University Club has sold its property for development of a 22-story high rise that will include a new club and hundreds of new apartments. The plan to rebuild there has been on-again, off-again, for more than a decade. The new developer that just acquired the property is led by Mill Creek Residential. The sale, at $6.85 million, was recorded on Friday. It comes with development agreements that allow the club, located at 150 E. Central Blvd., to build out again on the lower levels with more amenities. The club will also claim dedicated parking in the new building. Plans for the tower, to be called Modera Central, were approved by the city in 2015, at 26 stories. Now, however, Mill Creek is saying it will be 22 stories. Plans call for 350 “luxury apartment homes,” ground floor retail, and a new club on the first two floors of the building. The new University Club will be 25,000 square feet with a gym, spa, and various areas for eating, drinking, and socializing. The dining areas will feature two bars and an outdoor terrace elevated 20 feet above street level – giving Club members one-of-a-kind views of downtown Orlando. Troy Finnegan, club president said the construction will make the new facility a first-class building. The University Club of Orlando was founded in 1926. In addition to providing professional networking, the club also offers scholarships for local colleges and universities and its The University Club Foundation. Source: Orlando Sentinel]]>
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