC. Orlando-based  currently is working on the town center’s $300 million second phase.

It’s the second Cinépolis in Central after the company opened a theater in Winter Garden earlier this month.

Ticket prices typically range from $10-$18 for adults and $8-$14 for children.

Outside of Cinépolis, Lake Nona Town Center’s second phase also will feature a brewery, comedy club and live performance venue, bowling concept, a 215-room luxury hotel and more than 80 restaurants and shops.

“Cinépolis is the entertainment centerpiece for the next phase of the Lake Nona Town Center,” Jim Zboril, president of Tavistock Development Co., said in a prepared statement. “The theater experience is exceptional and epitomizes the quality guests can expect when visiting the town center.

About 37 major retailers are interested in opening shops inside the development. Those retailers range from American Eagle Outfitters (NYSE: AEO) to Dick’s Sporting Goods (NYSE: DKS). Tavistock hasn’t confirmed any of the potential retailers as tenants.

Retail interest in Lake Nona shouldn’t be a surprise since population growth — as evidenced by home sales — drives retail. Lake Nona notched the No. 15 spot among the nation’s top-selling master-planned communities with 523 home sales in 2017, John Burns Real Estate Consulting reported.

In addition, Lake Nona’s daytime population continues to grow with its 650-acre life sciences hub and future developments such as New York-based audit giant KPMG LLP’s $430 million, 55-acre training facility being built on Lake Nona Boulevard, and the teaching hospital being built by University of Central Florida-Hospital Corp. of America (NYSE: HCA).

Residents in Lake Nona often have higher wages and live in pricier than the average Orlando resident. Lake Nona household income was $143,500 in 2017, nearly three times Orange County’s average household income of $49,391, according to Orange County Property Appraiser Rick Singh. And that is attractive to major retailers.

“The market as a whole in Lake Nona has only gotten better and continues to get better,” retail expert Jorge Rodriguez, executive managing director in Central Florida of Colliers International