Oviedo on the Park to begin construction in next few weeks

Mixed-use developments have surged in popularity in the past 20 years.

It used to be that towns and cities liked to segregate residential areas away from retail and industrial spaces. It was thought that people preferred to have these spheres kept separate.

However, developers and municipal planners alike have discovered that people find concentrations of recreation, shopping and residences to be convenient and desirable, especially if they're attractively designed and thoughtfully planned out.

If you are interested in purchasing real estate, it is imperative that you protect your investment by fully understanding the legal risks and consequences of such a development by contacting the highly skilled attorneys at the Carr Law Firm, P.A.

We bring this all up because a new mixed-use development called Oviedo on the Park is expected to begin construction in the very near future.

The first phase of the project will include a lake, a park and 280 units of apartments. That phase is expected to begin in a matter of weeks and will be done by January 2014. The next phase will include some 85,000 square feet of retail space and between 160 and 170 townhomes.

From groundbreaking to final completion, Oviedo on the Park will take about five years to build. At a kickoff ceremony last week, the mayor of Oviedo said that all told, the development will cost around $200 million and will re-energize the area and give residents a place to meet, shop and live.

P.A.C. Land Development of Winter Park is overseeing the project.

Some mixed-use developers have difficulty getting clearance for their projects because communities have zoning and usage ordinances that would prevent such developments. In some cases, it takes a professional understanding of these rules and how to request a variance in order for them to proceed.

Source: The Orlando Business Journal, "Construction of Oviedo on the Park to begin in a few weeks," Megan Anderson, March 22, 2013

  • We wrote about this topic because commercial real estate developments are of interest to us. If you would like to learn more about the nature of that area of our work, you are invited to visit our Commercial Real Estate page.