Tampa-based DeBartolo Development has a purchase contract on a 14.5-acre site on Narcoossee Road and plans to build apartments in the area that’s long been dominated by industrial uses.
“We’ve been working on this property for at least six months,” said Jill Rose, vice president of Bishop Beale Duncan, who represents the developer.
The site at 7567 Narcoossee Road is about halfway between the Beachline Expressway (S.R. 528) and Lee Vista Boulevard. It’s surrounded by mostly industrial warehouse stock. DeBartolo would have to file a major PD Amendment to allow for the proposed 324-unit apartment complex.
“They’re somewhat of a pioneer in what they’re doing, because of the way those properties were platted,” Rose said. “They’re very narrow and skinny, with not much road frontage, but a lot of depth. They were platted 30 years ago, and that made sense because it was close to airport. But with the addition of Lake Nona, all of that residential growth is bleeding north.”
The pending development of Vista Park, which has approvals for over 4,000 homes and apartments, is also a game changer for the area, Rose said. The property, a former WWII bombing range, has finally cleared environmental regulations to allow development of the 1,500-acre site at the Beachline and S.R. 417, the Greeneway Expressway. Randal Park and Meridian Park, both by Mattamy Homes, are two other large-scale master-planned communities bringing thousands of residents to Southeast Orlando.
Rose and Florida Engineering Group‘s Sam Sebaali met last month with City of Orlando planners for preliminary discussions about the site and permitting.
Fugleberg Koch prepared conceptual plans for the site using two development scenarios. Both would have 324 apartments with the same unit mix, but one plan calls for three-story buildings while the other calls for four-story buildings.
“Generally speaking, with the four-story product — if the density is the same — you get more green space,” Rose said. That plan also has 40 detached garage units, while the other utilizes strictly surface parking.
DeBartolo project manager Travis Williams told GrowthSpotter the company still has a few months in its inspection period before it decides whether to pull the trigger and close on the land.
The firm has completed several luxury apartment and retail developments in this market, including Mills Park and Domain at Margaritaville. DeBartolo currently has two new apartment communities in the development pipeline in Kissimmee’s Amber Pointe on E192 and in Sanford, across from the SunRail station.
Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.
