Developer Betting Village Concept Will Pay Off on $165 Mil, 567,000-SF Spec Mixed-Use Venture

ORLANDO-Despite a third-quarter office vacancy of 20% in the city’s southwest/tourist submarket, Park Development Corp. president David Townsend is betting his two newest mixed-use projects at the 1,800-acre MetroWest community will fly.

He bases his optimism largely on the proximity of Universal Orlando’s theme parks and a growing affluent urban center along the Hiawassee Road corridor, five miles from Downtown.

“We’re confident the population and the employment mass will be there to sustain both projects,” Townsend tells GlobeSt.com. “With 5,000 daytime employees expected to be working on the corner of MetroWest Boulevard and Hiawassee Boulevard within 18 months; 12,000 new apartments coming on line; and 24,000 new residential units planned, we think our timing will be right for the projects.”