The Orlando Magic’s Sports + Entertainment District is set to break ground soon, according to team executives. The long-awaited mixed-use complex, estimated to cost over $500 million, will be built on roughly 8.4 acres in Downtown Orlando. It  will include a hotel tower, over 420,000 square feet of office space, restaurants, shops, and other amenities.

The project has been in the works since 2011. The team’s Chief Diversity, Equity, & Inclusion Officer, Esu Ma’at, said during a panel discussion at Orlandos 2023 Business of Sports event on March 9 that the project may begin by this summer. Team spokesman Joel Glass also confirmed that the project will break ground “later this calendar year, exact timeline to be determined.”

The Sports + Entertainment District has been compared to destinations like L.A. Live; a massive mixed-use destination across from the Crypto.com Arena, the home of the Los Angeles Lakers and Los Angeles Clippers. Orlando Magic CEO Alex Martins previously stated that the project would be completed by the middle of 2025.

The Magic’s development is a sign of Downtown Orlando’s investment, which should lead to more jobs & economic impact. Real estate investments by professional sports teams are successful in generating new revenue. These developments provide new real estate options that can expanding restaurants, shops, and more to grow the region. Sports businesses create jobs, draw people to dine or shop in an area, & improve the cultural fabric of a region.