Orlando-based MMI Development is in permitting review with the city of Maitland for the first stages of commercial development on its mixed-use Maitland West project, with retail tenants under contract and more apartments on the way.
Located on the southeast corner of Forest City Road (S.R. 434) and W. Maitland Boulevard, more than 34 acres were assembled by MMI president Michael E. Wright between 2007 and 2015, with rezoning and entitlements eventually approved in July 2015 for 700-plus apartments and 1.2 million square feet of commercial.
Cleveland-based multifamily owner-operator NM Residential paid $13 million in September 2015 for 19.6 acres of the project, planned for the first and second phases of apartments. Its initial 315-unit Maitland West apartments are wrapping up construction for a projected January opening.
Now MMI is progressing with infrastructure approvals and initial tenants for the 14.66-acre commercial lot at the hard corner, with a portion of that site also under contract to NM Residential for a third phase of apartments.
The project went before Maitland's Planning and Zoning Commission on Oct. 19 for a Planned Development ordinance amendment. This is needed to allow the next phase of development on the commercial lot, which would include new and modified retention ponds, an access road cutting through, the first two retail tenants, related parking, and new access from Maitland Boulevard to the Phase 1 apartments.
MMI's first two retail tenants are expected to be a 10,820-square-foot emergency medical clinic, and a 5,000-square-foot Panera Bread restaurant.
One of MMI's original desired uses for the commercial phase, a self storage facility, was denied by Maitland planning staff earlier this year. The developer won't be targeting any large retail anchors now, preferring to focus the property on multiple outparcels and inline space, Wright told GrowthSpotter.
"By the end of First Quarter 2018 we would like to be breaking ground on the medical clinic and Panera, and building the road," he said.
NM Residential's Lot 2 (9.51 acres) remains undeveloped, planned for another 385 apartments. The company now has about 3.5 acres within the commercial area also under contract for $4.4 million, with a hard deposit.
That third phase of apartments at Maitland West could be an estimated 317 units, said Michael Niederst, president of NM Residential.
Neiderst is still considering whether to develop the Phase 2 or Phase 3 apartments site next, or both concurrently. Another PD amendment will have to be filed with the city after this to formally add the next phase of apartments.
Maitland staff decided to allow MMI to submit its PD amendments for concurrent review while the Comprehensive Development Plan amendment is under review by the state's Department of Economic Opportunity.
Stormwater permits were applied for the Lot 3 commercial in October with the St. John's River Water Management District. And approval was granted in recent months by the Florida Department of Transportation for new access points on Forest City Road and Maitland Boulevard.
GAI Consultants has served as planner, Forum Architecture & Interior Design as architect, and Walker & Company as general contractor on the project thus far, along with Luke Transportation Engineering Consultants, Central Florida Strategies and Bio-Tech Consulting.