Orlando Fashion Square [Renovation in Progress]

[JFW657]

Alexan at Audobon apts at Fashion Square

Apartment plan could breathe new life into Fashion Square area

Orlando Fashion Square mall could be joined by 358 new apartments, tying the Cady Way Trail and Baldwin Park into one of the city's oldest shopping districts.

Plans call for a $50 million complex, the Alexan at Audubon, mirroring the urban-style apartments that have grown popular in the downtown area.

The apartments would border the mall on its northeast side, at the southeast corner of Maguire Boulevard and McCullough Avenue.

The apartments could breathe new life into the aging urban mall by providing a new pool of young tenants who would eat and shop nearby. The project is part of a surge of new apartments in Orlando's urban core. It is also near the Cady Way Trail for biking, which is a popular feature for new apartment developments.

more here: http://www.orlandosentinel.com/classified/realestate/os-fashion-square-apartments-20160407-story.html

 

 

[orlandoguy]

Alexan at Audobon apts at Fashion Square

Apartment plan could breathe new life into Fashion Square area

Orlando Fashion Square mall could be joined by 358 new apartments, tying the Cady Way Trail and Baldwin Park into one of the city's oldest shopping districts.

Plans call for a $50 million complex, the Alexan at Audubon, mirroring the urban-style apartments that have grown popular in the downtown area.

The apartments would border the mall on its northeast side, at the southeast corner of Maguire Boulevard and McCullough Avenue.

The apartments could breathe new life into the aging urban mall by providing a new pool of young tenants who would eat and shop nearby. The project is part of a surge of new apartments in Orlando's urban core. It is also near the Cady Way Trail for biking, which is a popular feature for new apartment developments.

more here: http://www.orlandosentinel.com/classified/realestate/os-fashion-square-apartments-20160407-story.html

 

 

That's a rosy prediction, but I'm bearish on this one. With the state Fashion Scare is in now, I wonder if many of those young tenants will spend time or money at this aging mall. The residents of Baldwin Park, with its large number of apartments, certainly didn't provide a boost.

The selection of stores is dreadful, and the ones that are there feel sad and dated. Winter Park and Millenia provide the more upscale shopping experience many people are looking for these days. I hope they can pull it off but I wouldn't bet money on it.

[JFW657]

I guess it depends on what kind of businesses they attract there.

Maybe if they concentrate less on traditional mall retail and more on a mixture of retail, dining and entertainment, they might make a go of it.

 

[Jernigan]

This isn't being done to save the mall. 

And the residents of Baldwin Park haven't provided a boost to their own "master-planned" retail so I wouldn't put that as a slight on the mall.  

Edited April 9, 2016 by Jernigan

[orlandoguy]

This isn't being done to save the mall. 

And the residents of Baldwin Park haven't provided a boost to their own "master-planned" retail so I wouldn't put that as a slight on the mall.  

Fair enough, but I do think the comment about Baldwin Park is relevant to the Sentinel story.

When BP was being developed, there was talk of how an influx of that many residents within such a short distance from Fashion Square would prop it up and help revitalize the mall. With the writer implying these new onsite apartments will provide a new pool of shoppers, it feels a bit like history repeating itself.

[Jernigan]

Yeah but it's the Sentinel.   The average age of their reporters went from 40 something to 19 over the last 12 months.  

[Jernigan]

Demo permit for 41,822 SF Anthem College site applied to on 7/5

[UngaBungalow]

Interesting!

[JFW657]

It's been reported on the local news yesterday and today that the Fashion Square Sears will be permanently closing in November.

The rest of the redevelopment plans are reportedly on hold.

Kinda sad.

End of an era.

 

 

 

[Jernigan]

I can't find this on any local news sites - can anyone else?

[Kaz]

Is the auto center staying?

[Dale]

"Orlando Fashion Square, you're dead to me."

-- Mr. Wonderful --

 

 

[steve_o]

2 hours ago, Kaz said:

Is the auto center staying?

No.  Closes in 2 months:

http://www.wftv.com/news/sears-to-close-at-fashion-square-mall-as-future-of-property-remains-uncertain_20160803203303/416523915

[Jernigan]

So who owns that land?  Could make for some nice street front development up against Maguire

[popsiclebrandon]

Oh to be rich. Its a good piece of land with the right idea.

[HankStrong]

Wow.  I use that Sears Auto Center.

[jack]

I did not realize that there are multiple owners. Seritage owns the Sears site. Makes it hard to redevelop when you don't control everything. 

[orlandoguy]

I did not realize that there are multiple owners. Seritage owns the Sears site. Makes it hard to redevelop when you don't control everything. 

Sears is unique among major department stores in that it owns (or once owned) the land beneath most of its stores across the country. It's actually a more valuable company for the amount of land it owns rather than its retail assets that make up the Sears and K-Mart department stores. Other department stores seen at malls across America like Macy's, JC Penny, and Dillard's just lease their space from the mall owners.

As the company began to die the retail world's slowest death, Sears Holding Corp began selling off their real estate assets to companies like Seritage to shore up the company's financials, and the new owners then lease the space back to Sears.

The saga of Sears is a fantastic, fascinating case study on how not to run a successful company.

[UngaBungalow]

Apparently people are circling that property already. Possible residential project to be pitched soon. 

[orlandoguy]

Apparently people are circling that property already. Possible residential project to be pitched soon. 

Is this in addition to the commercial tenants the Sentinel reported about today?

[neoanderz]

The Sentinel reported the Sears properties will be torn down and replaced by an Orchard Supply Hardware, Floor & Decor, and "small shops and restaurants".

[neoanderz]

Also, I found this article which gives some background on Orchard Supply Hardware (which seems to be coming out of nowhere all of a sudden).  It was a bankrupt hardware chain from California which Lowe's bought out.  More interestingly, they are utilizing the stores now to expand into new areas with a footprint that is smaller in size than a Lowe's or Home Depot but larger than say ACE hardware.  It is hitting a sweet spot in size that I think allows them to get a bit closer into urban cores than Home Depot can.  I'm optimistic and curious to see it..

[John Hargrove]

I would love to see this area revitalized. Would be nice if it were a master planned mixed use development. That is prime real estate and rents are beginning to soar in that area.

[JFW657]

11 hours ago, neoanderz said:

Also, I found this article which gives some background on Orchard Supply Hardware (which seems to be coming out of nowhere all of a sudden).  It was a bankrupt hardware chain from California which Lowe's bought out.  More interestingly, they are utilizing the stores now to expand into new areas with a footprint that is smaller in size than a Lowe's or Home Depot but larger than say ACE hardware.  It is hitting a sweet spot in size that I think allows them to get a bit closer into urban cores than Home Depot can.  I'm optimistic and curious to see it..

Don't know if anyone remembers them, but back in the 90's there was a chain of medium sized home improvement/hardware stores around here, called White Rose. There was one in The Crossings at the corner of Lancaster and SOBT, and one on Semoran just south of Curry Ford where Aldi's and a Bright House office is now.

Orchard Supply sounds like it might be something along the lines of that. 

Nice looking stores, though...

 

[orlandoguy]

It's not often Downtown gets something new to Metro Orlando at the same time as Winter Park, so that's kind of nice.