Real Estate Development near Orlando Fashion Square
Orlando is the hub for Hollywood based theme parks, amazing nightlife, the world’s biggest multinational companies, and without a doubt, awesome shopping destinations. The Orlando Fashion Square is one of the biggest and best shopping malls located in downtown Orlando, and attracts many locals and tourists from around the world. It also has a cinema multiplex, owned by Premiere Cinemas that opened in 2005.
Orlando Apartment construction proposal near Fashion Square
Due to its prime location, real estate development near Orlando fashion square is on the rise. One Orlando real estate developer was interested in a site for the construction of a 450-unit apartment complex, situated near the mall. However, neighboring residents of Audubon Place condos raised concerns of accumulating traffic. Nearby residents, including city officials said that traffic and congestion have to be taken into consideration before approval of any new construction, among other factors. Residents also fear that a four-story building will take away that neighborhood feel. Orlando is still deliberating on this subject.
Revamping of Orlando Fashion Square Mall
Orlando realtors are looking to establish a new building by Westin Hotel in the Orlando fashion square mall area, which is inviting a lot of speculation. The entire project, estimated at $25 million, and to be undertaken by UP Development Inc., includes revamping the entire property, relocating tenants, demolishing that area and building the hotel lobby, restaurants and a day spa, with the hotel rooms above that. Orlando industrial guru, John Crossman supports the addition of a reputed hotel inside the mall, as nowadays the trend of having boutique stores inside malls is slowly disappearing. Crossman gives three reasons why he believes a hotel inclusion is a smart move for the mall:
• A hotel attracts more tourists who are willing to spend more money.
• Hotel visitors are far less likely to return purchased items at the mall due to lack of time.
• A hotel consumes a lot of retail space which is preferable since there is lack of retailers.
With the revamp already in place, residents have already begun shifting. During the interior demolition of the mall, some tenants, like the Coliseum of Comics and Champs, were relocated into other spaces. The second story of the mall will now accommodate a new 17,049 square foot Strike Outs bowling arcade and a Hershey’s Shake Shoppe, owned by UP Development. The mall is also partners with Orlando Magic.