NEWS: Universal Orlando Announces Shortlist of Potential Developers for Affordable Housing Project

Ever since we learned that Universal Orlando was setting aside property to develop affordable housing near the Orange County Convention Center, we’ve been keeping our eyes and ears peeled for details!

Universal Orlando

Slowly but surely, new details continue to emerge, and the latest tidbit reveals that Universal has whittled down a shortlist of potential developers for the project!

As we previously learned, Universal Parks & Resorts is planning to officially choose a developer by the first quarter of 2021, so with this list of finalists, it seems they are right on track to meet that goal!

Universal Orlando

In seeking to develop an affordable complex of 1,000 apartments on 20 acres of Universal land, the company is donating the acreage to a nonprofit in order to ensure that the designated land is used for its intended purposes.

©Orange County

The plan is for Universal to foot the development costs, while the nonprofit leases the land to whichever developer is selected for $10 per year. While the developer will cover construction costs, they’ll ultimately save millions by building on donated land and recouping profits with future rent payments.

Universal Orlando

Now for this next big step, Universal has released a shortlist of five potential developer candidates: Atlantic Pacific Communities; the team of Columbia Residential with Crosland Southeast; the team of Integral Group, Bravis Group, and Wire Development; McCormack Baron Salazar; and Wendover Housing Partners, as reported by Spectrum News 13.

These five were selected from a pool of 17 potential candidates, and Universal confirmed they’re still aiming to make their final decision by spring 2021.