Demolition crews have started tearing down the former Macy’s building at Oviedo Mall in Seminole County, marking the first phase of a multimillion‑dollar redevelopment that aims to convert the aging retail center into a mixed‑use destination, according to WESH.
Development director Kevin Hipes said the project will replace the former anchor store with 400 new apartment units. An estimated $125 million is being invested to build on the 15‑acre parcel where Macy’s once stood. A second developer is contributing roughly $100 million to construct an additional 325 apartment units on the mall’s west side, a portion that does not require demolition.
Hipes explained that the shift reflects a broader trend in retail real estate: “The key to malls today, 1,000,000 square feet of retail doesn’t work anymore. Many malls are converting from a 100% retail mall to mixed‑use eat, sleep, work, play.” By “bookending” the mall with apartments, the developers hope to drive foot traffic to existing tenants, which currently include a Toys R Us, a Regal movie theater, a bookstore and a GameStop.
The redevelopment plan also envisions repurposing the vacant former Sears space for two entertainment businesses, though specific tenants have not yet been announced. Hipes noted that the overall construction timeline is expected to span about two years, with new tenants projected to move in by 2029.
Local officials and residents have watched the project evolve for eight years, according to Hipes, who said multiple property owners were involved in the lengthy planning process. “A lot of people heard me talk about this for the last eight years, took a long time to work out because there are multiple property owners,” he said.
What’s next: Construction is slated to continue for roughly two years, and developers anticipate that the first wave of new apartment residents and retail tenants will be on‑site by 2029, providing additional housing options and revitalized amenities for the Orlando‑area community.
Sources: wesh.com
