Florida Hospital Health Village is anchored by the hospital, encompasses about 26 city blocks and is home to hospital and medical-related uses, educational facilities, administrative offices, Adventist Health University, medical offices and close to 1,200 hospital beds. With the addition of approximately 300 beds in the Women's Hospital currently under construction, Florida Hospital's Orlando campus will be one of the largest hospital complexes in Florida. The Ivy will contribute to the hospital's healthy-living mission with thoughtful urban design and responsible development.
The Ivy is the first true transit-oriented development project to start vertical construction in Orlando since the formal announcement of SunRail. There is a SunRail station at Health Village and this commuter rail system will be operational in 2014. The Ivy will be one SunRail stop away from the premier dining and shopping offerings of Winter Park's Park Avenue, and two stops from the main downtown Orlando stop at Church Street Station in the Central Business District, which is proximate to the newly completed Amway Center and the under construction Dr. Phillips Center for the Performing Arts.
The Ivy is also well located adjacent to several highly desirable Orlando neighborhoods, including College Park, Mills 50 District and Winter Park.
Metropolitan Orlando has a population of 2.15 million and is projected to be one of the fastest-growing areas in Florida over the next five years. Based on forecasts by the Institute for Economic Competitiveness at the University of Central Florida (UCF), employment growth for the Orlando metro area is anticipated to be the second highest in the state through 2014. UCF projects the creation of more than 59,000 new jobs in 2014.
Despite high rents and occupancies for competitive projects, there is a historically low number of new apartment units under construction within the metro area, and an absence of new construction in the immediate market area. Specifically in Downtown Orlando, urban infill apartments are significantly under-supplied.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. In May 2012, it was ranked the nation's No. 1 multifamily developer with 3,750 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 40,000 homes with a combined value of more than $5.5 billion nationwide. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach, Boston, Charlotte, Dallas, Denver, Houston, New York, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website at www.woodpartners.com
About Ustler Group
The Ustler Group of Companies consists of various commercial real estate development, brokerage, ownership, management and investment entities. The Ustler Group is led by Craig Ustler, MAI, CCIM with partners Tom Ustler, CRE and Brooke Myers. Our work is focused on Downtown Orlando and its urban development opportunities. Notable projects include Creative Village, the GAI Building and 801 North Orange. Please visit our website at www.ustler.net.
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