Could Epic Universe spur a revitalized I-Drive north in Orlando?

Yahoo

28-05-2025

A few miles west from Universal's glitzy new Epic Universe lies another world, where a tattoo parlor, an adult boutique and graffiti-covered vacant buildings vie with the Fun Spot theme park and resort hotels for prominence.
The city of Orlando would like to bring I-Drive north of Sand Lake Road closer to the standards of the tourist strip to the south, which sits in unincorporated Orange County. Last week, it approved a package of property tax incentives it hopes will start the process.
'There's long been this desire to beautify and have north I-Drive look similar to south I-Drive,' said City Commissioner Bakari Burns, whose district includes the area. 'We're hoping that as Epic increases the visitors to I-Drive, a rising tide lifts all boats.'
Developers can receive up to a 50% property tax refund for 10 years on the portion of the property tax bill assessed by the city. Those who include housing, with at least 20% designated for households earning between 80% and 120% of the area median income, are eligible for an 80% refund on city taxes under the program. Parcels must be at least 1.5 acres to qualify.
In one projection created by the city, building an apartment complex on a vacant site on I-Drive could net about a $3 million refund over 10 years.
The incentive package was paired with an extension of a previous incentive, which targeted the Fashion Square Mall, Magic Mall and Rosemont Plaza as potential redevelopment sites.
The Fashion Square Mall site in particular has seen various proposals calling for as many as 1,400 residential units with hotel, retail and restaurant uses, but haven't advanced. The mall property is complicated by the ownership structure: Unicorp National Development co-owns the ground beneath it, while the Delaware bank Bancorp owns the struggling mall itself.
Both entities have different ideas for redevelopment, but haven't struck a deal.
Eric Ushkowitz, Orlando's business development manager, said the city was targeting underdeveloped areas in hopes of kickstarting high-quality growth.
'We'd just like to see new investment in those areas that are underutilized,' he said. 'It's always tough when there are areas that haven't seen investment in a long time.'
The eclectic North I-Drive area includes the Universal Endless Summer Resort as well as the Fun Spot theme park, and also helicopter tours, giant gift shops, and a Titanic exhibition, all within the space of a mile or so.
The county's southern portion of I-Drive, meanwhile, includes more eating and entertainment options, the 400-foot high Orlando Eye Ferris wheel, higher-end hotels, the Orange County Convention Center and SeaWorld's theme parks.
Business interests in the area have long wanted to see new interest in the area of North I-Drive. Burns said talks about the northern stretch have spanned several years in his regular meetings and roundtables.
J.J. Morales, who manages the auto museum of 2,000 vehicles at the indoor Dezerland attraction, said the prospect of new development along I-Drive would be exciting. Three properties that qualify for the incentive are the southern neighbor to the indoor theme park.
'As a local, I'd be eager for something like that to happen,' said Morales, 39, who lives about a block from his job. 'We're stuck in a time capsule. We're trying to show the world that we're here. I think redevelopment will open their eyes.'
Maria Triscari, president of the I-Drive Chamber of Commerce, said investment in the northern end could better unite it to the more bustling southern strip.
'This initiative is not just about aesthetics – it's a strategic investment that will increase tourism, drive economic growth, and create new jobs, strengthening the entire corridor's impact,' she said in an email. 'By fostering cohesion between the northern and southern ends of International Drive, we are creating a seamless, thriving destination that honors the legacy of the past while embracing the promise of the future.'
International Drive spans 11 miles, with the northern portion dating back to the 1960s when developer Finley Hamilton bought 10 acres of land accessible by dirt road for a Hilton Inn.
The Orlando Sentinel reported Hamilton hoped the hotel in the middle of nowhere would stick out to travelers headed to the soon-to-open Walt Disney World parks. He later named the road International Drive 'because it sounded big and important,' he recalled to the newspaper.
By 1973, investors had sunk $60 million into 11 hotels along I-Drive with 3,900 rooms.
In 2020, the I-Drive area had grown to include 6,000 acres and attracted 14 million visitors annually, with 2,000 businesses and more than 120 hotels.
[e-mail]