Lake Mary's TownPark Commons project won approval from Seminole County commissioners July 28 for a rezoning from agricultural and commercial to high intensity development.
At the same meeting, project representatives announced insurer CNA Financial will relocate its regional headquarters to the project site, taking up over 100,000 square feet.
The rezoning helps clear the way for the roughly $220 million multi-use project that Providence One, which is located in Heathrow, and Atlanta-based Piedmont Realty Trust plan to build on 18 acres off International Parkway and Interstate 4.
Planned is 800,000 square-feet of office space, three office buildings that could be as high as 10 stories each, three parking structures that will accommodate as many as 3,960 cars, a 250-room hotel, and 94,000-square-feet of retail and restaurants.
The land is currently vacant.
TownPark Commons is hoped to bring additional "Class A" office space into the area. It will not proceed without first having tenants but is optimistic because of all the activity and growth along the I-4 corridor in that area.
DEVELOPER: Providence One
OWNER: Piedmont Realty Trust
COST: Est. $220 million
START DATE: Est. second quarter of 2016
END DATE: N/A