Every family in east Seminole County has an Oviedo Mall memory. A first movie at the Regal. Back-to-school shoes. Walking laps inside when it was too hot to walk anywhere else.
For years the question was whether the mall would make it. That question just got answered, and the answer is not what most people expected.
What Is Actually Happening
In July 2026, the owners of the mall's separate parcels finally signed the agreements needed to start building. Here is the plan, as reported by News 13 and ClickOrlando:
- Phase 1: Up to 400 market-rate apartments on the 15-acre former Macy's site, developed by Picerne. News 13 reported the investment at about $125 million, with a new east-side mall entrance designed for people to walk in from the apartments.
- Timing: A demolition permit was expected within about 90 days of July, construction around early 2027, and leasing around early 2028.
- Phase 2: Roughly 325 more units on a 14-acre parcel on the west side, developed by Woodfield, with construction expected late 2027 or early 2028. A hotel has been floated for that side as well.
The mall's development director described the goal in four words: eat, sleep, work, play. The city says these conversations started back in 2020.
The New Tenants Already Tell the Story
You do not have to wait until 2028 to see the shift. It is already on the directory.
Bruder, an award-winning Colombian craft brewery, opened its first U.S. location at the mall in May 2026 in the former Oviedo Brewing Company space. Yuji Sushi is here too. Both showed up as breakout searches on Google Trends for Oviedo this year, which tells me people are not just driving past anymore. They are looking the mall up on purpose.
That is a different mall than the one we were worried about.
We went there all the time. In the ’90s it was the place to hang out. Some of my first movies were there, including Christmas Day matinees. It has transformed over the years, from arcades to escape rooms, always changing, but it is still an Oviedo staple.
What This Means If You Own a Home Nearby
Here is what I am seeing, and here is what I am not ready to promise.
The upside. Mixed-use projects like this tend to pull restaurants and daily-needs retail with them. Walkable dining a few minutes from home is a real lifestyle upgrade, and buyers do pay for convenience. Oviedo buyers already tell me they want "things to do" without driving to Winter Park.
The honest part. Construction takes years. Traffic around Mitchell Hammock and Red Bug Lake will feel it before anyone feels the benefit. And 700 rental units add supply for renters, which is a different buyer than the move-up family in a single-family home.
The data today. Redfin shows Oviedo's median sale price at about $485,000 for the three months ending July 2026, down 5.9% from a year earlier, with homes going under contract in a median of 24 days. That is a market where the right house still moves quickly, and buyers have a little more room than they did.
My take: the mall project is not a reason to sell and not a reason to buy on its own. It is a long-term tailwind for east Oviedo, and a short-term inconvenience. Both things are true.
Frequently Asked Questions
Is Oviedo Mall closing?
No. The mall is staying open and adding apartments, a new entrance, and new dining around it.
When will the Oviedo Mall apartments open?
Based on reporting in July 2026, leasing for Phase 1 is targeted for around early 2028.
Is the old Sears building part of the plan?
The former Sears building is currently being marketed for lease or sale. Its future use has not been announced.
If you own near the mall and want to know what this means for your specific home, I am happy to run the numbers with you. No pressure. Just the full picture.
