Two Big Bets on Orlando's Tourist Corridor: $400 Million Morada Tower on I-Drive and Ovation Orlando District Near Disney

Two developers unveiled new plans this week for Central Florida's tourist corridor. One is a $400 million luxury residential tower planned for International Drive. The other is the Ovation Orlando entertainment district, which is moving forward on a roughly 76-acre site near Walt Disney World where the developer paid more than $70 million for the land. Both projects are still years from opening, and both are betting that visitors and wealthy buyers will keep pouring into the area around Orlando's theme parks.

FOX 35 Orlando reported the details of both projects on Nov. 13 and 14. WFTV reported on Nov. 11 that a new master plan for Ovation Orlando had been released. Neither project has broken ground. The I-Drive tower is waiting on permits from Orange County, and Ovation Orlando is aiming for a groundbreaking in early 2027.

Morada Orlando: an 18-story tower on I-Drive

The residential project is called Morada Orlando. MakeSpace Development, led by Marcelo Teixeira and Juliana Boselli Neves, is behind it. FOX 35 reported that the $400 million building would stand 18 stories and hold 240 residences, with two-, three- and four-bedroom units plus penthouses. Prices are expected to start at $1 million.

The developers are pitching a resort lifestyle, with hotel-style services and a restaurant run by an award-winning Brazilian chef. The station did not name the chef. The developers have also not released a street address on International Drive, a full list of amenities or how many units of each size the building will have.

Neves told FOX 35 the team saw an opening in the market for this kind of product. "We really saw a gap," she said.

The developers started collecting buyer interest this week. They reported 15 deposits of $50,000 each, or about $750,000 in early commitments. They are seeking financing from banks and private investors and have submitted permits to Orange County. The current schedule calls for a 2028 groundbreaking and a 2030 opening.

Marissa Crawford, a real estate adviser with Core4 Luxury International Group, told FOX 35 the tower could help lift the I-Drive corridor's profile and might draw more luxury projects to the area.

Why International Drive is a target

International Drive is Orange County's main tourism strip, running past the Orange County Convention Center and close to SeaWorld Orlando and Universal's newer Epic Universe park. Hotels, timeshares, restaurants and attractions have long dominated the corridor, and condos priced at $1 million and up have been rare there. The Morada plan joins other residential projects that developers have proposed near the corridor in recent years as the theme parks grow.

Developers often use presale deposits to show lenders there is demand, and the 15 early deposits will not finance a $400 million tower on their own. The financing the team is still pursuing will likely decide whether the project stays on its 2028 schedule.

Ovation Orlando: a new district at I-4 and U.S. 192

The second project is in Osceola County. Ovation Orlando is being built on the site of the former Orlando Sun Resort and Convention Center near Interstate 4 and U.S. Highway 192, just outside Walt Disney World. The resort closed years ago and the property has sat empty since.

The developer is Accesso, a South Florida firm that bought the land. FOX 35 reported that the purchase cost more than $70 million and that Accesso Managing Partner Alan Garzon called it a major milestone for the project. Earlier reports said the sale closed at the end of 2025 and that Accesso partnered with the Meyers Group on the deal. WFTV reported that Osceola County commissioners moved a development agreement for the site forward in March 2025.

RSP Architects drew the new master plan. According to WFTV, the district would be split into three areas linked by an L-shaped pedestrian promenade:

• Garden, a waterfront area with tropical landscaping and outdoor dining.
• Gallery, a district built around a hotel and focused on art, technology and immersive experiences.
• Vibe, an entertainment area with restaurants, live performances, digital media and nightlife.

FOX 35 said Accesso described restaurants along a three-acre lake, a shopping and entertainment area inspired by New York's Times Square, and attractions including live music, comedy, bowling and themed restaurants. Shade structures, canopies and awnings are planned to protect visitors from the Florida sun and rain, WFTV reported.

David Herbert, an associate principal at RSP Architects, told WFTV: "Successful retail today is about much more than creating space for a transaction."

The numbers have shifted

The two stations reported different figures for Ovation Orlando's size. WFTV described the latest master plan as about 650,000 square feet of retail, dining and entertainment space plus a 15-story convention hotel with 350 rooms, and said earlier concepts had included different totals. FOX 35 cited 670,000 square feet and 740 hotel rooms and condominiums, matching figures Accesso released when it bought the land.

The timeline has changed as well. FOX 35's summary said construction would start in the first quarter of 2026, but the same report said phased construction is expected to begin in 2027. WFTV reported that Accesso is targeting a groundbreaking in the first quarter of 2027. No opening date has been announced.

Accesso has not named any tenants. FOX 35 reported that the company says it has commitments for much of the retail space and that hotel development sites are for sale. Bill Shewalter, Accesso's executive vice president of development, said the location near Central Florida's major attractions could make Ovation Orlando a regional destination, according to the station. The developer projects thousands of construction and permanent jobs.

The two projects side by side

The table below compares the two plans using the figures reported by FOX 35 and WFTV.

What it means for Central Florida

Both projects reflect a bet that the tourist corridor between I-Drive and the U.S. 192 area can support more than hotels and gift shops. Morada Orlando is aimed at buyers who want a full-time or second home in the middle of the tourism district. Ovation Orlando is meant to give visitors and locals a place to shop, eat and see shows outside the theme park gates.

For Osceola County, the Ovation site has been an eyesore for years, and the plan would bring an abandoned resort property back into use. For Orange County, a luxury tower would add a new kind of high-end housing to a corridor built mostly around short-term visitors.

What's next

Morada Orlando needs Orange County to approve its permits and must line up financing from banks and private investors before it can meet its 2028 groundbreaking target. Ovation Orlando's next public step is the start of phased construction, which Accesso is aiming for in early 2027, along with announcements of the tenants and hotel partners that will fill the district. Both timelines could change, and the figures behind Ovation Orlando have already been revised more than once.