Orlando – Orlando developer Craig Ustler announced May 7 that the Creative Village project would break ground May 14.
The $1 billion project is reported to cover 68 acres, and Ustler talked about the first phase that would focus on building up the infrastructure for the project, the Orlando Business Journal reported. Ustler made this announcement at a Seminole Tech event on May 6.
Ustler said that $13 million would be spent constructing and fixing roads, sidewalks, bus routes, street lighting and other infrastructure work.
It was announced back in March that a $43.3M pre-K to eighth grade school signed a contractor. Orange County Public Schools board announced that Orlando-based Williams Co. would be the vernal contractor for the new school project, and construction was expected to star January 2016. School board documents showed the new relief school was set to be built on the corner of Parramore Avenue and Amelia Street.
One of the big expansions that will take place during Phase One of the Creative Village construction is figuring out how to expand the Lymmo bus routes out west past I-4.
The University of Central Florida also recently announced its proposed plans to establish a Downtown satellite campus, which would be housed in Creative Village. Despite still needing Florida Legislature’s stamp of approval for the budget, UCF President John Hitt has been pushing the move to Downtown. He recently addressed a real estate crowd, showing how the expansion will help create 4,070 jobs.
“The UCF downtown campus stands to greatly enhance the local economy and will pay for itself in a relatively short amount of time,” Hitt said on May 6 a UCF’s Real Estate Conference.
Construction on Phase One isn’t expected to be finished for a year, while developers don’t expect construction of the entire Creative Village to be finished until 20 years down the road.