Peter Vilmos Discusses Site Redevelopment in Orlando
Burr & Forman’s Peter C. Vilmos recently offered his insights to Orlando Business Journal for their article, “Flea World site's redevelopment pivot reveals Orlando market stress point.” The Orlando area desperately needs multi-family housing to accommodate its new residents. The article examines why—given the need for housing—the current developer of the large former Flea World site chose to substantially decrease the number of units previously approved, and why the current developer chose not to use concrete as the primary structural building material.
According to the Orlando Business Journal, the new vision for the property focuses on 1,200 apartments across three communities. The original plan – a more dense, taller project – included multi-story concrete structures. The new plan would be more affordable with wood-frame construction.
"The cost of concrete has escalated dramatically, even relative to the overall increase in construction costs," Vilmos said. "Concrete is going up far higher than the cost of other building materials, so it's not surprising to see a builder or developer change the medium with which they’re going to build from concrete to wood."
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