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On October 10, 2010, Orlando's Amway Center, the nationally acclaimed new home of the Orlando Magic, opened 30 days ahead of schedule and within budget.
The complex 800,000 SF public/private venture also received LEED® Gold Certification – the first basketball venue in the nation to do so. The developer of this massive project, the Orlando Magic, retained SC Advisors as the Developer's Representative. We worked closely with the Orlando Magic through every detail of project funding approval, design, construction, occupancy, and closeout.
In addition to the design/build challenges inherent with a special use facility, our team successfully navigated the daily challenges of a high profile project with numerous public requirements including M/WBE commitments, neighborhood programs, direct public procurement, and owner's insurance programs.
At the same time, we effectively balanced the requirements of the City of Orlando as the owner and the Orlando Magic as the developer-at-risk and anchor tenant. -
When CNL Financial Group needed to secure more than 250,000 SF of additional space to meet the company’s expansion needs, a critical factor was securing land adjacent to its existing downtown campus.
Principal Jay Berlinsky, who was then serving as Executive Vice President and Chief Operating Officer of CNL’s Realty and Development Company, orchestrated a land swap with the City of Orlando, enabling CNL to build its new Tower II on the same block as the existing Tower I. His team also successfully negotiated agreements to expand an existing parking garage to accommodate the new tenants and build a connector bridge between CNL II and Orlando’s City Hall, all of which required extensive collaboration between the City of Orlando and CNL.
As the representative for the equity sponsor and owner, Jay’s team also led the effort to arrange financing and pre-lease the building. CNL Tower II opened on time and on budget at 80% occupancy. -
In 2005, Orlando Mayor Buddy Dyer decided to address a long standing need for a community-wide vision for Central Florida’s major public venues.
Efforts to build a performing arts center had languished for years. The Amway Arena, home of the Orlando Magic basketball franchise, was one of the oldest in the nation and fell short of many NBA standards. It also lacked sufficient technology and capacity to attract quality concerts and other events to Orlando.
Meanwhile, the Citrus Bowl was faced with the possibility of losing its highly regarded holiday bowl games due to its age and state of disrepair. Millions of dollars of revenue and millions more in economic impact were at risk. Mayor Dyer proposed a bold plan that would accomplish not one, but all three venues, and turned to SC Advisors to help craft the funding and operating strategies.
The vision called for unprecedented collaboration and revenue sharing agreements among the City, Orange County, and the tourism industry. It also called for the private sector to secure the additional financial investment required for each venue and to manage its development. This complex public/private venture strategy was approved by all three public agencies in 2006 and received commitments of more than $1 billion in funding. To date, Phase I of the vision, the new $480 million Amway Center, has opened to national acclaim. Ground was broken on The Dr. Phillips Performing Arts Center in June 2011, and funding for expansion and improvements to the Citrus Bowl is a top priority once the economy improves.
The Orlando Community Venues Master Plan is regarded as one of the nation’s most successful public/private ventures, and we are proud to have played a key role in its development and outcome. -
The Judge Trust was established by a family patriarch for the benefit of his five daughters and holds 60-plus acres of historically agricultural land in Osceola County. Like so many family land holdings in Osceola County, this parcel suddenly had the potential to become prime commercial property.
Until recently, the trust’s assets were managed by Mr. Judge, whose hard work and instinctive real estate skills built wealth for his family. However, when the beneficiaries decided that it was time to develop the land, they asked SC Advisors to take the lead in positioning the property for sale or development.
Our expertise in development as well as careful attention to the priorities of both generations of the family have resulted in a successful transition. Our team has secured important commitments to improve the property and to proceed with zoning. At present, a significant portion of the property is under contract. -
Nearly thirty years ago, a group of Central Florida physicians formed a partnership to purchase 1,200-plus acres of agricultural land in southeast Orange County and hold it for long-term growth.
In 2005, when it became clear that the property was at the epicenter of one of Central Florida’s most promising growth corridors, Medical City, the General Partner retained SC Advisors to position the property for development. Our first challenge was to convert a good location into a superior location. We played a lead role in securing a crucial road network including a full interchange off of State Route 417 and a major local connector road network now known as Innovation Way.
Forward planning ensured that these roads would intersect within the partnership’s property boundaries. With these critical transportation improvements in place, we led the effort to obtain the required land use entitlements such as PD zoning and school capacity agreements that would secure the asset’s long-term value. This fully entitled property, known as Innovation Place, is now well positioned for sale or development.
Our development plans provided both a considerable hedge against the recent down market and a substantial opportunity as the market recovers.