Atlanta firm purchases Seminole Towne Center for redevelopment

An Atlanta developer has purchased part of the closed Seminole Towne Center in Sanford, Florida. The Ardent Companies plans to transform the 75-acre site into a mixed-use area with housing, retail shops, and a hotel. The sale price for the property was around $17.5 million. Brady Lessard, the Director of Economic Development in Sanford, confirmed the details of the sale. The deal includes a large mall that is no longer in use, a vacant Macy's store, and a development area. The redevelopment project is expected to be the biggest retail transformation in Seminole County's history. Matt Shulman, CEO of The Ardent Companies, stated they will work closely with Sanford officials. He hopes to revitalize the area and make it a lively destination for both residents and visitors. Further details on the project will be shared soon. The Seminole Towne Center, which opened in 1995, had been a popular shopping spot but struggled in recent years. Most of the mall closed earlier this year after the property faced financial issues. While some major stores like Dick’s Sporting Goods and JCPenney will stay open, the majority of the mall will be torn down. Past attempts to revive the mall were unsuccessful. Other developers had plans for apartment buildings but did not follow through. City officials are optimistic that The Ardent Companies will succeed where others have failed. Sanford Mayor Art Woodruff expressed excitement for the planned redevelopment and its potential to boost the local economy. The Ardent Companies has experience in large-scale projects and has worked on several similar developments in the southeastern United States.