Apollo Rida, Poland
ChampionsGate, Florida
Hilton, Orlando
Please click here for contact information for the home office and various regional offices of Rida Development Corporation.
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| David Mitzner |
"To create a first class real estate organization of uncompromising integrity dedicated to the development of, and investment in, economically successful real estate of the highest quality"
By strictly adhering to this philosophy, which guided David Mitzner to establish the company in 1972, Rida Development Corporation has achieved an international reputation for creating innovative, high quality and - above all - economically successful real estate.
Headquartered in Houston Texas, with major operating divisions in Orlando, Florida, and Central Europe, Rida's principal officers, David Mitzner, Jacob Mitzner and Ira Mitzner have assembled a dedicated and highly competent team of outstanding professionals to create and maintain a quality - and ever expanding-real estate portfolio.
Rida, the managing partner of Apollo-Rida Poland, (and a strategic partner to Apollo Real Estate Advisors) is among Poland's largest and most well known private real estate investment groups. The Polish portfolio alone, owned and managed by Rida includes over eight million square feet and is valued at over $2 billion. In addition, Rida is an experienced owner developer in Germany, Russia and the Ukraine, as the managing partner of over three million square feet in those countries.
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| Jacob, David, Ira Mitzner |
In the United States, Rida has become one of the South's most active development groups, with an additional $2 billion under development or in final planning.
Worldwide, Rida today owns or is currently developing retail, office, distribution, residential, hotel, and mixed use land developments with a total value in excess of $5 billion.
The pages that follow focus on Rida's expertise in each of its project sectors, highlight specific examples of outstanding and innovative development achievements, and detail the "Rida Philosophy" of real estate.
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HOTEL DEVELOPER HAS BIG MXD PLANS DOWNTOWN
By Carl Cronan (editor of Real Estate Florida.)
ORLANDO, Fla. - (June 9, 2008) - Rida Development Corp. has more than a million sf of mixed-use development in mind for its newly acquired 5.6-acre site at 400 N. Orange Ave. The Houston-based company bought the site for $15.1 million from Downtown Plaza LLC, says Grubb & Ellis Commercial Florida.
While Houston-based Rida Development is known primarily for hotels, it is also determined to pursue retail and office components on its newly acquired site. However, company executives admit they will already need to make adjustments based on current economic conditions.
"We will probably go back to the city with a slightly different plan," Marc Reicher, senior vice president with Rida Development in Orlando, tells GlobeSt.com. The most likely adjustments will be made to the project’s office component, while the hotel and retail segments will move forward as planned, he says, adding that "we’d like to be able to do it all in one phase."
David Calcanis, vice president of Grubb & Ellis' Orlando-based Land Group, says the site is the last large parcel in the center of Downtown Orlando and has been approved for four towers housing 907,000 sf of offices, 76,000 sf of retail and restaurants, 150 residential condominium units, 150 hotel rooms, 50 residential/office lofts and a parking garage with more than 2,500 spaces. The land encompasses an entire block bordered by Amelia and Livingston streets, an exit ramp to Interstate 4 and the new Lynx Center Transit Terminal.
Rida Development is certainly no stranger to the Central Florida market, having built the 1,500-acre ChampionsGate golf community in northwest Osceola County and the 1,400-room Hilton Orlando Convention Center hotel. The firm's local investments are approaching the billion-dollar mark, with the 400 North Orange project estimated at $250 million, Reicher says.
"We like to think we have a good understanding of mixed-use development," he says. "We want to create something smart, something vibrant and something that enhances this part of the Downtown corridor."
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