ORLANDO-Kimco Developers Inc. of New Hyde Park, NY and North American Properties Inc. of Cincinnati are joint venturing an estimated $100-million, mixed-use off-Downtown venture. The project is expected to have about 330,000 sf of retail, 70,000 sf of restaurant and boutique space, an undetermined amount of office and 300 condominiums.
Groundbreaking is expected by year end with anticipated completion by spring 2008, according to the developers' prepared statement and conceptual plans filed with the city's planning and development department. The developers didn't disclose the estimated hard construction cost of the project. However, area construction sources confirm for GlobeSt.com the undertaking will be in the $100-million range.
The 20-acre development site is about 1.5 miles from the city's central business district. The site is between Grant Street and West Crystal Lake Street, just north of East Michigan Street. SoDo will be North American's second Orlando area project. The company recently completed the 500,000-sf MarketPlace at Seminole Towne Center in Sanford, as GlobeSt.com previously reported.
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