A new downtown redevelopment project is ‘going to be like jet fuel in terms of the economy.’

A long empty parcel of prime real estate in downtown Orlando — the former home of the Orlando Sentinel newspaper — is set to be redeveloped, city officials said Tuesday.

The project in motion was announced during Orlando Mayor Buddy Dyer’s State of the Downtown address.

“I couldn’t be more excited about what’s going to happen on the Sentinel site. I truly believe that’s going to be catalytic for our community,” Dyer said during the round table conversation with other community leaders.

During the pandemic, the Sentinel abandoned its nearly 70-year-old headquarters on 633 N. Orange Ave. and never moved back. The daily newspaper still employs reporters who work from home or stop into the new office in the nearby suburbs.

Since the newspaper left, the 20-acre site on the northern edge of the downtown entertainment district has stood empty.

Dyer and the city did not release many details about what the redevelopment project will look like, and the city did not immediately respond to questions after the late afternoon event.

But a video presentation from architect Heatherwick Studio described the 20 acres as “an opportunity to create an amazing new district with a gathering space at its heart with thousands of new homes and dozens of new businesses to bring an urban density that unlocks new places to work, new places to play, and to relax and exercise.”

For the city, it’s a major parcel open at the intersection of East Colonial Drive and North Orange Avenue with the Dr. Phillips Center for the Performing Arts as the “bookend” on the other end, Dyer said.

“Everything else in between those two areas is going to benefit. It’s going to be like jet fuel in terms of the economy,” Dyer said. “There’s probably people out today trying to buy up the land that’s on either side east or west of there.”

The announcement comes during a challenging time for downtown. Many iconic dance clubs and bars have left. The city made headlines for shootings — including one in Halloween 2024 that killed two people. Many remaining nighttime establishments are struggling, business owners have said, as they are required to pay for upgraded security measures.