Downtown Orlando’s first post-Recession highrise nears construction and will bear the name of Central Florida’s largest locally based financial institution — Fairwinds Credit Union, according to developers.
The Tremont Plaza will also serve as SunRail‘s first indoor station with a new platform for Church Street inside the building, according to developer Lincoln Property Company.
“Tremont Plaza will offer a prime location in an office market that has been experiencing a wealth of leasing activity, but hasn’t had new office space since Lincoln built 111 North Magnolia almost a decade ago,” said Scott Stahley, senior vice president of Lincoln.
The 28-story building is poised to get underway at Garland Avenue and South Street, next to the Church Street Ballroom. With Fairwinds secured as the main tenant, building permits are expected to follow in coming weeks or months.
As planned, the lobby and first floor would include shopping, a restaurant and banking space. Integrated into the design will be a eight-story AC Hotel by Marriott with 180 rooms and a 10-level parking garage with 650 spaces, according to plans.
Lincoln Properties described the proposed SunRail platform as a “Grand Central Station type of feel.” It could eventually offer access to Orlando International Airport, with plans for SunRail to eventually link with All-Aboard Florida’s high-speed train.
“We think that’s going to be really great,” said Phil Tischer, spokesman for Fairwinds. “We’re looking forward to hearing people call it the Fairwinds stop downtown.”
Presently, Fairwinds leases three floors in a 12-story midrise at 135 W. Central Blvd. in downtown Orlando. That space mostly serves as executive offices and retail-banking. Fairwinds has a larger operations center off Alafaya Trail in east Orlando and that is undergoing renovation.
As proposed, the Tremont Plaza will be home to Fairwinds executives and administrators in about 40,000 square feet of the building’s 200,000 square feet of offices. Fairwinds will also claim lobby space for banking services, although it will be smaller than the credit union’s existing retail banking space in downtown and more focused on urban-style, self-service features.
“We’re pleased to be growing as a financial institution and expanding our presence in downtown Orlando,” said Larry Tobin, president of Fairwinds.
Tremont Realty Capital and Lincoln Property Company Southeast announced in September that construction could start as soon as 2015. Reasons for delays are unclear but the partnership got a permit for foundation in December, according to city records.
Once developers request a building permit, construction would be at least a month away, city officials have said.
Nan McCormick, of CBRE, represented Fairwinds in the lease. GAI Consultants has been working with the city on utilities for the project. Austin Commercial is expected to be the contractor.