The long anticipated $500 million Sports and Entertainment district in downtown Orlando took a step closer to reality yesterday.
The Orlando Magic NBA Basketball team announced its development partners JMA Ventures LLC of San Francisco and Machete Group Inc of Houston.
The 8.5 acre site is located directly across the street from the Amway Center the home of the Orlando Magic and the Ice Hockey team the Solar Bears. Its also in close proximity to the Orlando City soccer's Exploria Stadium, and Camping World Stadium.
The exact details for what will be built has not been revealed. However it is likely to include a 260 room full service hotel with 16,000 sq ft of meeting and conference space, 270 residential units, 200,000 sq ft of Class A office space, 125,000 sq ft of retail, a 3,500 capacity live event venue, which would be like a Fan Zone with a giant TV screen, along with approximately 1100 parking spaces.
A start date for construction has not been slated yet, but it is likely to begin some time late 2024 with an estimated construction time of 2.5 years which would the finish date some time early 2027..
This is exciting for sports fans in Orlando downtown area, as the site has been sitting vacant since 2011. The complex has been compared to other projects such as L.A. Live across the street from the Staples center in L.A. also inspiration came from the "Downtown Commons" developed by the NBA's Sacramento Kings - JMA project.
Information for this blog came in part from Growthspotter.com and the Orlando Business Journal.
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