The land that is currently home to Flea World could soon be home to one of the largest mixed-use developments in Seminole County history. A development team applied to the county for the rights to convert Flea World, along with another 188 acres of land, into a mixed-use project comprising single-family homes, multifamily units and office and retail space.
Globe St is reporting Syd Levy, the owner of the Flea World property, organized a development team of RM Strategies, in Winter Park, FL and IBI Group of Maitland, FL. Paul Partyka, a partner at NAI Realvest in Orlando, is the broker in the deal. The strategic property fronts both US Highway 17/92 and Ronald Reagan Boulevard at County Home Road.
If approved, the 118-acre Reagan Center as proposed would have 400 apartments, 80 townhomes, 17 acres of commercial office space, 18 acres of retail space and approximately 30 percent of the land as conservation. The property is currently valued at $15m with Partyka estimating the new mixed-use project’s worth at over $200m at build out.
The application for Reagan Center, including a conceptual plan, is being submitted this week. Public hearings on the proposal would be held in the spring of 2015. Upon approval, out parcels and some residential sites would be available for immediate development.
Flea World would remain open though the entire 2015 season.
