ORLANDO—The Falcone Group, led by veteran developer Art Falcone, has been selected by Orange County Public Schools (OCPS) to purchase and redevelop the “Hungerford Property” in the Historic Town of Eatonville. The Falcone Group is now officially approved to develop the 88-acre site located within a Federally-designated Opportunity Zone and will spend the next several months meeting with Town residents, officials, and community leaders to get their input on the proposed redevelopment plan.
“The Falcone Group is humbled by OCPS’ selection of our team to purchase and develop this historical site. We greatly appreciate the thoughtfulness and care demonstrated by the parties involved thus far, and we truly look forward to collaborating with the Town of Eatonville and its residents to make a positive community impact per their guidance and input,” said Alfonso Costa Jr., Executive Vice President of the Falcone Group. “Our firm’s Opportunity Zone strategy maintains a core belief that the local community comes first, and we will strongly adhere to that throughout the lifecycle of this development process.
For more than 40 years, Art Falcone and his team at Falcone Group have reshaped communities and redefined the way Americans live, work and play. Their world-class mixed-use developments and multifamily residences revitalize underutilized urban cores with technology-enhanced design features and amenities that promote walkability and drive economic innovation.
The team is committed to honoring the history of the Town of Eatonville while creating job opportunities for residents, driving economic and commercial activity, generating increased tax revenues, enhancing public improvements, and providing quality housing supply.
The Falcone Group is collaborating with an entity related to The Keewin Real Property Company and Sovereign Land Co. to entitle and develop the southern portion of the site as a single-family residential subdivision. Keewin and Sovereign had also pursued the purchase of the property, and due to their local knowledge and relationships, were a great addition to the development team.
“We are delighted to work with the Falcone Group, in addition to OCPS and the Town of Eatonville, to bring another high-quality commercial and residential project to the Orlando area,” said Allan E. Keen, Chairman and Founder of The Keewin Real Property Company.
Community listening sessions are expected to begin in early 2022 and will focus on hearing from and collaborating with Town residents to better understand their hopes and vision for the historic property. A critical part of that process will be seeking resident opinion on the naming of the development and the types of commercial retail offerings to be included. The new development is slated to encompass retail and restaurant concepts, residential, commercial mixed-use, and public/civic-use space.