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Construction on Orlando Magic complex could begin this summer

The soccer stadium currently being built in Florida is not the only facility related to sports in the state that is under construction. Downtown Orlando is slated to be the home of a $200 million sports and entertainment complex for the Orlando Magic. If all goes as planned, construction on the first phase of the three part plan, will take place this summer.

This phase includes three media towers, a parking garage, two retail kiosks and building comprised of 42,000 square feet of retail and 121,800 square feet of office space. Later stages will create additional parking garages, retail space, a residential tower and a hotel with retail and convention space.

Before construction on the first phase can begin, the city of Orlando Municipal Planning Board must first provide approval of the master-plan. The vote on this matter will take place later this month. This is only one of numerous issues that need to be addressed in the course of the project. Purchase of the land upon which this phase is supposed is to be built must be completed as well.

A large commercial real estate project such as this one has an impact on the area economy. For example, this project is expected to provide employment to thousands of workers. With so much on the line for not only the team, but area residents as well, it is important that all matters that arise in the completion of this project are handled correctly. To make sure this happens, the use of an attorney with experience in the area is imperative.

Source: Orlando Business Journal, “Orlando Magic detail plans for Phase 1 of new $200M downtown complex,” Anjali Fluke r, May 15, 2014

Mon Aug 27, 1:30pm

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