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Highrise-Approved Orlando Lot Up for Sale
A nearly vacant lot in downtown Orlando with zoning for the development of an apartment, retail and office tower with a parking garage has hit the market for $10 million.
The property at 319 N. Magnolia Ave. is being sold by Aureate Development, which bought the roughly half-acre property for $2.4 million in 2018. The Orlando Business Journal reports the property, situated next to SkyHouse Orlando near the county courthouse, has received approval from the city for a 26-story, mixed-use tower with a density bonus allowing up to 232 units, plus 6,000 square feet of retail space, 15,875 square feet of office space, and a 280-spot parking garage.
The property currently houses a single-story, vacant office building that would need to be demolished before redevelopment.
Aureate is the developer behind the Orlando College of Osteopathic Medicine in Horizon West, which welcomed its first class this year. Matt Hall, a broker with Tampa-based Bounat National, is marketing the property.
- ◦Sale/Acquisition
