New Mix-Use Complex in Downtown Orlando

DXV Central - High-Rise in Parramore

DXV Central will be a new high-rise apartment complex in downtown Orlando at the corner of Central Boulevard and Division Avenue. Construction is to begin sometime this year by Deerfield Investments, and is to be completed in 2020. Instead of doing just residential space, Hirschfeld, the owner of Deerfield, decided to add commercial office space and retail locations on the bottom floor to increase the overall worth of the property. According to Mark Baratelli's article, the building will consist of 189 residential apartments, a pool on the Roof Deck, 71,982 sq. ft. of office space, as well as 7,500 sq. ft. of retail space on the first floor.

The rent of the apartments will start at $850 a month, much lower than Orlando's average rent of $1,435 according to RENTCafe, allowing an affordable housing option and hoping to promote economic growth in the area. Hirschfeld had originally requested the building to be 17-stories and 182 feet tall, but had to be changed to 15 stories with a height of 171 feet to follow zoning laws for the area.

Deerfield Investments was incorporated in October of 1994 in Boca Raton, Florida, and DXV central is their first major project since the company's reinstatement in 2016.

References:
Kinsler, Laura. Orlando Sentinel: Parramore may get its first mixed-use tower. Sept 2019. <https://www.orlandosentinel.com/business/os-bz-parramore-high-rise-20190909-armlaoyk7nf4jpgwqfcpgjykii-story.html>.
Baratelli, Mark. The Daily City: DXV Central 15 Story Mixed-Use Tower Approved for Parramore. Feb 2020. <https://www.thedailycity.com/post/dxv-central-parramore>.
RENTCafe: Orlando, FL Rental Market Trends. February 2020. <https://www.rentcafe.com/average-rent-market-trends/us/fl/orlando/>.
InterCreditReport. <https://florida.intercreditreport.com/company/deerfield-investments-corporation-p94000076828>.

Orlando FL, Inner-City Development, Parramore Project, Downtown Orlando, High Rise Development