What’s Happening to Oviedo Mall’s Old Macy’s?

When Will the Old Macy’s Come Down?

A demolition permit is expected to be filed within 90 days, according to Oviedo Mall’s director of development, Kevin Hipes. Once that permit is in hand, demolition could move quickly — Hipes says the building could come down within just a few months.

What’s Replacing Macy’s?

Approximately 400 apartments, built by Picerne, will go up on the east side of the mall where Macy’s currently sits. Hipes laid out a rough timeline: about 6 months to finalize construction plans and permits, roughly a year to build, and another 6 months to lease up the units.

Picerne has also committed to building a new walkable entrance into the mall from the apartment side, giving future residents direct access to Oviedo Mall’s shops, restaurants, and entertainment.

How Many Buildings and Units Are Planned?

Site plans filed with the City of Oviedo show seven residential buildings, ranging from 4 stories, totaling roughly 358 to 360 apartment units — the project has been reported at “approximately 400 units” more recently, so the final count may still be settling. The plans also include a clubhouse and pool area at the center of the development, four small parking garages, and a dedicated dog park.

Who Had to Agree to Make This Happen?

The deal required four separate property owners to reach an agreement before Picerne could move forward, according to Orlando Business Journal. Oviedo Mall isn’t owned by a single entity — it’s split among multiple owners, and getting everyone aligned on development agreements and cross-access terms was the main obstacle holding up construction for years, even after the city had already approved the project back in 2020.

Is More Housing Coming to the Mall Property?

Yes — a second phase is planned on the opposite side of the mall. Woodfield Development Co. is under contract on a 14-acre parcel on the west side of Oviedo Mall and plans to build about 325 additional market-rate apartments. That phase is expected to follow roughly a year behind the Macy’s redevelopment, and is still working through city site plan approval.

Why Is This Happening Now?

This redevelopment has actually been discussed since 2023, but stalled for years without construction ever breaking ground. What changed this summer is that Picerne finalized the land purchase and received site plan sign-off — the concrete step that had been missing. Oviedo Mayor Megan Sladek noted the redevelopment is expected to help boost the city’s tax revenue as the site shifts from a vacant anchor store to occupied residential use.

Curious what else is reshaping Central Florida right now? Read our coverage of the Flea World Reagan Center redevelopment in Sanford, another major site trading hands for new development this year.