Universal Orlando Resort Expansion (Part 1)

[Disneyhead]

Plans for the new property wouldn't be filed at city hall though, as that's the City of Orlando, and the new property is located within unincorporated Orange County. Their permitting office is located off Roslind.

Right. But the Wet n Wild land and Universal Blvd. down to Sand Lake are in the city limits.

What I know is I was standing outside of City Hall just before noon and a guy with a giant roll of blueprints walk by. The roll of blueprints was about as big around as a 5 pound coffee can. With enough sheets that if unrolled and layed flat would be about 3 inches thick. The outside sheet had the Universal logo. The guy wasn't wearing anything Universal (blue polo/black slacks).

 

[fryoj]

Really, that could just be for Sapphire or Volcano bay. Could be as simple as needing to make some changes and just brought everything on the project in case it was asked for.

 

[Teebin]

Just the idea phase of a whole new park takes a really long time. What it will contain and what will go where can be a messy process. Add to this the parallel endeavor of securing the IPs so that everyone is out of theory land will be a real slog.

What I know is I was standing outside of City Hall just before noon and a guy with a giant roll of blueprints walk by.

I imagine those must be preliminary concepts for the entire south property. I cannot imagine that both the Wet and Wild properties on either side of Uni Blvd would require so many plans.

 

[CatCatCat]

I know in the February Comcast earnings call that they said there was a $130 million, 475 acre land purchase "adjacent to an existing theme park" that basically confirmed that Universal had bought the land on Universal Blvd., but the first public documents have finally been filed with the SFWMD for said land, and we now have definitive, black and white evidence that Universal is indeed its owner.

Now, before anyone gets excited, this permit filing is only for "the construction of drainage facilities to bring the permit into compliance" but it at least shows that Universal is already getting the gears in motion to start developing the land, even if they don't have definitive plans just yet.

So, the "owner" of the land is listed as SLRC Holdings, LLC, which is just a generic company used for the paperwork and transfer of the land ownership used to hide the real identity of the owner. The confirmation that SLRC Holdings, LLC is a part of Universal comes from the contacts listed for the company, and the individual who applied for this permit. The permit applicant was Peter Giacalone, the Senior Vice President of Business Development for Universal, and the primary contact for SLRC Holdings, LLC is John McReynolds, Universal's Senior Vice President of External Affairs.

And lastly, here's a handy map of the land that Universal (SLRC Holdings, LLC - in purple) owns:

 

[Scott W.]

I know in the February Comcast earnings call that they said there was a $130 million, 475 acre land purchase "adjacent to an existing theme park" that basically confirmed that Universal had bought the land on Universal Blvd., but the first public documents have finally been filed with the SFWMD for said land, and we now have definitive, black and white evidence that Universal is indeed its owner.

Now, before anyone gets excited, this permit filing is only for "the construction of drainage facilities to bring the permit into compliance" but it at least shows that Universal is already getting the gears in motion to start developing the land, even if they don't have definitive plans just yet.

So, the "owner" of the land is listed as SLRC Holdings, LLC, which is just a generic company used for the paperwork and transfer of the land ownership used to hide the real identity of the owner. The confirmation that SLRC Holdings, LLC is a part of Universal comes from the contacts listed for the company, and the individual who applied for this permit. The permit applicant was Peter Giacalone, the Senior Vice President of Business Development for Universal, and the primary contact for SLRC Holdings, LLC is John McReynolds, Universal's Senior Vice President of External Affairs.

And lastly, here's a handy map of the land that Universal (SLRC Holdings, LLC - in purple) owns:

It's sticking out to me that the Parcel of land to the north west is closer to the current reaort than the furtherest away parcel in the south east.

 

[maxairmike]

They still really need to get ahold of the remaining UCPMIII and FQP property for the best access and use cases. The Orlando Equity Partners lots are already slated for development. I'm thinking the remaining UCPMIII lots will likely end up in a situation similar to the lots Universal acquired, but it may be several more years.

 

[bob albert]

So could universal purchase even more of the land in yellow that is adjacent?

 

[WAJAS]

So could universal purchase even more of the land in yellow that is adjacent?

