Crossroads shopping center near Disney World could close in 18 months
The popular Crossroads of Lake Buena Vista shopping center just outside of Walt Disney World could be closed within 18 months and demolished as part of the next phase of the Interstate 4 expansion.
The Florida Department of Transportation has recently accelerated its timetable to purchase the land and tenants are being notified they must leave within 18 months, according to an article on Growthspotter.
The sale and demolition were first announced in 2016. The Florida Department of Transportation plans to eventually reconfigure an Interstate 4 interchange at State Road 535, according to the Orlando Sentinel.
The shopping center is a popular destination for people staying around Disney World. The 29-acre complex includes more than 20 tenants such as Gooding’s supermarket which has been a go-to place for those staying on Disney property or nearby to shop for food and other supplies.
The restaurants are also popular for many of the people staying in hotels and resorts outside of Walt Disney World. As is Pirate’s Cove Adventure Golf.
Disney developed Crossroads, which is located across from the entrance to the Disney Springs Resort Area Hotels on Hotel Plaza Boulevard. They sold it in 1988 to TH Real Estate, a TIAA-CREF affiliate for $54 million. The shopping center has been appraised at $145 million, according to Growthspotter.
