ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The group behind Creative Village in downtown Orlando will have another year to purchase three key parcels of land after the city approved a measure to extend the contracted closing date until 2025.
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Ustler Development Inc. and its development partner The Allen Morris Co. were under contract with the city to purchase the three parcels of land between North Hughey Avenue and Chatham Avenue north of Livingston Street by June 30 of this year.
Craig Ustler, president and owner of Ustler Development, said the move to delay was necessary because of troubles in the national lending markets.
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