AREA15 cancels SW Orange entertainment complex

AREA15 has announced the cancellation of its Orlando project previously planned for the Lake Buena Vista area and has listed the land for sale. 

The property, bought two years ago, currently is unpriced. Owner AREA15 Orlando LLC bought the property in 2022 for $24.8 million, and the Orange County Property Appraiser values the land at $23 million.

The Las Vegas-based entertainment complex is known for its attractions and rides, events and entertainment, and curated food and dining experience.

The 17-acre parcel previously was earmarked for a 300,000-square-foot, two-story complex, located on the southeast corridor of I-4 at the intersection of Lake Street and Regency Village Drive.

The project was supposed to break ground in spring 2023 and was planned to open this fall. 

However, upon examination of the site, the only portion of the project completed is an empty, large, white building. In addition, the 16-foot- tall robot statue that had marked the property has been removed.

Robert McEwan, who is handling the marketing of the property with his son, Michael McEwan, as the land team for international brokerage CBRE, said he does not know the reason why the project leaders decided not to move ahead or to sell the property. 

Robert McEwan said approvals currently are in place for 1,200 hotel rooms or 300,000 square feet of retail, apartments or timeshares, or even a combination of all of these. 

AREA15 opened its first and only location in September 2022 in Las Vegas.

The Las Vegas AREA15 welcomed close to 2 million visitors in its first year of operation. The space includes attractions such as Van Gogh The Immersive Experience, virtual-reality experiences, golf simulators, zip lines, restaurants and distilleries, as well as myriad events, such as concerts. 

The second location of the entertainment complex in Orlando was announced in 2022, following the successful launch of the initial concept. The planned project was supposed to combine elements of an art museum, amusement park and mall. 

Included in the AREA15 plans from 2022, were 72,000 square feet of indoor and outdoor events spaces, with 34,000 square feet of interconnected SPINE free to the public, and 135,000 square feet of leasable space.

Kelly Finkelstein, senior public information officer with Orange County, said the project received approval from the county’s Development Review Committee in January 2023.

The project still would have had to go before the Orange County Board of County Commissioners for approval before moving forward. 

“The extraordinary, ongoing success of AREA15 Las Vegas and its robust, fast-paced expansion activities require our dedicated focus,” AREA15 CEO Winston Fisher said. “As a result, efforts to kick off a brand-new development from the ground up in Orlando have been put on pause. For now, we are exploring options, including the sale of the Orlando land parcel. Meanwhile, Orlando represents an outstanding destination for experiential entertainment, and we remain open to the prospect of a future AREA15 there when the timing is right.”