Coffee, Bagels, & $500M Projects

July 12, 2024

Happy Friday, Orlando. The weekend has arrived. Thanks for tuning in to the newsletter this week - Let’s close it out strong.

🌥️ Today’s forecast: Expect partly sunny skies throughout the first half of the day, with some scattered storms popping up this evening. Highs will hit about 94 degrees. We’ll likely see more of the same throughout the weekend.

Here’s what’s on deck:

  • Winter Garden’s Otus Coffee Acquired by Jeff’s Bagel Run

  • Two Huge Developments Coming to Parramore Neighborhood Downtown

Let’s dive in.

BUSINESS

Winter Garden’s Otus Coffee Acquired by Jeff’s Bagel Run

Image: Otus Coffee

What's happening: Jeff's Bagel Run, an Orlando-based bagel chain, has acquired Otus Coffee, a Winter Garden-based roaster, from which it has sourced coffee for the past four years.

Why it matters: The acquisition gives Jeff's Bagel Run more control over its coffee supply chain, positioning both brands for rapid growth across the nation.

The details:

  • Otus Coffee founders Glen and Jaclyn Turchin will remain with the company, with Glen leading coffee innovation and Jaclyn joining the training and development team.

  • The roaster will also retain its brand and wholesale clients, maintaining its current operations and location while increasing production to match Jeff's Bagel Run's growth.

Expansion plans:

  • Jeff's Bagel Run is expanding quickly, with new locations opening both in Winter Park and nationally, bringing the total to 15 stores once all new and under-construction locations are completed.

  • The chain is partnering with a franchisee for its five-store expansion in Houston and has announced two new stores in North Carolina.

ON THE DOCKET

What’s Happening this Weekend?

Image: Orlando City

  1. Orlando City faces off against New England in an away match on Saturday at 7:30 PM. The game will stream on Apple TV.

  2. Chris Brown’s 11:11 Tour arrives at the Kia Center, also set to start at 7:30 PM Saturday.

  3. LOCASH heads to Nautilus Theater on Sunday for a 4 PM show.

  4. The UEFA Euro Final is Sunday at 3 PM, and Gotta Go Orlando has the best spots to watch the match.

  5. Finally, here's your weekly reminder that the Orlando Farmers’ Market is back in session on Sunday from 10 AM to 3 PM.

REAL ESTATE

Two Huge Developments Coming to Parramore Neighborhood Downtown

Image: Westcourt

Driving the news: Significant developments are set to transform Parramore, with two major projects leading the change:

1. Westcourt Development:

  • What's happening: San Francisco-based real estate firm Machete Group and the Orlando Magic are collaborating on a $500 million mixed-use project called Westcourt north of the Kia Center.

  • Key details: The 900,000-square-foot project will include a 260-room hotel, a live events venue, a high-rise residential tower, retail and office spaces, and a festival plaza.

  • Timeline: Site work begins late 2024, with full construction in early 2025. Completion is expected between late 2026 and early 2027.

  • City support: Orlando approved up to $40 million in property tax rebates for the project, which will also feature dedicated spaces for small businesses and vendors.

2. Travel + Leisure HQ Move:

  • What's happening: Travel + Leisure Co. plans to relocate its headquarters and over 900 employees from near SeaWorld Orlando to downtown.

  • Key details: The move will take place at 501 W. Church St., next to the Westcourt development, with a $29 million investment in office space buildout.

  • City incentives: Orlando will provide up to $6.31 million in incentives, contingent on the company's commitment to creating 102 new high-wage jobs and supporting the local community.

Context: These developments are part of broader efforts to revitalize parts of Parramore and enhance its connectivity to downtown Orlando. The city is also working on The Canopy, a $30 million urban gathering space under I-4 to link Parramore with the downtown core.

QUICK HITS

In Other News…

Image: Joe Burbank / Orlando Sentinel

  1. An Orlando woman was pulled over by an Orange County Deputy driving a minivan with a Lyft sticker.

  2. One of the world’s largest cruise ships, the “Utopia of the Seas,” has docked at Port Canaveral.

  3. Breeze Airways added another flight to its list of upcoming routes starting October 9th out of MCO.

Thanks for tuning in to today’s edition of the newsletter. See you back here on Monday.

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