After years of work and negotiations, the State of Florida has reached a $198 million agreement to acquire Crossroads of Lake Buena Vista, a retail complex just outside Walt Disney World Resort.
As reported by the Orlando Sentinel, this agreement marks the largest eminent domain settlement in the state’s history, according to the lead attorney representing the owner of the property. Eminent domain is when the government pays to obtain private property for public use.
As a result of this deal being finalized, all 25 business tenants located at the retail center will have until August 2021 to close and vacate, though some have already closed due to the pandemic. We previously reported that retailers there would have 18 months from April 2018 to vacate – which would have meant the retailer was originally close in October of 2019 to allow construction to begin in 2020.
A few of the more popular restaurants located at Crossroads include McDonald’s, Buffalo Wild Wings, Chevy’s, Fuddruckers, Firehouse Subs, Pirate’s Cove mini-golf, Taco Bell, Red Lobster, Noodles & Company, and Pizzeria Uno. Some former businesses that have already closed include Tom + Chee, Sweet Tomatoes, and Goodings grocery store.
The Florida Department of Transportation (FDOT) plans to expand Interstate 4 at what is now Crossroads, which will help alleviate congestion at Exit 68.
Crossroads was originally built by Disney in 1988, and featured unique offerings like a Sony store, Chico’s and a McKids stores, a children’s apparel spin-off of McDonalds, according to GrowthSpotter.
If you visit Walt Disney World Resort and Crossroads of Lake Buena Vista is an off-site dining location for you, you’ll want to plan ahead before the stores close this August.