The Ardent Companies (Ardent), a privately held real estate firm based in Atlanta, has secured unanimous city council approval for a key component of the redevelopment of Seminole Towne Center, a former super-regional mall spanning 1.1 million square feet in Sanford, Florida. The approval allows Ardent to move forward with the development of a new, 164,585-square-foot Costco on the 76-acre site.
Ardent’s multi-phased plans for Seminole Town Center will begin with the development of Costco, featuring a gas station, tire center and liquor store. Taking the place of the former Macy’s, the Costco will be the largest in Central Florida and serve as an important catalyst for the overall redevelopment, bringing 12,000 cars to the site daily. Site work and demolition are expected to begin this summer with the opening slated for Q2 2027.
Images Courtesy of: Ardent
“This milestone marks the next important step in restoring Seminole Towne Center into a hub of commerce,” said Jay Douglas, Managing Director for Ardent. “City council approval paves the way for the development of the highly anticipated Costco, which will bring vitality and energy back to this premier retail corridor. We are grateful for the city’s partnership throughout this process and look forward to sharing more details about our redevelopment strategy as plans progress.”
Seminole Towne Center is located within the Orlando MSA, one of the fastest-growing markets in the country. Sanford directly benefits from Orlando’s continued growth, with its population increasing by nearly 10% since 2020. According to the latest CoStar data, Sanford has limited available retail space, with no new space currently under construction. These fundamentals place Ardent in a favorable position to meet market demand through the redevelopment.
Ardent has a proven track record of deploying creative solutions to revitalize distressed assets. Its mixed-use expertise includes 1010 Midtown, a 44,000-square-foot retail-anchored residential tower in Midtown Atlanta, and East Village, the transformation of an underperforming shopping center into a 268,000 mixed-use redevelopment in Roswell, Georgia. Over the past twelve-plus months, Ardent has acquired more than $115 million in six ground-up mixed-use development and redevelopment projects across the Southeast. These projects also include an additional $350 million of future development. Since 2012, the firm has capitalized $3.5 billion across 140 equity investments.
To learn more about Ardent, visit theardentcompanies.com.
The Ardent Companies
The Ardent Companies operates as a privately held real estate firm focused on opportunistic and diversified investment strategies. With significant industry experience and a demonstrated track record, Ardent leverages its established relationships and capital flexibility to attain a diverse set of risk-adjusted investments. The firm pursues opportunities with an innovative and disciplined approach, making material investments together with our limited partners for maximum alignment. As the firm continues to build upon its infrastructure, portfolio, and footprint, Ardent is committed to creating a positive impact on its employees, investors, and communities. Founded in 2012, Ardent has invested over $5.5 billion with over $3 billion in assets currently under management. Ardent’s investment strategies extend across US state lines and country borders, with a current presence in 40 states and three countries. As Ardent expands upon its geographic footprint, the firm continues to grow its employee base with team members based in Atlanta, Charlotte, Miami, Los Angeles, Chicago, and New York City as well as in London, UK.
