The Orlando City Council on Monday approved a development team's plan to build a new sports and entertainment district across from the Kia Center in downtown Orlando. The Orlando Magic, owned by the DeVos family, is a 20% stakeholder in the project. Other partners are SED Development LLC, Machete Group Inc., and JMA Ventures LLC. The Orlando Magic owns the 8.5-acre property he has owned for 11 years. According to members of the development group who spoke to WESH 2 News, development has stalled for a variety of reasons, including the coronavirus pandemic and funding issues. This is the land where the former police headquarters and Orlando Union Rescue Mission were located. The business, which has been in operation for decades, is ready and being promoted as the South East's next great entertainment complex. To jump-start the stalled project, Orlando city commissioners approved incentives. That's up to $40 million in property tax refunds, called “tax increment recovery,” and more. $2.5 million will go toward construction of the event space. Funding comes from the Community Redevelopment Agency, which collects and uses funds generated from annual property taxes generated by rising property values within the downtown area. Commissioners said the $500 million investment in development is worth it. “We have to give people a reason to want to come downtown. This is one of the reasons why they can do so. One,” Commissioner Jim Gray said. “This is going to be a huge change in so many areas” how. I think this will not only inspire other businesses, but there's a lot of vacant office space that needs to be filled, and it will also bring people back downtown,” added Commissioner Tony Ortiz. Ta. Machete Group founder David Carlock told WESH 2 News. “The work that the mayor, staff and City Council have done in revitalizing downtown has been extremely important, and we believe this is another important step forward in that regard,” Carlock said. One of his sports and entertainment districts will be 900,000 square feet, including a 260-room hotel, 270 residential units and a 3,500-seat live entertainment venue. It also includes office space and a parking garage with more than 1,100 spaces (although it's true that the complex is located across the street from the arena and that the Magic are involved in the project, the developers say the entertainment area “One of the things that we've been very focused on with this project is that we want to build a 6 a.m., independent, regardless of its connection to the Kia Center or the NBA franchise. “It's about creating a place where you can stay active until 11 p.m., so this project will provide a variety of live-work-play experiences, amenities and services that bring something new to downtown every day.” “The commissioners hope this project will help encourage people to come downtown for games, concerts, events, etc.,” Locke said. There has to be a reason to keep it and make it a good experience, not just a good concert or a good ballgame or a good show at a performing arts center,” said Gray, who spoke to Downtown on Monday. “We feel there's a huge opportunity for downtown to become a little more attractive place,” Tristen Thomson said, adding that it could create a reason for people to stay longer and focus on restaurants and entertainment. The project, which will feature about 120,000 square feet of retail, “as long as the environment is safe, I think it will allow people to actually want to stay here instead of coming by car,” and Essence. Carlock said the sports and entertainment district has the potential to attract as much traffic as the former Church Street Station did in the 1980s. Street Station was one of the state's top tourist attractions under the direction of developer and owner Bob Snow. With $42.5 million in incentives from the city, the project is moving forward. A groundbreaking ceremony is scheduled for later this year, with the first phase expected to open in late 2026 or early 2027. Church Street and Kia Center will be the last to be developed.
The Orlando City Council on Monday approved a development team's plan to build a new sports and entertainment district across from the Kia Center in downtown Orlando.
The Orlando Magic, owned by the DeVos family, is a 20% stakeholder in the project. Other partners are SED Development LLC, Machete Group Inc., and JMA Ventures LLC.
The Orlando Magic have owned the 8.5-acre property for 11 years. Still, development has stalled for a variety of reasons, including the coronavirus pandemic and funding issues, according to members of the development group who spoke to WESH 2 News.
The land that once housed police headquarters, the Orlando United Rescue Mission and other businesses for decades is being primed and hyped as the Southeast's next huge entertainment complex.
Orlando city commissioners approved incentives to jump-start stalled projects. That includes up to $40 million in property tax rebates, called Tax Increment Recapture, and up to $2.5 million for event space.
This funding comes from the Community Redevelopment Agency, which collects and uses funds generated from annual property taxes generated by increased property values within the downtown area.
Commissioners said the $500 million investment in development was worth the incentives.
“We have to give people a reason to want to come downtown, and this is one of the reasons they can do it,” Commissioner Jim Gray said.
“This is going to be a game-changer in so many ways. Not only will it stimulate other businesses, but there are a lot of empty offices and spaces that need to be filled, and I think it will also bring people back. “To downtown,” Commissioner Tony Ortiz added.
Machete Group founder David Carlock told WESH 2 News.
“The work that the mayor, his staff and the City Council have done in revitalizing downtown has been extremely important, and we believe this is another important step forward in that regard,” Carlock said.
The first phase of the sports and entertainment district will be 900,000 square feet and include a 260-room hotel, 270 residential units and a 3,500-seat live entertainment venue.
It will also include office space, a parking garage with more than 1,100 spaces (1,140), and 1.5 acres of green space for “urban living.”
While it's true that the complex is located across the street from the arena and that the Magic are involved in the project, developers have said they want to build a separate entertainment area regardless of its ties to Kia Center or the NBA franchise. ing.
“One of the things we are very focused on with this project is to create a place where you can be active from 6 in the morning until 11 at night. It offers play experiences, amenities and services that bring something new to downtown every day,” Carlock said.
And commissioners hope the project will help encourage people who come downtown for games, concerts and performances to stay there.
“There has to be a reason to attract people and keep them downtown and make it a positive experience, not just a good concert or a good ball game or a good show at the performing arts center,” Gray said. “This project accomplishes that.”
People we spoke to downtown Monday said people could stay there longer with a reason.
“We feel there is a huge opportunity for downtown to become a little more attractive,” Tristen Thomson said.
And the project, which has about 120,000 square feet of retail focused on restaurants and entertainment, could help.
“I think as long as the environment is safe, people can actually want to stay here instead of driving in and essentially leaving,” Thomson said.
Carlock said the sports and entertainment district has the potential to draw crowds comparable to the old Church Street station.
In the 1980s, Church Street Station was one of the state's premier tourist attractions under the direction of developer and owner Bob Snow.
Carlock acknowledged that the project would have moved forward with a $42.5 million incentive from the city.
Construction is expected to begin later this year, with the first phase expected to open in late 2026 or early 2027.
The parcel of land near Church Street and Kia Center will be developed last.
