ORLANDO-With no anchor signed, Crescent Resources still plans a December ground-breaking on a 250,000-sf shopping center as part of the planned 80-acre Gateway Center office development in suburban Altamonte Springs.

The estimated hard construction cost of the retail project is $25 million. The shopping center will be built on the 32-acre Green Acres RV Park, which is part of the Gateway Center project. F.F. South is Crescent’s partner in the retail venture.

The first planned office building at Gateway Center is a spec, 190,000-sf structure whose estimated hard construction cost is $28.5 million. One million sf of office is planned at Gateway Center.

Crescent is also developing projects at two other major parks–Primera at suburban Lake Mary and the Central Florida Research Park in east Orange County. The developer’s 90,000-sf building at the Central Florida Research Park is about 100% leased. Another spec 120,000-sf structure is expected to be finished in December.

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