Universal Orlando Resort Expansion (Part 1)

[GAcoaster]

Some could go underground and some could get routed around the outside of the property.

 

[gator]

You all think they can put those high mega lines underground? That is serious "slice through an M1 tank" kind of power.

Yes, those are high voltage transmission lines, serious stuff, but definitely able to be routed underground. In fact, follow those same lines south 2.5 miles to the Marriott Grande Vista where the lines go underground. Notice that no buildings are located directly above the lines but the space is still highly useful.

 

[Galaxy Defender]

Here is the summary of the lawsuit filed:

NBCUniversal is facing a new lawsuit attempting to block any new theme parks on 475 acres the company acquired in the Orlando area last year.

Georgia developer Stan Thomas is behind the suit, which was filed Friday in Orange County Circuit Court. He’s the man who once controlled Universal’s land just south of Lockheed Martin’s plant on Sand Lake Road. Thomas’s company, UCPM III, lost the property in a foreclosure following the Great Recession. Universal bought the land after the foreclosure last fall for $130 million.

According to the lawsuit, there are still private restrictions on the land that prevent a large-scale tourist attraction. It’s a completely separate issue from the zoning entitlements that the Orange County Planning Commission green-lighted for the area on Friday.

Orlando Sentinel

The article references at the end a planning board decision that could mean properties that receive a vested rights certificate have to start construction within three years of getting the certificate.

Orlando Sentinel

Governments and lawsuits make everything so much more fun.

 

[Joel]

Here is the summary of the lawsuit filed:



Orlando Sentinel

The article references at the end a planning board decision that could mean properties that receive a vested rights certificate have to start construction within three years of getting the certificate.

Orlando Sentinel

Governments and lawsuits make everything so much more fun.

This sucks, but I have a feeling Universal will be able to overcome it. Especially since Orlando thinks its good to have another park here.

 

[UK-Trigg]

I

This sucks, but I have a feeling Universal will be able to overcome it. Especially since Orlando thinks its good to have another park here.

It would be a bummer if they fall fowl of a clause that they instigated themselves

 

[Galaxy Defender]

I


It would be a bummer if they fall fowl of a clause that they instigated themselves

I am sure Universal's lawyers looked at this. Can't imagine this property being purchased if it could not be used for a theme park by Universal.

Anyone know what the motivation is for filing this lawsuit?

 

[UK-Trigg]

I am sure Universal's lawyers looked at this. Can't imagine this property being purchased if it could not be used for a theme park by Universal.

Anyone know what the motivation is for filing this lawsuit?

$$$s

 

[Galaxy Defender]

$$$s

No doubt.

 

[Mad Dog]

$$$s

You beat me too it. On the whole,big real estate investors are a pretty slimy bunch. Bankruptcy is their middle name. The laws let them get away with about anything when it comes to manipulation of paying taxes, playing with government subsidy money, and backing out of promises.

 

[UK-Trigg]

No doubt.

He's probably peed off that he lost the land in foreclosure and Uni picked it up for a bargain $130m.

Like you I believe the suits would have gone over this and the land will still be fit to use as Universal see's fit.

 

[Teebin]

Kooky crazy. The city is already rolling their hands for the tax dollars. And it is across the street from one of the largest convention centers in the country, if not the world.

 

[s8film40]

I think the guy with the Toothsome lawsuits has a better shot, haha.

 

[Joel]

You beat me too it. On the whole,big real estate investors are a pretty slimy bunch. Bankruptcy is their middle name. The laws let them get away with about anything when it comes to manipulation of paying taxes, playing with government subsidy money, and backing out of promises.

*cough* Trump *cough*

 

[fryoj]

I think really the whole lawsuit is based on one of two things. Either he's just wanting the restrictions dropped on his remaining properties and Uni wouldn't play ball. Or he tried to sell his properties to Uni for way too much and they refused, so now he's trying to cause trouble.

The article references September 2015 discussions between the two which is before the property even went up for auction, so the players in this game knew this was all coming for a long time.

Either way the restrictions will end up being dropped across the board and Uni probably ends up with all his land. How the lawsuit proceeds will just determine how much they end up having to pay for it.

 

[Scott W.]

Could this lawsuit cause delays?

 

[Teebin]

Could this lawsuit cause delays?

I am not concerned.

 

[Jon84]

I am not concerned.

Agreed, they can still survey the land, make plans and probably still clear it while any lawsuit takes place

 

[Teebin]

Too, as I read, it was a law created at the request of Universal to protect Universal. Uni doesn't need the protection any longer as they own the property once again. It's amazing how money talks in local politics and government. Nasty pie.

 

[GAcoaster]

Anyone know if the rumor I heard that the iFly location on I-Drive was purchased by Universal? I just saw they are opening their new location in April and I heard that Universal may have purchased the old one. That could be an integral part of a transportation link between the current property and the Wet N Wild property.

 

[AlexanderMBush]

Anyone know if the rumor I heard that the iFly location on I-Drive was purchased by Universal? I just saw they are opening their new location in April and I heard that Universal may have purchased the old one. That could be an integral part of a transportation link between the current property and the Wet N Wild property.

Would that be potentially including other buildings adjacent to the IFly?