### Ardent Acquires Seminole Towne Center for Mixed-Use Redevelopment
The Ardent Companies (Ardent) has purchased 76 acres of the Seminole Towne Center site in Sanford, FL, for $17.5 million. The company plans to redevelop the property into a dynamic mixed-use destination featuring new retail spaces, multifamily residences, and a hotel.
The site, originally a shopping mall that operated for 30 years before closing, was sold by 4th Dimension Properties. Notably, 4th Dimension and an investor partner had acquired the property for $52.3 million in 2020.
Ardent’s Matt Shulman emphasized the company’s commitment to working closely with the City of Sanford and other stakeholders to transform the location into a vibrant district. “We will work in close collaboration with the City of Sanford and other stakeholders to redevelop this site into a mixed-use district that will once again serve as an exciting hub of activity for residents and visitors. We look forward to sharing more details soon,” Shulman stated.
Sanford’s Director of Economic Development, Brady Lessard, highlighted the significance of the project, calling it the largest retail redevelopment in Seminole County’s history.
This redevelopment represents a long-term investment for Ardent, which has a strong track record of revitalizing distressed assets.
