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Universal Orlando Resort Expansion (Part 1)

Discussion in 'Miscellaneous Universal' started by ReelJustice, Jul 10, 2012.

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  1. Starwarsfan13

    Starwarsfan13 Rookie

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    I have a feeling if Uni wanted this stopped, they could do it relatively easily...
     
  2. justinmb98

    justinmb98 Rookie

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    Hehe, "down the road", hehe...
     
  3. maxairmike

    maxairmike Veteran Member

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    Here's the promised visual aid on the different plots in the Major Blvd. loop. Below the graphic will be a growing list of details for each plot (hotel rooms, land/building values, use codes, etc.). Please be patient as I continue updating the list with additional information.

    [​IMG]

    1) Double Tree
    - Owned by Meristar Hospitality
    - 754 Guest Rooms
    - 16.5 acres
    - Total Market value: $28,878,843 (buildings and land)
    - Use Code: 3920 (Hotel Full Service)
    2) Holiday Inn
    - Owned by AVR Realty Co.
    - 390 Guest Rooms
    - 7.4 acres
    - Total Market value: $10,646,576
    - Use Code: 3910 (Hotel Limited Services)​
    3) Summit Hotel OP LP (vacant land)
    - 3.2 acres
    - Land Value: $1,604,610
    - Use Code: 1000 (Vacant Commercial)​
    4) Hyatt Place
    - Owned by Summit Hotel OP LP
    - 151 Guest Rooms
    - 3.2 acres
    - Total Market Value: $7,404,217
    - Use Code: 3910 (Hotel Limited Services)​
    5) DOT/State of Florida (vacant)
    - 4.0 acres
    - Land Value: $1,766,319
    - Use Code: 8700 (State)​
    6) DOT/State of Florida (vacant)
    - 2.1 acres
    - Land Value: $1,288,000
    - Use Code: 2800 (Surface Parking)​
    7) Days Inn
    - Owned by Caravan Hotel Properties
    - 261 Guest Rooms
    - 5.7 acres
    - Total Market Value: $3,881,673
    - Use Code: 3910 (Hotel Limited Services)​
    8) Dealer Property Holdings (vacant)
    - 25.3 acres
    - Land Value: $7,945,258
    - Use Code: 1000 (Vacant Commercial)​
    9) Central Florida Investments Inc. (Florida Visitor Bureau)
    - 5.7 acres
    - Total Market Value: $1,598,945
    - Use Code: 3400 (Recreational Meeting)​
    10) Major Plaza office buildings (two lots)
    - Owned by Emerson Investments International Inc
    - 7.9 acres
    - Total Market Value: $13,958,524
    - Use Code: 1802 (Office 4-8 stories)​
    11) Red Vineland Road Holdings LLC (vacant, 2 lots)
    - 4 acres
    - Land Value: $1,421,192
    - Use Code: 1000 (Vacant Commercial)​
    12) Extended Stay America
    - Owned by BRE/ESA FL Properties LLC
    - 122 Guest Rooms
    - 3 acres
    - Total Market Value: $3,043,035
    - Use Code: 3905 (Hotel Extended Stay)​
    13) Behnia Pedram (vacant)
    - 1.7 acres
    - Land Value: $606,704
    - Use Code: 1000 (Vacant Commercial)​
    14) Extended Stay Deluxe
    - Owned by BRE/ESA FL Properties LLC
    - 84 Guest Rooms
    - 2.1 acres
    - Total Market Value: $2,266,605
    - Use Code: 3905 (Hotel Extended Stay)​
    15) Walgreens/Golden Corral/BK (5 lots)
    - Owned by Bara Universal/Vineland Inc.
    - 4.4 acres
    - Total Market Value: $5,520,208
    - Use Codes: 1019, 2200, 2800, 1600, 1100 (Vacant Commercial Education, Restaurant Chain, Surface Parking, Community Shopping, Stores 1 Story)​
    16) Fairfield Inn & Suites
    - Owned by CH Orlando Hotel Partners
    - 116 Guest Rooms
    - 1.5 acres
    - Total Market Value: $6,345,559
    - Use Code: 3910 (Hotel Limited Services)​
    17) Best Western Universal
    - Owned by Allegiance LLC
    - 70 Guest Rooms
    - 1.1 acres
    - Total Market Value: $3,245,308
    - Use Code: 3910 (Hotel Limited Services)​
    18) Kobe Steak
    - TCM of Kirkman LLC
    - 0.8 acres
    - Total Market Value: $936,778
    - Use Code: 2100 (Restaurants/Cafe)​
    19) Holiday Inn Express
    - Owned by MBOF Associates LLC
    - 196 Guest Rooms
    - 2 acres
    - Total Market Value: $6,119,368
    - Use Code: 3910 (Hotel Limited Services)​
    20) InTown Suites
    - InTown Suites Major Blvd. LLC
    - 150 Guest Rooms
    - 3.3 acres
    - Total Market Value: $3,024,595
    - Use Code: 3905 (Hotel Extended Stay)​
    21) Comfort Suites
    - Owned by Dick Road-Blend-All Hotel (wtf? The name requires more digging)
    - 101 Guest Rooms
    - 2.2 acres
    - Total Market Value: $3,637,350
    - Use Code: 3910 (Hotel Limited Services)​
    22) La Quinta
    - Owned by Major Universal Lodging LLC
    - 80 Guest Rooms
    - 2 acres
    - Total Market Value: $3,376,996
    - Use Code: 3910 (Hotel Limited Services)​
    23) Baymont Inn & Suites
    - Owned by SAI Arunachaal LLC
    - 56 Guest Rooms
    - 1 acre
    - Total Market Value: $1,593,480
    - Use Code: 3910 (Hotel Limited Services)​
    24) Wendy's
    - Owned by Wendy's of NE Florida Inc.
    - 1.1 acres
    - Total Market Value: $606,706
    - Use Code: 2200 (Restaurant Chain)​

