JMA Ventures
The Orlando City Council and community redevelopment agency “approved incentives and the development agreement” for the
$500M, 900,000-square-foot mixed-use project for its
Sports + Entertainment District, according to Ryan Lynch of the ORLANDO BUSINESS JOURNAL. The incentives include “up to” $40M in income tax rebates. The project -- “to be built on 8.5 vacant acres to the north of the Kia Center” -- is a joint venture of Orlando SED Partners LLC, made up of Magic's SED Development LLC, Houston-based Machete Group and S.F.-based JMA Ventures LLC. Machete Group founder and principal David Carlock said that the goal is to “break ground by the end of this year.” Included in the first phase of developments will be:
- A 260-room full-service hotel with 16,000 square feet of indoor meeting space
- A 65,000-square-foot live events venue with capacity for 3,500 people
- A 270-unit high-rise residential tower
- Roughly 300,000 square feet of office space, which will include the new HQ for the Magic
- About 125,000 square feet of retail space
- A 1,140-stall parking garage
Carlock said that the meeting space is “something that has been missing downtown for those seeking a capacity for 1,000 people in a banquet setting.” That could “play a role in the region's bids for events like the NBA All-Star Game” (
ORLANDO BUSINESS JOURNAL, 4/22).
Orlando Sports + Entertainment District
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