UPDATED: JANUARY 6, 2017 5:37 PM — The Orlando Magic and Orlando Union Rescue Mission swapped properties in Downtown Orlando on Jan. 3, a formal step that now allows renovation to start in the coming months on a shuttered hotel where the men's shelter should relocate to by late November, the mission's president and CEO told GrowthSpotter.
OURM and the Magic reached a deal in late 2016 to relocate the men's shelter to the former Parkwood Inn at 3300 W. Colonial Dr., first reported here on Dec. 8.
That 3.5-acre hotel site was bought in late June 2016 for $2.8 million by Orlando Development Partners XVI, LLC, an affiliate formed discretely by Magic officials last year to help faciliate the OURM men's shelter move from its 0.8-acre site on W. Central Boulevard, and thus vacate the footprint of the future 8.4-acre Orlando Magic Entertainment Complex.
OURM sold its downtown site to Magic affiliate SED Development LLC for $800,000, according to taxes paid on a deed filed Friday in Orange County. The Magic affiliate sold its Parkwood Inn site to OURM on the same day, for the same value.
The deed exchange makes clear that the Orlando Magic invested at least $2.8 million to get the final piece of their land puzzle for a mixed use entertainment complex next to Amway Arena.
OURM also signed a lease with the Magic affiliate to remain in its current men's shelter until renovation and new construction is complete at the Parkwood Inn, said president and CEO Fred B. Clayton on Friday.
Clayton estimates that work to begin in "the next few months," with the initial work to be construction on a new chapel and dining facility, followed by renovation of existing guest rooms.
"We've been told the work should take eight to nine months to complete," Clayton said. "Our goal is to be in the new facility by Thanksgiving, and to be able to conduct our 2017 Thanksgiving Banquet there."
Joel Glass, spokesman for the Orlando Magic, said Friday the basketball club is still in its design process for the entertainment complex property, and had no updates to share on a timeline for new construction.
With construction of the new Orlando Police Headquarters on S. Orange Blossom Trail projected to be complete in First Quarter 2017, demolition of the current headquarters on S. Hughey Avenue could potentially begin shortly after.