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Modera Central developer to build apartments in Creative Village

Modera Central developer to build apartments in Creative Village
The same Dallas-based firm that built Modera Central in downtown Orlando has filed a master plan for a second Modera-branded complex in Creative Village. The west elevation (top) shows the ground-floor retail uses facing Creative Village Central Park. (WDG Architecture)

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.

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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.

Modera Creative Village (1) is the latest residential project planned for Creative Village. The new 10-story mixed-use tower would face Amelia Street to the north and the new Central Park (2) to the west. Ustler Development is the developer or co-developer of the mixed-use tower (3) west of the park and the student housing tower (4). Amelia Court (5) is mixed-income housing at the corner of Amelia and Parramore.
Modera Creative Village (1) is the latest residential project planned for Creative Village. The new 10-story mixed-use tower would face Amelia Street to the north and the new Central Park (2) to the west. Ustler Development is the developer or co-developer of the mixed-use tower (3) west of the park and the student housing tower (4). Amelia Court (5) is mixed-income housing at the corner of Amelia and Parramore. (Creative Village Development)

The building is designed by WDG Architecture with planning services provided by Kimley-Horn. The conceptual plan would require the developer to abandon the existing segment of Ronald Blocker Avenue and rebuild it between the new apartment building and the Centroplex II parking garage to the east.

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.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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