The 48-year-old founder-developer-coach of the bands Backstreet Boys and 'N Sync plans to move his 600-person headquarters staff at Trans Continental Entertainment Group from tourist-oriented International Drive to the 136,000-sf, three-story Church Street Exchange. The former festival-themed shopping site is located within the Church Street Station complex at Garland Avenue and Pine Street.

Pearlman announced at a news conference he is negotiating with the city for a $1.5 million loan to help with the planned renovations. Orlando Mayor Glenda Hood and her council members are considering giving Pearlman economic incentives if he follows through on his new construction plans.

Pearlman says he plans to invest $9 million on a facelift at the Church Street Exchange and another $3 million on the rest of Church Street Station, which includes the 80,000-sf Presidential Ballroom building, a Downtown landmark of sorts.