Just a few months after opening Epic Universe, Universal may be eyeing a nearby property for a new project. However, the theme park operator has taken steps to ensure its plans for the site remain a secret for now.
Universal filed an application with the South Florida Water Management District on August 11, requesting approval for mass grading of nearly 54 acres on Universal Boulevard directly northwest of Top Golf and Andretti Indoor Karting & Games Orlando.
A spokesperson for Universal denied that there are plans to develop the site, saying that the company is looking to “obtain permits to perform work associated with the ongoing maintenance of our property.”
However, mass grading, which involves moving dirt to change the topographic features of a site, usually precedes some sort of construction. An I-Drive District Overlay Zone document provided by Orange County indicates that portions of the property are undergoing environmental remediation, a process of cleaning contaminated land to remove hazardous substances.
Mass grading can be a part of an environmental remediation project, but the permit type that Universal is seeking is under the category of new construction/operation, which suggests there could be some sort of construction project in the works.
The application also included documents that were exempt from public records, a rare occurrence that further shrouds the application in mystery. Those files contained a reference to Florida Statute 119.071(3)(b)1, which applies to security or fire safety system plans.
That statute is intended to shield certain building plans, blueprints, schematic drawings, and diagrams from public access if they “depict the internal layout and structural elements of a building, arena, stadium, water treatment facility, or other structure owned or operated by an agency.”
“It could be a lot of things. I mean, it’s Universal — they’re the most creative, most able owners in the marketplace, right? So it could be a myriad of things. It could be anything they want it to be,” said Marc Reicher, Executive Vice President of RIDA Development and a member of the Board of Directors for the International Drive Resort Area Chamber of Commerce. Last year, RIDA Development paid $1 billion for the Hyatt Regency Orlando, located across the street from the Universal property.
The property is located just west of Epic Universe, which opened earlier this year. Universal is also building a 1,000-unit mixed-income housing community called Catchlight Crossings nearby. (Orange County Property Appraiser)
Josh Wallack, owner of Mango’s Tropical Cafe on I-Drive, also serves on the Board of Directors for the International Drive Resort Area Chamber of Commerce and is a member of the I-Drive Business Improvement District. He said that if there were a greater variety of attractions, well-known hotel brands, and nationally recognized restaurants built around the Orange County Convention Center, where Universal’s property lies, it could help Orlando better compete with Las Vegas and Chicago for large corporate conventions.
A recently released study conducted by Sean Snaith, the Director of the University of Central Florida’s Institute for Economic Forecasting, concluded that Epic Universe is expected to generate a $2 billion local economic impact in its first year of operation. While the park is designed to keep customers on the campus as much as possible, Wallack said that many visitors who attend Epic Universe also patronize local businesses and restaurants.
“There’s no question that the opening of Epic Universe has expanded the leisure market. There are more people spending money on this side of town,” he said. “People are going to Epic Universe first thing in the morning, then by four or five o’clock…they want to go back to the hotel, change, and then go out to dinner somewhere nice.”
In addition to Epic Universe, Universal is also currently co-developing Catchlight Crossings, a 20-acre mixed-income housing community next to the convention center that will feature 1,000 residential units and ground-floor commercial space.
“Universal’s investment in the area of billions and billions of dollars signifies that institutional investors should be looking at the International Drive district for commercial, hospitality, and residential properties,” Wallack said, pointing out that Universal owns other properties near Epic Universe. “They’re sharpening their knives there right now, and it’s wonderful.”
GrowthSpotter Editor Laura Kinsler contributed to this report.
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