Commissioner Patty Sheehan had announced that a press conference would be held at the park at 1 p.m today (Friday, October 2) to announce some exciting news concerning the future of Constitution Green, which the Orlando Sentinel apparently uncovered early.

According to the Orlando Sentinel, Mayor Buddy Dyer has signed a letter of intent to purchase the privately owned Constitution Green property from the Caruso family.

Constitution Green is a public park that the City of Orlando has been leasing from the Caruso family for decades, for $1 a year. Bungalower learned back in March that the Carusos were planning on selling the land to a developer, which would put the park and its old growth oak trees in danger of being leveled.

The Caruso’s will be getting $3.34 M from the CRA budget, and a property at 129 E. Gore St. [GMap] (just across from the future Lucerne project), that according to the Sentinel, is worth $2.5 M.

The deal is set to close on Jan. 31 but still must be approved by the City Council and the CRA.