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New Development Partner for Oviedo on the Park

August 5, 2012
By

City of OviedoThe City of Oviedo is proud to announce the commencement of a new public/private partnership with P.A.C. Land Development (P.A.C.) for the development of the Oviedo on the Park project. P.A.C. Land Development is a Winter Park Developer with over 25 years experience.

At its July 16, 2012 meeting, the Oviedo City Council approved an acquisition and development agreement with P.A.C., completing the creation of a public/private partnership to bring to fruition the much anticipated development of the City’s new downtown project, Oviedo on the Park. At that meeting, Tom Cavanaugh of P.A.C. shared his vision for a mixed-use downtown neighborhood that will provide areas to live, work, play, shop, and enjoy entertainment opportunities in a congenial atmosphere. P.A.C. closed on the Oviedo on the Park property on July 24, 2012.

A ground breaking ceremony will kick off construction of the first phase of the project in the first quarter of 2013. The overall development will encompass over 85,000 square feet of mixed use space, starting with the construction of approximately 250 upscale apartment and single family residential units located in the northwest quadrant of the project. Additionally, the plan calls for an Amphitheater and park area, Interactive fountains/Splash pads, an overlook Gazebo and Pavilion, Boardwalk, Fishing dock, Kids Playground area, Decorative Sculpture, Green Space for quiet contemplation and a Lake Promenade.

The development of the property will be divided into phases. The initial phase will include the construction of roadways, hardscape, landscape, utilities, site work, the City’s amphitheater park, and a minimum of 250 residential dwelling units. The final phases will include additional residential units and a minimum of 85,000 square feet of commercial, office, restaurant, and entertainment uses. The city and the developer anticipate substantial build out of the project in five years.