A popular Seminole County shopping center for nearly 40 years is closing. The owners of Flea World in Sanford said they’ll be closing it down to make way for a brand new mixed-use development.
Flea World touts itself as America’s Largest Flea market, and since the 1970s has offered Central Florida a unique mix of shopping, food and memorable TV ads.
But Flea World’s owner, Syd Levy, announced Tuesday he will be closing Flea World in about a year. And Levy is working with a development team on plans to build a $200 million development in Flea World’s place. Investors said the new development will be one of the biggest in Seminole County’s history.
“It will be a boon for business for 17/92 and the surrounding areas,” said Paul Partyka, a real-estate broker with NAI Realvest who’s working on the development. Partyka also spoke on behalf of Syd Levy, Flea World’s owner.
The new development would be called the Reagan Center, and include about 500 apartments and townhomes, mixed with commercial business and retail - including restaurants such as Applebee’s and Chili’s.
The development is planned for the land where Fleaworld sits now, which is right across the street from the Seminole County Courthouse, Seminole County Sheriff’s Office and other county government offices.
“The government center is right there with several thousand people, employees, and then on top of that with the residents that are there – this is going to be a major economic center for the county,” said Partyka.
We talked to several Flea World vendors who say they got letters over the weekend that informed them of the plans. Vendors said they are worried about their businesses because they say they do most, if not all of their business at Flea World.
“Right now where Flea World is, it’s right in the heart of Seminole County. And it’s only logical to create something that is much more compatible with the way the economy is, and where people are moving to,” said Partyka.
Flea World’s owner said vendors will be able to do business at least for another year. They say even when Flea World is torn down, they plan to open another more modern marketplace somewhere else in the county where vendors can take their business. Flea World’s owner said it’s a bittersweet end of an era.
“After over 37 years in operation with millions of customers visiting the storied Flea World and earlier Fun World, I must say it is with mixed emotions we are going to redevelop this land. I will keep Flea World, with our family of vendors, open during the development approval process throughout next year at least until January of 2016,” Levy said.
County leaders will have to consider and then approve the new development plans. It would likely be spring 2015 at the earliest before county commissioners would have to make a final decision on approval, before plans could move forward.