Our Towns-Downtown Orlando

Unless you're a member, chances are you'd walk right past the unremarkable downtown facilities of the exclusive University Club and not even notice. The one-story brick building, painted a shade of yellow most often found adorning 1970s-era kitchen appliances, houses the private club's decidedly untrendy dining room, where Orlando's old-line movers and shakers still gather for leisurely lunches.

It's true that the new generation of local influentials mostly eschew this musty place in favor of the newer, glitzier Citrus Club, with its panoramic downtown views, plush furnishings and white-glove service.

But the creaky old University Club may once again become a favored hangout for cool people, thanks to a decision by the club's membership to sell its 1.5-acre site on East Central Boulevard to developers planning to build twin 37-story towers featuring 325 condominium units, 50,000 square feet of office space and 18,000 square feet of retail space on the lower floors.

To be more precise, the 500-member organization actually traded its land for ownership of a two-story bridge that will connect the towers and house the club's operations. When that happens, the University Club will have a home as impressive as any comparable club in the country.

That's the way it's going in downtown Orlando these days. Scarcely a week passes without another major condominium project-many boosted by controversial tax incentives-being announced. And as quickly as announcements are made, buyers swoop in and plunk down deposits.

Remarkably, this rush of interest comes after years of apathy about downtown and its prospects as a desirable place to live, work and play. Just ask attorney William J. Sheaffer, who in the mid-1980s remodeled an old house on Central Boulevard and converted it to an office for his criminal law practice.

"We did it because it was close to the courthouse," says Sheaffer. "Beyond that, downtown didn't hold a whole lot of appeal. Not a lot to do, nowhere to go."

"It was like a ghost town down here back then," adds Carol Sheaffer, who manages her husband's practice. "There wasn't much going on even during business hours. And after that, forget about it."

Fast forward to 2005, and it's a very different scene on Central Boulevard.

Just east of the Sheaffers' office, at the bustling mixed-use complex known as Thornton Park Central, the day begins when gourmet-trendy Central City Market opens for breakfast. Next door, Shari Sushi Lounge attracts a glittery lunch and evening crowd while the spacious Urban Think! Bookstore offers its in-the-know readers a gallery/bistro hangout.

And at the corner, trendy Hue remains one of the hottest dining spots in town, especially during its monthly "Disco Brunches," when the restaurant's self-serve Bloody Mary bar draws long lines and the retro sounds of Donna Summer fill the street.

And all that barely covers just one neighborhood within Orlando's kinetic downtown corridor. In addition to all the new shops and markets, and an ever-changing firmament of nightclubs and restaurants, the city's central core has become one of the liveliest real estate markets in the region, attracting not only youngish, single career seekers who like to congregate where the action is, but middle-aged professional couples who appreciate the convenience of a daily routine that doesn't depend on the vagaries of Central Florida traffic.

"I can't even begin to tell you how much moving to downtown has improved our quality of life. We can walk to almost everything we need, and the diversity of the neighborhood, all the different kinds of people, keeps it interesting," says Jerol Gardner, whose husband, Winston "Bud" Gardner, is chief operating officer of TLC Engineers and a former state senator from Brevard County.

The Gardners, who moved downtown three years ago from Merritt Island, were among the first owners at the 56-unit Lofts of Thornton Park Central, one of several acclaimed residential projects by developer Phil Rampy, who named the once-forlorn neighborhood east of Lake Eola and is credited with transforming it into arguably the most prestigious address in the region.

"The area needed an identity," says Rampy. "Back in the early 1990s, I was looking at an abstract for a house I owned at the corner of Thornton Avenue and Jefferson Street, and it just came to me-Thornton Park. The whole area deserved to be called something."

In fact, so vibrant is Thornton Park that it's even getting its own Publix supermarket-the first downtown supermarket in decades. The 29,000-square-foot store, to be located on the south side of Lake Eola, will anchor a complex that will also include 312 condominium units and 8,000 square feet of office space.

Rampy's bullishness on downtown, not to mention his success in parlaying previously undesirable downtown parcels into retail and residential moneymakers, has since been embraced by a cadre of other developers. In fact, you almost need a scorecard to keep up with all the players and their latest projects.

Among the most intriguing is developer Cameron Kuhn's plan for a 750,000-square-foot, mixed-use development that will encompass an entire block of downtown bounded by Orange Avenue on the east, Washington Street on the south, Jefferson Street on the north and a city-owned parking lot on the west.

The project, dubbed Premier Trade Plaza, will contain two condominium-office towers with 383,000 square feet of space; 105,000 square feet of retail space, including a 12-screen movie theater; and a 310-unit residential condominium tower. Downtown Orlando hasn't had a movie theater since the vaudeville-era Beecham was converted into a nightclub in the 1970s.

Kuhn also plans to redevelop a second downtown block, this one bounded by Orange Avenue on the east, Washington Street on the south, Jefferson Street on the north and a city parking lot on the west. That project, as-yet unnamed, might include a hotel as well as residential, retail and office space.

Given the current boom, it's difficult to imagine that five short years ago downtown contained just four major condominium communities with some 350 units: The Reeves House, Park Lake Towers, The Ivanhoe and 530 E. Central Avenue.

