Winter Park May Buy The Winter Park Playhouse Property
Winter Park may buy the Winter Park Playhouse property in an attempt to keep the company in their current location. The property was put on the market for a whopping $4.25 million. Unfortunately, this means that the Winter Park Playhouse may have to move when the property is sold. This is the first time the property has been on the market since 1978 when it sold for $98,000.00
Officials Discussed Purchasing The Winter Park Playhouse
In a meeting this month, city officials discussed the potential of buying the building which is roughly 13,000 sqft and located on N. Orange Ave. The idea is to purchase the building and potentially lease it to the theater so they don’t have to move locations. There are other possibilities for the Winter Park Playhouse, however. A new parking garage will be erected over the upcoming Seven Oaks Park and it was theorized that the playhouse could move to a spot located above it. There was also talk about relocating the playhouse to the old Winter Park Library.
Why Does Any Of This Matter?
City-bought properties can help regulate how growth occurs and bring other investments into the area. This also creates contractor opportunities. The director of the budget and management division, Peter Moore, said during the meeting that the city may be able to use community redevelopment agency funds to buy the existing playhouse building. That includes buying a property for “Income-producing or beautification reasons.”
Moore said playhouse leaders are open to options tied to its property and has contacted the landlord. JLL’s Managing Director and Darryl Hoffman and Associate Jacob Attaway currently are marketing the property.
Other Properties Have Gone To Market
Amy Calandrino is the CEO of Beyond Commercial located in Maitland, Beyond Commercial is the broker for a half-acre property on Fairbanks Ave. Car & Quest Inc., a luxury used car dealership currently occupies the parcel and purchased the property in 2012 for $251,100.
The scope of the lot, currently possessed by the 980-square-foot building with a big parking lot for their inventory, and the property’s commercial zoning likely would make a two- or three-story mixed-use redevelopment possible. This could include retail space on the first floor with office space on the second floor; just as an example.
Businesses on and near the busy intersection tend to do well, suggesting that this location could be promising to owners with uses such as professional services, retail, or health and beauty. A key consideration is the strong demographics of Winter Park residents living within a 3 mile radius of the property.
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