Franklin Street, a full-service commercial real estate firm, has been selected by Ustler Development and Development Ventures Group (DEVEN) as the exclusive property manager for UnionWest at Creative Village, a Class A mixed-use student housing tower that will be the shared home for University of Central Florida and Valencia College students living at the downtown Orlando campus when it opens in fall 2019.
Franklin Street’s Property Management group will oversee day-to-day operations; tenant, client and vendor relations; and financial management for the asset and provide strategic marketing support. UnionWest is one of the key projects at the upcoming Creative Village, a 68-acre, $1.5 billion mixed-use redevelopment of the former Amway Arena site.
In addition to 600 beds for students, the $105 million, 15-story, UnionWest building will have 105,000 square feet of academic and student services space leased to UCF and Valencia and an integrated 600-space parking garage, plus 12,000 square feet of restaurant and retail space on the ground floor. Located at the northwest corner of W. Livingston Street and N. Terry Avenue, UnionWest is a privately-owned and developed mixed-use building with educational, student housing, parking and retail components. It represents one of the most unique and integral campus mixed-use buildings in the country.
UnionWest will also house Valencia College’s new 50,000-square-foot Walt Disney World School of Culinary Arts and Hospitality, the largest culinary school in the Southeastern U.S. Retail tenants include CFE Credit Union, Qdoba Mexican Eats, Dunkin’ Donuts and Subway.
“We are very excited to partner with local business and community leaders like the Ustler Group, DEVEN, UCF and Valencia College,” said T. Scott Williams, general manager for Franklin Street’s Orlando office who will lead the onsite operations. “UnionWest is set to be one of the premier mixed-use properties in the Southeast and we intend to provide students and tenants with best-in-class management and an exceptional occupancy experience in the heart of downtown Orlando.”
“The client was impressed by our team’s ability to collaborate across various business lines and bring added value to their asset,” said Melissa Hazlewood, senior vice president of property management for Franklin Street. “They also recognized the value of our specific experience managing similar mixed-use properties such as the popular new Sparkman Wharf dining and entertainment complex, formerly Channelside Plaza, in Tampa.”
“UnionWest is an innovative mixed-use building based on partnerships and a shared commitment to providing the ideal environment for an urban university” said Craig Ustler, president of Ustler Development. “We felt that Franklin Street would be an ideal partner due to their high level of management expertise and excellent reputation in the market.”
About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.