Atlanta firm buys Seminole Towne Center, plans to redevelop the site
An Atlanta-based developer has purchased a 75-acre portion of the recently shuttered Seminole Towne Center in Sanford and announced plans to redevelop the property into a mixed-use destination with multifamily, retail, and hotel uses.
Brady Lessard, Sanford’s Director of Economic Development, confirmed with GrowthSpotter that the price of the sale to The Ardent Companies was about $17.5 million. The deal involved the vacant, 324,681-square-foot enclosed regional mall, the 160,000-square-foot former Macy’s building, and a 13.5-acre development parcel.
A representative for the developer declined to share more details on the company’s plans, but Lessard released a statement that “the scope of this project will amount to the largest retail redevelopment in Seminole County’s history.”
“We will work in close collaboration with the City of Sanford and other stakeholders to redevelop this site into a mixed-use district that will once again serve as an exciting hub of activity for residents and visitors. We look forward to sharing more details soon,” Matt Shulman, CEO of The Ardent Companies said in the release.