Frank Sciame, the founder of Sciame Construction, gave Osceola commissioners a preview of his plans for the $1 billion NeoCity town center on Monday. He also revealed for the first time that he has partnered with a co-developer who has decades of know-how and a career portfolio that surpasses 30 million square feet.
Institutional-grade real estate in large urban areas is owned and managed by Edward J. Minskoff Equities or EJME. The developer and Sciame have collaborated to produce prestigious office buildings and mixed-use projects such as 51 Astor Place, which includes the IBM Watson headquarters, and 101 Avenue of the Americas.
He selected Minskoff because the developers shared a vision for a vibrant project that would bring housing, offices, retail, and performing arts to the tech district and both saw NeoCity as a blank canvas. Edward Minskoff was impressed by Osceola County’s commitment to luring high-paying tech jobs to NeoCity by making investments in the NeoCity Academy stem school, the Center for NeoVation, and the county’s first Class-A office building.
While the hotel and office towers may be taller, the first phase would comprise three mixed-use residential structures with a maximum height of 85 feet. A primary thoroughfare will be built by the developer along NeoCity Way that will connect to the cultural center, where the performing arts complex will serve as an architectural landmark for the waterfront.
Colletta stated that the initial 25 acres of Phase One were very substantially focused on work-live-play community, centered on the public experience.” There will be a wide range of food and drink options, shopping, shaded plazas, public art, and access to lake amenities, in addition to shops and shaded plazas for people to enjoy performing arts. And it’s the kind of neighborhood that, in their opinion, will foster a sense of place that will encourage investment and job growth in Osceola County.
They envision some of the performing arts programs spilling onto the public plaza after a succession of restaurants, retail stores, and grocery stores line the edge of the sea. Additionally, there are hotel and office components, as well as, of course, access to the lake.
Due to the transfer of ownership from Song to Sciame, the Board of County Commissioners decided to grant DSUS a 120-day extension in April. The exclusivity period was changed in the conveyance agreement on Monday by a board modification that aligns it with the Project Milestones specified in the Original Agreement.
Board Chairman Brandon Arrington remarked, “these world-class developers design, develop, maintain, and refurbish some of the most recognizable buildings around the world, and for them to be leading the efforts to develop NeoCity’s City Center is further confirmation that NeoCity is a regional game-changer.”
“It’s the right place, the right position, the right time, and the right state,” Colletta continued. And as you may know, we have high hopes for the future.
|Source: Laura Kinsler | Growthspotter | Jul 19, 2022, at 5:54 pm|