ORLANDO—The site that is now home to Flea World could soon hostone of the largest mixed-use redevelopments in Seminole CountyHistory. A development team applied to the county government forthe rights to convert Flea World, along with another 118 acres ofland, to a project that would ultimately include single-familyhomes, multifamily buildings, andoffice and retail space.

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Syd Levy, the owner of the Flea World property,organized a development team of RM Strategies, inWinter Park, FL and IBI Group of Maitland, FL.Paul Partyka, a partner at NAIRealvest in Orlando, is the broker in the deal. Thestrategic land fronts both US Highway 17/92 and Ronald ReaganBoulevard at County Home Road.

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“If approved, the 118-acre Reagan Center as proposed would havejust under 400 apartments, 80 townhomes, 17 acres of commercialoffice, 18 acres of retail with thirty percent left asconservation,” says Partyka. The property is currently valued at$15 million. Partyka estimates the new mixed-use development wouldbe worth over $200 million at build out.

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“Reagan Center will be a real shot in the arm for the US 17/92corridor,” says co-development manager RichardWohlfarth, principal of IBI. Seminole County governmenthas been looking for a catalyst project to spark redevelopment inthe US 17/92 corridor, giving the Regan Center a strong chance forapproval.

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“I can think of no better location in the corridor to spurredevelopment,” says said co-development manager RandallMorris, principal of RM. “This large property is directlyopposite Seminole County Government Operations Center and SeminoleState College and bordered by two divided roadways with closeaccess to the Seminole County Expressway.”

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The application for Reagan Center, including a conceptual plan,is being submitted this week. Public hearings on the proposal wouldbe fall in the spring of 2015. Upon approval, out parcels and someresidential sites would be available for immediate development.

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Flea World would remain open though the entire 2015 season. Levyhas announced his interest in replacing Flea World with a newmodern Farmers and Vendors Market/Mall at a new location to helpthe hundreds of dealers and thousands of customers who visit FleaWorld every week transition.

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