A multi-million dollar project, which leaders hope will be a catalyst for change in downtown Orlando, got the green light Monday from the city of Orlando.
Orlando is donating 15 acres of land and a building to the University of Central Florida's Creative Village project. The donation amounts to a $75 million investment.
At Monday's City Council meeting, UCF leaders made their final plea, outlining their vision for the future.
“This is the classroom of tomorrow for our students downtown," said Fred Kittinger, as he showcased renderings of the modern campus.
UCF's joint venture with Valencia College is a downtown campus, located on the site of the former Amway arena along Amelia Street.
It will serve more than 7,000 students with 14 academic programs, and will be a hub for education, technology and business. City Council unanimously approved the agreement, leading to a cheer from project supporters.
“I feel a sense of partial accomplishment, a sense of excitement," said Marcos Marchena, the Chairman of UCF's Board of Trustees. "I think we keep getting closer to our goal.”
UCF's goal is raising millions of dollars before presenting the project to the Florida Board of Governors next month. Though it's been in the works for more than two years, the Creative Village project is still in the approval stage and needs momentum.
“This action sends the message that the city is fully on board," added Marchena.
The central fixture to the sprawling campus will be an academic building that will cost roughly $60 million to construct. The cost will be split in thirds: $20 million from the university; another $20 million in private funding; and the remaining $20 million from the state. Though the University has raised $9 million in private funds so far, eyeing the remaining $11 million the state money has not yet been approved.
In December the Orlando Magic pledged $1.5 million for the project.
Last month, UCF's Board of Trustees unanimously approved a memorandum with Governor Rick Scott's office. It detailed specific aspects of the school's contribution to the Creative Village, including that the university would not seek additional funds from the state beyond the $20 million they they're requesting.
“We’re very, very optimistic that we’ll get a favorable vote from the FL Board of Governors, but they’re doing their job," said Fred Kittinger, the Associate Vice President of UCF University Relations. "They’re giving it good scrutiny, and that’s the position they need to be in.”
The school plans to present to the Florida Board of Governors in Orlando on March 2nd.