The days are numbered for the Golden Corral Restaurant near the University of Central Florida campus in Orlando.

The Progressive Capital Group paid $7.2 million for a 3.6-acre property near the intersection of East Colonial Drive and Alafaya Trail. The seller was a Golden Corral franchisee.

Plans call for the redevelopment of the restaurant property into a student housing community known as 50 South Student Housing with 555 bedrooms spanning 166 apartment units. The Orlando Business Journal reports the project is entitled and in for permitting, anticipating groundbreaking sometime in 2024 and a 24-month construction timeline. The project could cost around $50 million to build, based on construction industry standards.

A site plan for the project shows a parking garage with 467 spaces adjoining a five-story, 203,862-square-foot apartment building. A courtyard with a pool and other amenities is in the center of the wraparound apartment building. The Golden Corral restaurant at the location is still open, and it is not immediately clear when it will close.