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Photo by: Tim Freed - The Orlando Sentinel reports that figures as high as $187 million have been brought up for discussion for the price tag of Dan Bellows' Ravaudage development.
Winter Park / Maitland Observer Wednesday, May 7, 2014 4 years ago

Massive Winter Park Ravaudage for sale

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Bellows' project up for grabs
by: Tim Freed Associate Editor

Winter Park’s largest mixed-use development now has a price tag on it.

Developer Dan Bellows recently put his 73-acre Ravaudage Development up for sale through commercial real estate firm Cassidy Turley.

Bellows has slowly expanded the property along U.S. Highway 17-92 by purchasing smaller lots since the project started in 2012.

But plans to add a variety of developments to the property — from ballparks to grocery stores — never completely took shape. Today, only Miller’s Ale House stands facing the intersection at Lee Road.

Mark Stratman of Cassidy Turley said that Bellows is hoping to test the waters to see what offers come up.

The response has been strong since the property first hit the market on April 28, Stratman said, with Cassidy Turley receiving more than two-dozen calls from people requesting more information.

“The process of selling anything is a long process in order to make sure you have the right buyer,” Stratman said.

“It’s really just starting to take shape, and we’re starting to get some good activity right now.”

Stratman noted that the property — which he estimates could sell for at least $187 million — will be best suited for a buyer looking to develop a vision over a 10- to 20-year period.

“Whoever it is will be somebody who can come in and have the foresight and vision to see what the site could potentially be,” Stratman said. “The existing site plan that’s in play is certainly a good one, but every buyer has their own ideas.”

“If there’s a market for it, [Bellows] certainly should be able to test the market,” City Commissioner Steven Leary said. “We still hold him to the standards that are in the [Project Development and Environment study].”

Orlando-based developer Unicorp National Developments purchased a piece of the Ravaudage property near the Miller’s Ale House last year, preparing to build an 18,000-square-foot, two-story development that includes a Tony Roma’s Steakhouse, retail space and a medical use upstairs, Stratman said.

Mayor Ken Bradley said he wished to see Ravaudage developed properly, regardless of who owns the 73 acres of land.

“My biggest concern about Ravaudage is that I want the vision Ravaudage had to be developed, which is with excellence and beauty,” Bradley said.

“Vacant land sitting there doing nothing ultimately isn’t good for Winter Park.”

Bellows did not respond to phone calls requesting comment.

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