Colonial Promenade Redevelopment Plan Nears Vote

Landlords and tenants along East Colonial Drive face a 30-year lease proposal with a $20 million minimum improvement commitment.

Updated on Nov. 4, 2026 in Openings & Closings

Colonial Promenade Redevelopment Plan Nears Vote

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The Greater Orlando Aviation Authority is weighing a proposal from the Wideman Company to redevelop and rebrand the Colonial Promenade shopping plaza on East Colonial Drive. The plan would keep much of the existing design while focusing changes on the west building, with a proposed 30-year lease and a minimum $20 million investment in improvements.

Why it matters

The aviation authority has sought to redevelop the 180,000-square-foot plaza since 2018 without finding a developer, and two remaining tenants are expected to leave before the end of 2026. For Orlando landlords and retail operators, a long-term anchor commitment would reshape leasing demand along the East Colonial corridor after years of vacancy.

The 180,000-square-foot plaza, built in 1985, is owned by the Greater Orlando Aviation Authority, and the Wideman Company's proposal commits to a minimum $20 million investment. The 2024 solicitation drew two letters of intent, one from Wideman, after an earlier solicitation was withdrawn for lack of interest.

The players

Wideman Company

A developer presenting a redevelopment and rebranding plan for the Colonial Promenade, the only bidder among the two 2024 letters of intent named in the source.

Greater Orlando Aviation Authority

The public agency that owns the Colonial Promenade property and oversees its redevelopment as the landlord controlling the site's lease terms.

The details

The proposed design keeps much of the plaza's existing architecture and arches while adding a new color scheme, plants, street art, and weather and shade features. The west building would receive most of the changes, while the east building would be leveled and potentially replaced with a larger-format store. The lease proposal pairs a 30-year term with two 10-year renewal options, which would give a tenant long-horizon control of the site.

2018: The aviation authority began seeking redevelopment of Colonial Promenade.
2020: Sweet Tomatoes and the library branch closed.
2024: A second redevelopment solicitation was issued, and Sam Ash closed.
November 4, 2026: Wideman Company presented design renderings at a committee meeting.
November 18, 2026: The full aviation authority board will discuss the proposal.

Market Landscape

The Colonial Promenade has gone through repeated redevelopment attempts since the aviation authority began seeking a developer in 2018, with the 2024 solicitation drawing just two letters of intent. The Sam Ash closure in 2024 and the 2020 departures of Sweet Tomatoes and a library branch illustrate the tenant turnover that preceded the current proposal.

Landlords and retail operators near East Colonial Drive should watch how the aviation authority's board handles the proposal, since a 30-year lease with renewals would fix a major anchor's presence for decades. Tenants currently in or considering the plaza should plan for the expected departures before the end of 2026.

The takeaway

Operators tracking the East Colonial corridor should watch the November 18 board discussion as the first formal step toward a long-term developer commitment after years of stalled solicitations. Calendar the board date and track whether the final lease terms reflect the minimum $20 million investment commitment.