They very well might.

 

[Scott W.]

They very well might.

I imagine the value of that land has just skyrocketed.

 

[WAJAS]

I imagine the value of that land has just skyrocketed.

You've got a very good point there sir. On second, thought I would pack with some doubt on any land purchase.

 

[maxairmike]

I imagine the value of that land has just skyrocketed.

That depends. How likely is it to wind up in bankruptcy/foreclosure like the land Universal just got? Even buying from the new debt owner after that transaction I believe they got it at pretty well under market price vs. if they had bought the land directly from Stanley Thomas. I'd have to go back and look to be sure, but I want to say they got it at a pretty good discount. Also, does Universal/Comcast have the capital and/or will to buy in and be the debt owner on the other parcels, or do they maybe have an understanding with Colony or another group now?

 

[Viator]

...just thought of putting this here.

 

[bob albert]

Edit: nvm

 

[LiamRowbotham]

Wow, the gears are a turning then. I'm new to this, how long has it usually been for either Universal or Disney to actually announce officially movement, after permits and land buying occur?

 

[Hockeyman55]

Wow, the gears are a turning then. I'm new to this, how long has it usually been for either Universal or Disney to actually announce officially movement, after permits and land buying occur?

Disney likes to announce things 7 years before they actual get built. Universal is opposite and will pretend nothing is being built and then announce it a couple months before it opens

All seriousness, depends on the project and company. For instance Disney announced Avatar and then held a ceremony once ground was broken. Universal didn't do that fro Diagon

 

[Brian G.]

Wow, the gears are a turning then. I'm new to this, how long has it usually been for either Universal or Disney to actually announce officially movement, after permits and land buying occur?

Well this is unprecedented so we're just as new to this as you are.

In the past, land was already part of their expansion plans and usually is a 5-6 year timeline (including design and creating), with an official announcement about 3 years before opening.

As far as this, we don't know if Universal is done buying land, or how they plan on connecting the existing resort to the new area.

 

[JungleSkip]

Well this is unprecedented so we're just as new to this as you are.

In the past, land was already part of their expansion plans and usually is a 5-6 year timeline (including design and creating), with an official announcement about 3 years before opening.

As far as this, we don't know if Universal is done buying land, or how they plan on connecting the existing resort to the new area.

I still think we'll see movement on preparing the largest parcel of land for serious construction soon.

 

[Nick]

Disney likes to announce things 7 years before they actual get built. Universal is opposite and will pretend nothing is being built and then announce it a couple months before it opens

All seriousness, depends on the project and company. For instance Disney announced Avatar and then held a ceremony once ground was broken. Universal didn't do that fro Diagon

You are right in most cases, but Nintendo will be very similar to Avatar in terms of years from announcement to opening. Avatar will be about 5.5 years (Sep. 2011-Spring 2017) Nintendo is currently on track for something like 5 years if rumors hold up (Spring 2015-Spring/Summer 2020?).

 

[Frank Drackman]

You are right in most cases, but Nintendo will be very similar to Avatar in terms of years from announcement to opening. Avatar will be about 5.5 years (Sep. 2011-Spring 2017) Nintendo is currently on track for something like 5 years if rumors hold up (Spring 2015-Spring/Summer 2020?).

Has Universal announced anything around Nintendo though?

I certainly recall Nintendo announcing that they had entered into an agreement (and I do think Universal did speak of the agreement)...Anyway, I just felt like the announcement here was something more along the lines of two publicly traded companies disclosing a deal (I wouldn't know if it was something they had to do or maybe one of them wanted to show how they were branching out a bit on how they use their Properties).

I just feel whafever was announced might have been closer to construction had it been an IP that Universal had control over. I imagine that Avatar's IP holder could have wanted the deal announced by Disney at the time the deal was made...but then we have the talk from Disney for the Star Wars area that they are building to go by to see what Disney prefers compared to UNI projects such as VB, F&F, and Fallon.

 

[Teebin]

Has Universal announced anything around Nintendo though?

They haven't officially announced anything yet but they have been working hard on it, homogenizing ideas into final concept and previz.