South Florida company Accesso has officially purchased a site near Walt Disney World for its new entertainment district, Ovation Orlando. Accesso paid over $70 million in the deal, which was finalized on December 30.
Ovation Orlando
The district will be 670,000 square feet of retail, dining (including musical themed restaurants), live music, 740 hotel rooms and condos, and more. The Ovation Orlando website states it will open in 2027.
The 76-acre property sits at the northeast corner of I-4 and U.S. 192 in Osceola County. It’s home to the abandoned Orlando Sun resort, which closed in 2012. Accesso will begin demolishing the old resort buildings in two weeks.
Accesso had the property under contract for over three years but weren’t able to develop yet due to various issues.
“I feel very relieved, but I also want to say that I was always very confident that this team would be able to pull this project together,” Bill Shewalter, Executive Vice President of Accesso Development told GrowthSpotter. “The confidence was due to the location, a mile east of Disney across from Celebration on Interstate 4 at a full interchange in the most dynamic tourist market in the country, and on the theme park corridor, which is arguably the most successful retail quarter of highway in America.”
Ovation is estimated to cost $1 billion. Accesso will be eligible for up to $6.5 million in reimbursements for demolition as part of an incentive package from Osceola County.
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‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source wdwnt.com ’
