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Nov. 26, 2012

Retail Phase of 14.5-Acre Mixed-Use Development Underway, Multifamily and Office to Follow

By Georgiana Mihaila, Associate Editor

DeBartolo Development, LLC and Forge Capital Partners, LLC have recently broken ground on The Fresh Market at Mills Park—the first phase of a 14.5-acre mixed-use development that will rise at the intersection of Mills Avenue and Virginia Drive in Orlando.

The approximately 24,000 square-foot specialty neighborhood grocer Fresh Market will anchor The Market at Mills Park, the retail portion of the project, set for completion in 2013. The ceremonial groundbreaking, held on November 12, was attended by Orlando Mayor Buddy Dyer, Commissioners Robert F. Stuart (District 3), Patty Sheehan (District 4) and Samuel B. Ings (District 6).

“The groundbreaking of the urban infill development, Mills Park, is exciting because it is evidence that Orlando is moving out of the recession and into prosperity,” said Mayor Buddy Dyer. “I am thrilled to see retailers such as The Fresh Market believing in Orlando.”

The retail project features a park element consisting of small freestanding retail buildings offering treats like ice cream and adult and kid-friendly beverages as well as a bike repair shop surrounded by subtle landscape and water features for those traveling on the Orlando Urban Train.

Following the retail component, Mills Park will add multifamily residences as well as office space. The urban mixed-use development will be located minutes away from Florida Hospital’s main campus which serves 1.5 million patients annually and employs 1,000 physicians and up to 5,000 associated staff members. Centrally located midway between Downtown Orlando and Winter Park, the mixed-use development will be within walking distance of major cultural centers including The Orlando Museum of Art, The Orlando Science Center, Orlando Shakespeare Theater, The Mennello Museum of Folk Art and the Orlando Repertory Theater.

Developers DeBartolo and Forge Capital Partners have acquired the 14.5-acre site of the city-approved development in April 2011 through their joint venture investment fund, Community Reinvestment Partners II, LP. The two companies have retained Pelloni Development Corporation—the original developer of the project—to develop the medical and professional office component.

Image via http://www.millsparkorlando.com/

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