Leaders in Orlando hope to break ground by early 2011 on the proposed Dr. Phillips Performing Arts Center, which could bring 3,000 jobs to Central Florida.
The center would be built in the downtown area of Orlando near South Street and Magnolia Avenue.
City officials have tried for more than 20 years to build a successor to the Bob Carr Performing Arts Center.
"The idea of the plaza is community involvement," Balfour Beatty Construction spokesman Rob Baker said.
Groundbreaking could happen within the next three months. Phase 1 of construction would include two of the three planned theaters.
Officials with the project said the team is reviewing 363 bids from companies on 84 bid packages, which include everything from electrical to masonry to painting work. The bids will be turned into recommendations for City Council to approve in January.
The big concern is that the bids that have come in may exceed the $250 million that is available to build the first phase of the project.
"We know that we have a gap on that, and we're hopeful because our design team is very efficient to divide the building as close as possible to the current funds that we have," Dr. Phillips Art Center President Kathy Ramsberger said. " We know that the gap that we have is very achievable."
More than $7 million has already been spent to design the center, with 31 percent of that work going to women and minority-owned businesses.
Veronica Anderson will make sure at least 24 percent of the construction contracts are awarded to women and minority-owned businesses and their workers.
"Everybody will feel a part of this bidding process, and as we move forward, they feel a part of this as they become patrons, as well," Anderson said.
Supporters of the project said it could easily be a big draw for tourists. About 7 million people from outside of Florida visited the state's cultural destinations last year and spent $4.5 billion.