    TOTALS (Including 3 DOT/State of Florida Runoff/retention plots)
    - Guest Rooms: 2,531
    - Acreage: 119.2 acres
    - Total Market/Land Value: $120,717,149​
     
    Last edited: Apr 17, 2013
    Felipe likes this.
  4. Hockeyman55

    Hockeyman55 Premium Member

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    Do you have the dates the leases expire?
     
  5. maxairmike

    maxairmike Veteran Member

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    Not yet, I'm going through and trying to get all the basic info put in first. I'm up to plot 11. Some of them are going to be a little more difficult to track down, I think, particularly regarding the Major Plaza office buildings. I'll try my best to get to those, but they may have to wait until tomorrow.

    Although I can tell you that Wendy's owns their plot of land outright.
     
    Last edited: Apr 16, 2013
  6. Felipe

    Felipe Premium Member

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    Thanks for the info and rendering, ParkRumors! :thumbs:

    Mike, what does the DOT abbreviation mean? The only thing I came up with is Department of Transportation. Is that correct? Thanks a lot for your time and patience in doing this!! Much appreciated :thumbs:
     
  7. maxairmike

    maxairmike Veteran Member

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    Yep, DOT in this instance stands for Department of Transportation. They also control the three or four small parcels that are just water in the Major Blvd. area, but their value is only $100 (obviously they won't be given up for that price, though).
     
  8. natespf

    natespf --Classified-- Premium Member

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    FDOT also owns the land across I4 for the landing of the new overpass, as well as the little lake (green area east of Grand national Dr.).

    I think this will be happening, it is a ways down the road but it is part of a much larger project. Universal could still possibly buy the land around it on Major Blvd to use as they wish.
     
  9. maxairmike

    maxairmike Veteran Member

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    Ok, the list is completely done with the basics. Tomorrow I'll go through and add land use codes and any lease information I can find.

    Regarding the overpass, I think this could actually work in Universal's favor as long as they jump on the land before this gets close enough that more businesses start eyeing the empty lots, driving up the asking price. It would provide a new high capacity road into/off their expanded property, connecting very close to a big shopping destination for their international guests. It may seem a little counter-intuitive, but it could actually be a sticking point for guests, being able to stay on Universal property, get the perks, and still be close enough to walk to the outlets.
     
