Orlando Fashion Square Mall, once a bustling retail hub, has seen a decline in recent years. Former mall security guard George Lane describes the stark contrast between the mall’s current state and its vibrant past, recalling a once-full parking lot now largely empty. Numerous revitalization plans have been proposed over the years, but none have come to fruition. The mall’s current status as “for sale” offers a glimmer of hope for transformation and a return to its former glory.
The mall, which originally opened in 1973, holds a significant place in the community’s history. While some hope for its revival as a retail center, others envision a complete reinvention. Barney McAuley, Managing Director of Edge Capital Markets, the Dallas-based real estate brokerage handling the sale, suggests a $500 million mixed-use development. This transformative vision incorporates hotels, restaurants, housing, and other amenities, catering to the evolving needs of the community.
Edge Capital Markets is marketing the two-story, 625,000-square-foot mall to potential buyers who specialize in reimagining struggling malls. McAuley highlights the national trend of transforming underperforming malls into vibrant mixed-use spaces, driven by community needs and the desire to revitalize declining areas. He estimates that approximately 550 of the 1,000 malls in America will undergo this type of redevelopment. While the sale of such a property typically takes five months, the holiday season may extend the timeline to 6-7 months.
McAuley emphasizes that roughly 20 groups nationwide specialize in acquiring and revitalizing malls like Orlando Fashion Square. These developers possess the expertise and vision to transform the mall into a thriving community centerpiece once again. This redevelopment trend reflects a broader shift in the retail landscape, where traditional malls are adapting to meet the changing demands of consumers and communities.
Orlando Fashion Square Mall’s history dates back to its grand opening in 1973. Redevelopment plans have been circulating for over a decade, encompassing proposals for local businesses, multipurpose entertainment venues, and more.
Past redevelopment attempts include a 2013 plan for an Element by Westin Hotel as part of a larger renovation encompassing a family entertainment zone and new restaurants. In 2019, Unicorp National Developments President Chuck Whittall proposed a $23 million contract to acquire nearly 50 acres of land beneath the mall, with plans to demolish the existing structure and create an open-air, mixed-use entertainment space.
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More recently, in 2021, attorneys for Bancorp, the mall’s owner, submitted an application for redevelopment into a mixed-use property. This plan aimed to retain anchor stores while demolishing the central structure to create outdoor commercial space, a hotel, and up to 1,400 apartments, drawing inspiration from Winter Park Village. Orlando City Council approved Bancorp’s master framework plan in December 2021. However, progress has stalled since then. Orange County Property Appraiser records indicate that the mall’s land is currently owned by Fashion Square Land Trust, managed by Unicorp.
