A prime piece of land in downtown Orlando is available for purchase at the price of $10 million. Located at 319 N. Magnolia Ave., this property, previously acquired by Aureate Development for $2.4 million in 2018, has been approved by the city to be developed into a mixed-use tower with residential apartments, retail space, and office space along with a parking garage.
The lot spans approximately half an acre and is situated near SkyHouse Orlando and the county courthouse. With its density bonus allowing up to 232 units, as well as 6,000 square feet of retail space and over 15,000 square feet of office space on top of a parking garage that can accommodate up to 280 vehicles.
Currently occupied by a vacant single-story office building that will need to be demolished before construction begins on the new development project.
Aureate Development is also known for their work on other projects such as the recently opened Orlando College of Osteopathic Medicine in Horizon West. The property is being marketed by Matt Hall from Bounat National based out Tampa Bay area.
