Craig Ustler on why Parramore could be the new Brooklyn Craig Ustler at a table in his restaurant, Citrus, where a favorite piece of Florida-inspired artwork hangs. View Slideshow JIM CARCHIDI Craig Ustler at a table in his restaurant, Citrus, where a favorite piece of Florida-inspired artwork hangs. Abraham Aboraya Reporter- Orlando Business Journal Email | Twitter If you crack open your crystal ball and look 10 years into the future, the next big real estate opportunity might surprise you: Parramore. Craig Ustler, the owner and president of Ustler Development and the spearheader behind the $1 billion Creative Village project redeveloping the former Amway Arena site, was speaking at the November Creative Village Coffee Talk. He said land in Parramore is going to become more valuable. “Land in Parramore will be more valuable in 10 years than Thornton Park because of the creativity, because of the diversity,” Ustler said. “It’s why people pay more to live in Brooklyn than in SoHo in Manhattan. That’s what a great urban place does.” Ustler announced today that the Bob Carr Performing Arts Center isnt going to be torn down, but rather, reimagined. Check here to weigh in on what should go in the new space. For Parramore, though, consider this: Creative Village is planning to bring together Orlando’s creative and tech class to downtown. When you add in all the transportation improvement — the expansion of Lymmo, the bus rapid transit expansion, SunRail commuter rail — that can add more transit-oriented developments. “I think he [Ustler] is absolutely correct,” said Jim Sellen, a principal with the Orlando office of Vanasse Hangen Brustlin Inc., which is putting together a neighborhood plan for Parramore. “This is hopefully the next great downtown neighborhood.” Of course, the challenge will be for the neighborhood to be revitalized without losing its diversity and its history. In short, without the dreaded G-word: gentrification.
Posted on: Wed, 13 Nov 2013 20:52:26 +0000
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