Why Parramore is so hot with developers

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If you are wondering why properties are soaring in Parramore, look no further than the new $300 million proposed development tentatively known as the Green District. This development was first reported by the Orlando Business Journal

Green Tree Development Group LLC, a Windermere- based development group headed by Timothy Green, is seeking to redevelop the area around the Wells’Built Museum of African American History and Culture -- from South Division Avenue to South Terry Avenue and West Church Street to West South Street.




The Green District’s 12-acre development would keep the Museum but see the rest of the two-block project transform into dense, mid-rises containing over 66,000 square feet of retail, 464 residential units, a 400-room hotel and over 120,000 square feet of office space.

However, the Green District is not guaranteed. The Green District faces serious funding concerns as many capital sources are looking to fund speculative office projects.

Additionally, Green is still acquiring all the properties needed to submit a plan to the city. The group is hopeful that they will be able to break ground as early as the first quarter of 2020.

Green’s proposed development highlights the appeal of Parramore to developers as relatively cheap land near the downtown core.

Parramore can expect similar developments to trickle in as the region continues growing.

This article was researched and written by Alex Gurtis, a correspondent for www.32805OrlNews.com




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