Under the agreement, Deerfield Land will undertake the reconstruction of Orange Avenue from Osceola Parkway to the northern Osceola County border as a four-lane, divided highway. Deerfield Land will also donate approximately 14 acres of land to Osceola County for the expanded road right-of-way and other public uses throughout its Osceola Corporate Center development. The agreement is expected to provide improvements to Osceola County’s infrastructure valued at approximately $8 million, for which Deerfield Land will receive mobility fee credits.
Work on the project will begin immediately, with completion preceding the opening of the Tupperware Station in phase 2 south of the SunRail commuter rail project. Deerfield Land expects that the completed road improvements, including utilities and signalization, will lead to the transportation-oriented development of nearly 150 acres surrounding the reconstructed road segment, beginning as early as mid-2016. Uses intended for the development include office, retail, multi-family residential and hotel.