First tenants at Grandview Yard unveiled - Orlando Business Journal:

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Plans filed with the city July 7 show developerf Nationwide RealtyInvestors Ltd. wantas to build the first $40 milliomn worth of projects as it continues planning forthe broader, $500 millio n to $600 million redevelopment on 90 acre s in the suburb’s industrial core. The city’s planning commissiobn will consider the HyattPlace hotel, Urban Active fitness center and a planned Jason’e Deli in the office building as conditional uses. The preliminarhy and final development plan must go through the commissiomn as well as Grandview HeightsCity Council.
Dublin-based M&q Architects, the designer of the three-story office plans to occupy atleast 20,000 square feet on the top The plans mark the firsr projects presented to the city for approval since Nationwid e Realty first began acquiringf the former Big Bear Stores Co. distribution compledx and surrounding properties inMay 2006. In conjunctioh with the real estate projects, Grandview Heighta City Council at its July 6 meetinf heard a first reading of a development agreement betwee the city and Nationwide The resolution outlines how the city will payfor $78 milliobn in road improvements and utilities insidee Grandview Yard and another $41 million in off-site publi c improvements.
Other legislation in support of the development agreement is expectede to be introduced as early as a special July 13counciol meeting. Construction on the three buildinge and the first phase of road and utilitty projects could begin as early aslate August. The hotel and fitness center should open infall 2010, said Nationwidde Realty President Brian Ellis. “We shoul d be pretty well positioned to get theproject going,” he The city’s mayor welcomed the sign of progress despitw the tough economic environment. “Getting somethingf out of the ground,” Mayor Ray DeGraw said, “will attracty attention and more people.
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