UnionWest at Creative Village
DEVEN partnered with Ustler Development and Halstatt Real Estate Partners to develop and co-invest in this mixed-use student housing high-rise, the first phase of the master-planned Creative Village in Downtown Orlando. Construction on the $107 million project which includes 640 student housing beds, 105,000 square feet of education space leased to UCF and Valencia College, 12,000 square feet of ground floor commercial space and a 600-space integrated parking garage was completed in August 2019. The project opened with 96% occupancy in its first year.
Creative Village, located at the former Amway Arena (NBA Orlando Magic) site, is a public/private partnership between the City of Orlando and the Master Developer, which is a joint venture between Bank of America Community Development Corporation and a local team led by Ustler Development, Inc. When complete, Creative Village will be a high quality, sustainable neighborhood development representing a diverse and dynamic mix of uses including up to 1,200,000 square feet of office/creative space, 750,000 square feet of higher education space, 1,500 residential units, 1,500 student housing beds, 150,000 square feet of retail/commercial space and 225 hotel rooms. At build-out, Creative Village encompasses over $1 billion in new development, with $431 million of development in Phase I.
UnionWest at Creative Village was a 2019 winner of the Golden Brick Award for commercial development by the Downtown Orlando Partnership. The award program is presented annually to recognize community and development projects that positively impact downtown Orlando.