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By Yasmene Warren
The City of Orlando is always finding new ways to expand and keep up with the demand of its ever-growing population.
Last week, the Downtown Orlando Community Redevelopment Area Plan had its purchase of four catalytic properties approved by the city council, which will further support the evolution of the downtown area. Let’s get into the developments that are set to unfold!
205 & 215 East Central Boulevard
This development is part of the CRA’s vision of the Lake Eola Master Plan, which will create a bigger, more formal gateway to the park. This gateway will provide more public gathering space to the downtown area.
"Since its renovation over 30 years ago, Lake Eola Park has become a destination for residents and visitors alike. It is the home of countless events both large and small, an award-winning Farmers Market, and has been a key component of the resurgence of downtown Orlando into the vibrant city center that it is today. Having hosted millions of annual visitors over the last 30 years, the City of Orlando has re-envisioned the park in anticipation of the next 50 years."
The Lake Eola Master Plan includes new developments such as wider sidewalks, turtle rest areas, and replacements of public restrooms.
These properties are tucked between the pocket park project at Rosalind Avenue and Central Boulevard and the larger Lake Eola Park.
30 South Orange Avenue
The CRA initially leased this property in the fall of 2023 in order to develop a public plaza with temporary improvements. Thankfully, now with this purchase some permanent solutions can be made to further the vision of downtown Orlando.
What has been currently serving as a pop-up park/open space area will soon be developed into something in likeness with New York’s Paley Park and Greenacre Park - an outdoor gathering space between two buildings with greenery and public seating.
Images by Paley Park (left) and Greenacre Park (right)
This cornerstone location in downtown Orlando’s urban core was also once home to the historic O’Connell Building before it burned down in 2005.
1 North Orange Avenue
Located in downtown’s core at Orange Avenue and Central Boulevard is where you’ll find this strategic parcel. It currently sits as a vacant, commercial office building.
The CRA seeks to convert what used to be the 10-story State Bank of Orlando and Trust building into a variety of new uses from a two-story restaurant space to residential/attainable housing.
This area is known for its lack of parking availability, and something David Barilla, executive director of the Downtown Development Board and the CRA, shared is that a valet lane could be carved into the public right-of-way to guide guests to the bottom floor restaurant use.
Overall
With $20 million worth of funds approved for this plan, there are certainly big changes coming to the downtown Orlando area! This is in addition to some of the improvements we have seen, and continue to see, with the developing Orlando Magic Project and the newly announced plans for "The Canopy" under I-4.
Following the approval is a 60-day due diligence period, followed by a 30-day closure period of up to three extensions of 90 days. Closure is estimated to be 90 days to one year.
That’s a long time to wait, but with the changes in store for the downtown area, it’ll all be worth it!
Downtown Orlando
Known as the city’s heart, downtown Orlando is the ultimate community to reside in. It’s home to hundreds of local restaurants, bars, and businesses and is a thriving urban oasis for those interested in city-living.
Downtown Orlando grows faster by the minute and is constantly developing to keep visitors on their toes and residents happy. If you want to be a part of what’s to come, let our team help you find your new place to call home!
The Orlando Real is sponsored by The Pozek Group. If you’re thinking of buying or selling a home in Orlando, reach out and we would love to help!
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