The Dallas-based developer that recently completed downtown Orlando's Modera Central luxury apartment tower has filed a Master Plan for a new Modera-branded project in Creative Village.
Mill Creek Residential Trust is planning a 10-story mixed-use building and parking garage with 292 apartments and approximately 11,000 square feet of ground-floor retail fronting on Amelia Street and Chatham Avenue, facing the Creative Village Central Park. The parking structure will comprise the most of the first three floors and will have 355 spaces, enough to accommodate the residents and retail users.
Mill Creek was selected as the developer for the 1.75-acre parcel known as "Parcel U" on the Creative Village Master Plan, and the developer entered a $5.5 million purchase contract with the city and master developer, Ustler Development, in April 2018. The company was the first third-party buyer approved by the city for Creative Village.
The developer also will be responsible for building new segments of Chatham Avenue to its west and Federal Street to its south.
The 68-acre Creative Village is an infill redevelopment project anchored by the new downtown campus for University of Central Florida and Valencia College, both set to open in August. Vertical construction is slated for completion this summer on the Creative Village campus' Phase 1 buildings, which include a 15-story student housing tower and UCF's five-story academic commons building.
The Creative Village Development Review Committee gave preliminary approval last November for the 2.5-acre park, which lies between the Mills Park project and the 14-story mixed-use tower being built by Ustler and The Allen Morris Company and scheduled for completion in 2020.
"We are currently doing design and construction drawings (for the park) with VHB," Craig Ustler told GrowthSpotter. "We should submit for the permit in a month or two and then be under construction some time later this year with the goal of finishing the park in 2019."
Atlantic Housing Partners expects to deliver the first phase of its 256-unit Amelia Court mixed-income housing at the northeast corner of Amelia and Parramore Avenue this year.
Mill Creek has developed more than 70 multifamily communities in the U.S., including about a dozen in Florida. This is the company's second project in the Orlando market.