Bank of America Center (Orlando, Florida) explained

Bank of America Center
Former Names:Barnett Bank Center,
NationsBank at duPont Centre
Location:390 North Orange Avenue
Orlando, Florida
United States
Start Date:1985
Completion Date:1988
Floor Count:28
Floor Area:421203square feet[1]
Building Type:Office
Roof:123.141NaN1[2]
Antenna Spire:127.3m (417.7feet)

The Bank of America Center is a 404-foot skyscraper in Downtown Orlando.

The building is one of the tallest in the city,[3] and is a unique part of the skyline. The postmodern building was designed by Texas-based Morris-Aubry Architects, who modeled the building after their recently completed One American Center in Austin, Texas.[4] Its collection of 10 spires gives it an almost gothic appearance, and its staircase design makes it similar in appearance to another Bank of America building in Houston. The building was owned by Cousins Properties of Atlanta, Georgia, and sold in January 2018 to Southwest Value Partners based in San Diego, California.

History

April 1985, the Pillar-Bryton Company announced plans and unveiled the model for a new development in downtown Orlando, Florida on a 10-acre site off Orange Avenue named "du Pont Centre", the overall project cost was estimated to be $400 million once completed, with the first building costing $78 million. The announcement was made by the owner of the development company and an Orlando resident which was William DuPont III, heir to the Du Pont family fortune. In 1985, Forbes estimated the 32-year-old heir's wealth to be at least $125 million.[5] William du Pont III later sold the remaining undeveloped property. Bad investments and business deals caused him to also sell his ownership interest in the building in the 1990s.

The building is slated to be undergoing $1–2 million renovations every year up until 2020 which may total $8 million by the current owners. The current owners acquired the property via acquisition of Parkway Properties in a multibillion-dollar deal. Parkway Properties purchased the building in May 2011 for approximately $61 million.

In January 2018, a San Diego-based real estate firm Southwest Value Partners purchased the building for $81.86 million along with two other downtown Orlando buildings in a package deal valued over $208 million.

Notes and References

  1. Web site: Bank of America Center. Skyscraper Center. CTBUH. 2017-08-22.
  2. Web site: Bank of America Center. https://archive.today/20120728233732/http://www.emporis.com/application/?nav=building&lng=3&id=bankofamericacenter-orlando-fl-usa. dead. July 28, 2012. 2011-01-16.
  3. Web site: Orlando's Multi-Spired Bank of America Tower Sold to Parkway Properties - High Rise Facilities. High Rise Facilities. 17 January 2015. https://web.archive.org/web/20140720082518/http://highrisefacilities.com/orlandos-multi-spired-bank-america-tower-sold-parkway-properties/. 20 July 2014. dead.
  4. Web site: Critic calls Austin architecture 'wretched excess' . Tyson, Kim . Austin American-Statesman . January 18, 1986 . June 10, 2019.
  5. Web site: Orlando Sentinel - Du Pont Centre.