ORLANDO, Fla. — Construction has begun on the first phase of the RoseArts District, a planned $2.6 billion mixed-use development in Orlando’s Rosemont neighborhood.
Westside Capital Group officially broke ground on the project Wednesday alongside Orlando Mayor Buddy Dyer, District 3 City Commissioner Roger Chapin and other community leaders.
The first phase will include four residential buildings spread across four parcels. Plans call for approximately 1,600 housing units, including 160 units designated as affordable housing.
The phase is also expected to include up to 150,000 square feet of retail space and a charter school.
“Today is an exciting milestone for RoseArts and the culmination of years of planning, collaboration and belief in the potential of the RoseArts District vision,” Westside Capital Group Chairman Jakub Hejl said.
At full buildout, the district is planned to include 12 residential buildings across 12 parcels. The complete development could contain up to 5,650 housing units and 350,000 square feet of retail space.
Westside said its goal is to create a connected neighborhood that combines housing, shopping and other community amenities.
A fiscal and economic impact study commissioned for the project estimates that construction could generate nearly $2.6 billion in economic activity and approximately 11,233 temporary jobs. The study projects those jobs would provide $922.9 million in wages, expressed in 2035 dollars.
Once completed, the development could support approximately 1,790 permanent full-time, part-time and seasonal jobs, according to the study. It also projects approximately $320.6 million in annual economic activity.
The study estimates RoseArts could generate about $19.2 million annually for the city of Orlando at full buildout. Other taxing authorities, including Orange County, could receive an estimated $33.1 million in annual property tax revenue. Those projections are also expressed in 2035 dollars and depend on current tax rates.
“We know a project of this size brings change, and we appreciate the residents who have engaged with us, asked questions and shared their perspectives,” Hejl said. “We want to continue that dialogue as we move from planning into construction.”
Westside Capital Group did not provide an estimated completion date for the first phase or the full development.
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