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The Oviedo Marketplace site is located along the SeminoleWAY technology corridor, at the intersection of Red Bug Lake Road (East Mitchell Hammock Road) and SR-417 Greeneway. SeminoleWay, a high-tech corridor along SR-417, is the northern portion of Orange County’s Innovation Way, links both Orlando and Orlando-Sanford International Airports, the University of Central Florida, Orange County’s new “Medical City” at Lake Nona, Seminole State College and the Kennedy Space Center.
The Oviedo Marketplace site consists of 11 parcels, totaling about 127 acres. The Oviedo Marketplace site is characterized by the presence of the Oviedo Marketplace Regional Mall. This retail and entertainment destination is home to over 70 dining, entertainment and shopping facilities. Potential reuse opportunities may exist within the Oviedo Marketplace building for tenants requiring large or small retail spaces. This featured site also includes the Oviedo Marketplace Medical Center property. This site currently contains healthcare offices and a Centra Care health clinic facility, a subsidiary of Florida Hospital and Adventist Health.
Other features of the Oviedo Marketplace site include existing commercial and professional development and several undeveloped parcels surrounding the Marketplace Mall. The largest vacant parcels are parcel number 5 (6.96 acres) parcel number 6 (3.92 acres), parcel number 7 (3.66 acres), and parcel number 8 (1.86 acres). A significant portion of parcel number 1 (13.7 acres) and parcel number 3 (5.51acres) are also vacant. There are under-utilized parcels and buildings near the Oviedo Marketplace Mall that offer long-term adaptive re-use potential. Out-parcel development opportunities also exist in this area.
The Oviedo Marketplace sites are located within one of Oviedo’s new SEED Areas (Seminole Economic Enhancement Districts). This enables developers access to apply for a range of site development incentives including:
- $2,500 Job Bonus Refund for each new job created in a designated SEED area by an eligible business;
- Sales Tax Credit on building materials purchased for the construction of a housing project or mixed-use project; and
- If you enter into a SEED Site Rehabilitation Agreement (SSRA), you will be eligible for:
- 50% Voluntary Cleanup Tax Credit (VCTC) applicable to Florida’s corporate income tax;
- 25% Additional VCTC if the property is redeveloped with affordable housing; and
- State Loan Guarantees for primary lenders, up to 50% on all brownfield (SEED) sites and up to 75% if the property is redeveloped as affordable housing.
Federal benefits that may also be available for development in the Oviedo SEED areas include:
- Site-Specific Activities Grant to DEP to conduct Phase I or II Environmental Assessments and/or limited source removals for eligible recipients using federal grant funds; and
- National Brownfields Assessment Revolving Loan Fund and Cleanup Grants Brownfields Federal Tax Incentive that allows environmental cleanup costs to be fully deducted in the same year they occur. For additional information regarding SEED incentives contact Bryan Cobb at (407) 971-5750
This prime location is perfect for Office, Retail, Commercial development, reuse opportunities and the development of professional and medical facilities to complement Florida Hospital’s Centra Care Walk In Urgent Care facility and the Radiology / Imaging facility (Adventist Health System) located on parcel number 3.
For information about space availability within the Oviedo Marketplace facility please contact Oviedo Marketplace at (407) 977-2400.