Since then, 19 new and conversion condominium projects have either been announced or completed. If everything currently proposed is actually built, the total number of downtown units would increase to almost 3,600.

Of course, some plans may never come to fruition and others may be altered based upon market conditions. But of the projects currently on the market, none appear to be struggling.

A prime example is The Metropolitan at Lake Eola, a building still known to longtime locals as the old Harley Hotel. Developer David Eichenblatt, who bought the property last December and began converting it to condominiums, sold all 128 units within 72 hours of opening a sales office.

Attracted by prices that ranged from $110,000 to $150,000, people waited in line to put down deposits. And there's a standby list of would-be buyers who are hoping some of the deals fall through.

"We aimed for a hip, sophisticated clientele," says Eichenblatt, who professes not to be surprised at the response. "It's a perfect location because you have Lake Eola at your front door and you can walk to work from your back door. Plus we have huge balconies and a price point that can't be beat."

On Church Street, 55 West on the Esplanade, a 35-story, 363-unit condominium tower, is scheduled to break ground in April. With prices starting at $300,000, 55 West will be topped off by eight luxury penthouses selling in the $3 million range, and residents will be able to enjoy such sybaritic pleasures as an on-site spa and 24-hour concierge service.

Tampa-based Euro American Advisors, developer of 55 West, says 60 percent of the units are already reserved, although converting those reservations to contracts will be required before the project can officially get under way.

At the north end of downtown, near the intersection of Colonial Drive and Orange Avenue, 31-year-old developer Steve Kodsi is launching a seven-acre, mixed-used project dubbed Midtown, which he says will include some 500,000 square feet of commercial space and 700 to 800 condominium units.

Kodsi is also the developer of The Sanctuary, a 173-unit, 18-story condominium project between Pine and Church streets on Eola Avenue. Units, which offer up to 4,000 square feet of living space, range in price from $320,000 to more than $1 million. Occupancy is scheduled for the first quarter of 2005, and about 65 units are sold, Kodsi says.

And as if he weren't already busy enough, Kodsi also plans to build Star Tower, a $30 million 18-story condominium project between Jackson and Mariposa streets. Work isn't slated to begin on the 105-unit project until mid-year, but according to Kodsi's Historic Creations Design and Development, which is handling sales, more than 500 potential owners are already on a waiting list.

In the meantime Rampy's firm has filled a majority of 23 luxurious Eola South "city houses," which feature large balconies overlooking Lake Eola, granite kitchen counters, stainless-steel appliances, marble baths and private garages.

And Rampy's 26-unit Osceola Brownstones, where prices range from the mid-$200s through the high $300s, should be finished by fall. The three-story project features brown brick stucco, roof gardens and two-car garages.

A newcomer to the downtown market will be The Vue at Lake Eola, a 323-unit tower next to The Metropolitan that sold about 50 percent of its units shortly after opening a sales office last July. Prices range from $179,900 to $1.7 million. Ground was broken last December with completion slated for late summer.

About five minutes south of downtown, at 525 E. Michigan Ave., developer Barry Miller's Copley Square brownstones and Victorian town homes are 45 percent pre-sold, with Phase II buildout slated for this summer. The project, with a distinctive Bostonian flair, features its own amphitheater for local productions. Three- and four-bedroom homes range from $352,000 to $400,000-plus.

Of course, there are residential options downtown aside from new condominiums. The charming old neighborhoods ringing the city have been gentrifying since the late 1980s. While Thornton Park is perhaps the highest-profile example, property values are also soaring in the city's other designated historic districts, including Lake Eola Heights, Lake Lawsona, Lake Cherokee and Lake Copeland.

As builders build and buyers buy, Mayor Buddy Dyer and other boosters are looking for ways to boost downtown arts and entertainment options while enhancing pedestrian-friendly transportation systems and attracting a greater variety of businesses.

Everyone agrees that a downtown performing arts center, which Dyer has made a priority, would be a wonderful addition. But almost no one agrees on how such a project, which would cost at least $150 million, would be financed. Still, Dyer has promised that ground will be broken by the end of his term in 2008, and a committee of community movers and shakers is working to develop a plan.

Renovating or replacing the TD Waterhouse Centre, home to the NBA's Orlando Magic, is also on Dyer's to-do list, as is an overhaul of the Citrus Bowl, currently home to the University of Central Florida Golden Knights and two annual bowl match-ups.

But the so-called "O-rena" would cost $70 million to renovate while a new facility would cost perhaps four times that much. And the Citrus Bowl upgrade, which would cost at least $150 million, has recently become an iffy proposition as UCF officials warm to the idea of building an on-campus stadium.

If Dyer can, in fact, make his wish list a reality, then he'll surely rank as the most effective mayor in the city's history and will be perfectly justified in thumbing his nose at doubters.

But even if he's only partially successful, the foundation for enormous change downtown is already in place, says Downtown Development Board executive director Frank Billingsley.

"There's a trend across America of more and more people moving into downtowns, and we have a very desirable and pleasant downtown infrastructure in place," says Billingsley, who points to the city's brick streets, urban lakes and architectural variety.

"Our downtown is a neighborhood where you can feel very connected to friends, family, and community. It's a much richer experience living in an urban environment, where you can feel connected to the pulse of the community."