by Donald Wood
Last updated: 10:15 AM ET, Thu April 25, 2024
Orlando city officials announced they approved the
construction of an 8.5-acre sports and entertainment district near the Kia
Center, which will cost $500 million.
According to FOX
35 Orlando, the 900,000-square-foot mixed-use project will include a
full-service 260-room hotel, 270 residential units, a 3,500-person
entertainment venue, Class-A office space, parking garage, 1.5-acre
multipurpose outdoor area and multiple dining and shopping options.
“We are excited to move on to the development phase of the
sports and entertainment district,” developer Machete Group, Inc. founder David
Carlock said. “The city has been a tremendous partner to us since the start of
the process, and we are looking forward to developing a vibrant new place in downtown
Orlando.”
The massive project is expected to break ground in late 2024
and is slated for completion in March 2027. Orlando
representatives estimate the new development would create 3,400 temporary jobs
for the region.
“With today’s approval and the leadership of Mayor Dyer and
City Council, we are looking forward to the next phase of the project and
bringing the sports and entertainment district to life,” Orlando Magic CEO Alex
Martins said.
“We are thrilled to have JMA Ventures and Machete Group
guide the development of this joint venture with the DeVos Family and the
Orlando Magic,” Martins continued. “It will be a great place to live, work, and
play in the heart of downtown and will provide significant job and contract
opportunities during and after construction.”
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