  10. IzzyB

    IzzyB Premium Member

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    OK, have to laugh because my mom works in the office building in this land and I have stayed at the extended stay place, which by all means should be torn down :) I couldn't stand staying there so much we bought an air mattress and TV (which we latter returned the TV) so that we could stay in the home we found for renting early before our furniture was moved down. We were supposed to stay in the extended place until everything was moved down - lol

    But on a note of where my mom works, they just moved in and I know they are expanding, so I am thinking there lease might be for a good amount of time.
     
  11. Disneyhead

    Disneyhead Legendary Member

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    I know Universal had developed a plan for the Major Blvd area, and it was mostly a CityWalk expansion leaving the existing hotels where they are. but I think they may have moved to a grander plan that will give Universal a presence all down I-Drive almost to Sea World. The current plan I have heard is move WnW and place 3 hotels on the WnW plot, and the 3rd gate possibly going on Lockheed land where the horses are behind Pointe Orlando.
     
  12. Sage of Time

    Sage of Time Newcomer

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    Just knowing the amount of active commercial properties between WnW and Point Orlando is the plan even financially viable? That's a ton of real estate. Or are you saying the bulk of the plans involve land beyond Universal Blvd which they owned at one point already?
     
    Last edited: Apr 17, 2013
  13. Disneyhead

    Disneyhead Legendary Member

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    Universal won't buy all the land between Uni>WnW or WnW>Pointe Orlando. Just develop the WnW property and then develop the Third Gate parcel. I believe they are looking at 2023-2025 for the whole build-out.

    But count on some significant infrastructure upgrades to pull the whole thing together as a "Resort".
     
  14. Hockeyman55

    Hockeyman55 Premium Member

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    Many this sounds like an amazing plan. Universal really has the pedal to the metal and isnt slowing down. Do you think they somehow would connect this new property with the current one across I-4 somehow?
     
  15. Sage of Time

    Sage of Time Newcomer

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    If they are able to put together a viable mass transit system such as a monorail that connects close to the convention center they would be golden. The amount of conventioneers on expense accounts with easy access to the parks would create a whole new revenue stream for them. Not to mention the amount of group business they could do by selling the fact that conventions could simply use the existing mass transit system to access their park parties and buyouts to save money. That is one of the biggest selling points used to sell groups on hosting in the Epcot Resort area.
     
  16. braddillman

    braddillman Newcomer

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    Someone earlier was talking about how the overpass would connect uni to shopping. Couldn't they take advantage of an I-drive location the same way?
     
  17. Hockeyman55

    Hockeyman55 Premium Member

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    Anyone have one of those handy dandy maps of the property that Universals own that this 3rd gate is rumored for?
     
  18. Disneyhead

    Disneyhead Legendary Member

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    Yes.

    I believe maxairmike posted one a few pages ago.
     
  19. Hockeyman55

    Hockeyman55 Premium Member

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    Found it. Perfect :thumbs:
     
  20. maxairmike

    maxairmike Veteran Member

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    That would be it, and there's some land that is readily available above the largest plot as well. It was slated for a Palazzo resort development (just like the failed one at the corner of 536 and I-Drive, the website for that one is still live last I checked), but has been abandoned just like the other. I would assume the parcel would be an easy purchase if they jumped on it quick enough and would take that area all the way up to Sand Lake Rd next to Lockheed. Also, Lockheed no longer owns any of the land surrounding its existing facilities, it is all controlled by Fourth Quarter Properties or other aforementioned realty groups.


    Also, I would guess this means 3 hotels on both the actual park and parking lot parcels, correct? They couldn't fit 3 tower hotels with parking and shared facilities on the park lot alone, and I have a hard time seeing three in that total area including the parking lot just eyeballing the hotel across the street.

    [HR][/HR]

    Also, I updated my large post on the previous page with room, acreage, and value totals for the Major Blvd. lots.
     
    Last edited: Apr 17, 2013
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