With proposed $20 million land buy, Orlando eyes Lake Eola expansion, ‘iconic restaurant’ and housing
In the latest move to boost its urban center, Orlando is aiming to buy four downtown properties in the coming weeks, making a roughly $20 million investment into turning dormant locations into “iconic” places.
The proposed purchase includes 205 E. Central and 215 E. Central, allowing the city to open up its signature Lake Eola Park to the rest of downtown. Also in the portfolio are 30 S. Orange Ave., a vacant lot leased to the city as a park, and 1 N. Orange Ave., a 1880s-era bank building that has been empty for about 15 years.
“What I think you really see us doing is positioning ourselves in ways to be in the driver’s seat for downtown to make the changes that I think we’re all excited to see made,” said David Barilla, the executive director of the city’s Community Redevelopment Agency.
The purchases go before the CRA Advisory Board Wednesday, and if approved, head to the city council for a vote on March 11, said Ashley Papagni, a city spokesperson.
The proposed buys come as city officials have been planning for a downtown of the future, shifting its focus from a nightlife hotspot into a neighborhood with well-rounded amenities for residents and visitors. An updated downtown master plan, titled Project DTO 2.0, is due later this year and is expected to chart a roadmap to create more public spaces, and drive more foot traffic throughout.
If the sales win approval, Barilla said the city will likely move first to spruce up 30 S. Orange Avenue and create a permanent open space. The lot, which now has several picnic tables, has been otherwise vacant since the O’Connell Building burned down there in 2005. The three-story historic building made of brick was constructed in 1886.
Over the years, residents have tossed around ideas for what the lot could be, but without the city in control, they weren’t much more than fantasies.
“I see it as becoming a destination on the map, rather than just a convenient place you might pass by,” Barilla said.
The lot comes with a $1.36 million price tag.
Nearby, the city also hopes to take control of one of Orlando’s original high-rises at 1 N. Orange Avenue. The building, first built as the home of the State Bank and Trust Company in 1919, was also home to Orange County Government, the sheriff’s office and the Supervisor of Elections after the bank closed in the 1920s.
For about the past 15 years, it’s been vacant. Barilla said the city hopes to reposition the property for sale, with possible uses to include an “iconic” restaurant space on the first two floors, which resemble a mezzanine inside. On the 10 floors above, office space could be converted into affordable and attainable housing.
The $9.6 million property has challenges, as it is in need of extensive repairs and doesn’t have parking.
“It’s a very historic building,” Barilla said. “Contextually it’s at one of our main and mains…and could bring so much value if activated appropriately.”
For years, the city had been in talks with Chicago developer Marc Bortz to buy two buildings on Central Avenue, which officials hoped to knock down and open up Lake Eola Park to the rest of downtown. Bortz owns all four properties the CRA is seeking to buy.
The city gained control of the neighboring lot on the corner of Rosalind and Central avenues three years ago following a donation, cleared the site where a 7-Eleven was previously, and built a pocket park.
But the two buildings next door prevented a true expansion of the city’s signature park. Now the negotiating parties have finally reached a deal, with the CRA proposing to pay $8.4 million.
As Lake Eola Park prepares for a full facelift through a Master Plan, the addition of the two properties will allow for a true gateway into the area, said City Commissioner Patty Sheehan, whose district includes the park.
“I’m delighted,” she said. “I’m hopeful that it will receive council approval and we’ll be able to finally unite that corner of the park.”
