Site work is expected to start in summer on the first phase of Magic Place, a mixed-use Central Florida development near Disney World designed by Pininfarina, an Italian firm best known for designing the Ferrari.
The first phase of Magic Place includes construction of a 25-story resort plus 40,000 square feet of retail stores and an office building with 20,000 square feet.
When subsequent phases are completed, Magic Place would have $1.7 billion of construction value in place including 250,000 square feet of retail space and 1,850 resort units including condos and hotel rooms, project manager James Mincy told the Orlando Business Journal.
“This really is going to cater to the luxury market,” Mincy told the newspaper. “And it’s ambitious. We’ll build about one building every four or five years, so it’s a 20- to 25-year project.”
Mincy also told the Orlando Business Journal that “we’ve been working behind the scenes for the last year and a half on this project, and now we’re ready to rock ’n’ roll on all the infrastructure in July.”
Orlando-based Magic Place LLC is the developer of Magic Place, part of a larger development near Disney World targeting vacationers that includes two short-term rental townhome communities with a combined total of 374 units and a 68-unit fractional ownership condominium. [Orlando Business Journal] — Mike Seemuth