{"id":1004051946,"date":"2011-06-22T23:09:50","date_gmt":"2011-06-23T07:09:50","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=7549"},"modified":"2022-12-05T02:54:44","modified_gmt":"2022-12-05T10:54:44","slug":"ucf-incubator-project-stalled-millennium-pointe-apartments-change-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ucf-incubator-project-stalled-millennium-pointe-apartments-change-hands\/","title":{"rendered":"UCF Incubator Project Stalled; Millennium Pointe Apartments Change Hands"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor<\/p>\n

Governor Rick Scott\u2019s recent veto of public-education capital-outlay projects seems to have had a disastrous effect on the University of Central Florida\u2019s (UCF) plans to build a $45 million Interdisciplinary Research and Incubator facility.<\/p>\n

The Incubator, planned on UCF\u2019s main campus in Orlando, had previously received the Florida State Legislature\u2019s approval of $6 million for design work, according to the Orlando Sentinel<\/em>. Consequently, Charles Perry Partners Inc. was contracted by the university for pre-construction services, while Gainesville-based Ponikvar & Associates were in charge of the design. UCF officials have declared that the plans for the four-story, 120,000-sq. ft. building will not be dropped, but they are pending approval of construction funds. Unfortunately, this means it might take years for UCF to get its Interdisciplinary Research and Incubator facility.<\/p>\n

On a much more positive note, Marcus & Millichap Real Estate Investment Services has announced the sale of Millennium Pointe at 4255 Barwood Drive in Orlando. Built in 1975, the Millennium Pointe Apartments traded for a sale price of $4,550,000\u2014that’s $22,750 per unit. The apartment community, fully fenced and equipped with a card entry system, is comprised of 200 units.<\/p>\n

The buyer, a limited liability company from Lafayette (whose name was not disclosed) and the Miami-based seller (who also wanted to remain anonymous) were both represented in the sale by Marcus & Millichap\u2019s Senior Vice President Investments Evan P. Kristol and Still Hunter, III, of the firm\u2019s Fort Lauderdale office, and Associate Michael Donaldson of the Tampa office.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Georgiana Mihaila, Associate Editor
\nGovernor Rick Scott\u2019s recent veto of public-education capital-outlay projects seems to have had a disastrous effect on the University of Central Florida\u2019s (UCF) plans to build a $45 million Interdisciplinary Research and Incubator facility.
\nThe Incubator, planned […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1493],"tags":[],"class_list":["post-1004051946","post","type-post","status-publish","format-standard","hentry","category-latest","category-orlando"],"acf":[],"yoast_head":"\nUCF Incubator Project Stalled; Millennium Pointe Apartments Change Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ucf-incubator-project-stalled-millennium-pointe-apartments-change-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UCF Incubator Project Stalled; Millennium Pointe Apartments Change Hands\" \/>\n<meta property=\"og:description\" content=\"By Georgiana Mihaila, Associate Editor Governor Rick Scott\u2019s recent veto of public-education capital-outlay projects seems to have had a disastrous effect on the University of Central Florida\u2019s (UCF) plans to build a $45 million Interdisciplinary Research and Incubator facility. 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