Kissimmee developer Thomas Chalifoux Jr. has been banking on future growth around the Poinciana SunRail station for more than a decade. Now the time is right to launch a project that could bring up to a million square feet of retail and commercial space to the area.
Chalifoux has filed a Site Development Plan with Osceola County and last week filed construction plans with the South Florida Water Management District for a commercial subdivision called Poinciana Crossing, situated on 35 acres at the southeast corner of U.S. 17-92 (Orange Blossom Trail) and Poinciana Boulevard. The vacant parcel is the site of the former Florida Bible College, which was demolished.
Chalifoux had won approval in 2008 from Osceola County for a three-phased development of up to 1 million square feet of commercial, office and retail uses to be called “Poinciana Parke.” Hanson Walter and Associates is the civil engineer.
The Planned Development was described as a commerce center for retail sales and services, offices and entertainment venues incorporating free-standing, multi-story buildings and a parking garage. The PD was extended twice, but appears to have expired in 2014.
Niles Chalifoux, the developer’s son and property manager, previously told GrowthSpotter that project never got off the ground because of the great recession. Now they feel like the time is right, and they’ll be looking for a CRE firm to assist with leasing and sales in the near future.
“We’re excited about it,” he said. “With us being within a quarter-mile of the SunRail station, we think there’s a nice opportunity to do a live-work-play type of project with retail, office and residential.”
Thomas Chalifoux also owns the 22 acres at the southwest corner of U.S. 17-92 and Poinciana, which he bought in late 2017 for $1.85 million. That property also has an expired PD. Chalifoux’s Sunray Management Group represents both properties, but the developer said he has different investment partners on the two sites.
The latest plan subdivides the property to create 17 individual lots and related infrastructure to be developed across the first two phases and reserves 11.85 acres for a future third phase.
“The current plan is to sell the individual lots for retail use,” Chalifoux told GrowthSpotter. “The land is too valuable for industrial.”
All of the lots range in size from about a half acre to 1.5 acres, while the third phase could serve big-box or grocery anchored retail. The underlying land use is Employment Center, which also allows multifamily development – another potential use for Phase 3.
Chalifoux said he is in discussions with grocery developers for the Phase 3 parcel and for the 22-acre site across the street. “Both sides have potential for grocers,” he said.
The proximity to SunRail also makes it attractive for multifamily, Chalifoux added. A 3.8-acre master stormwater pond would serve the entire development. Specific users are not identified, but the SDP indicates that buildings would have to be a minimum of two stories or equivalent height and no taller than three stories.
That future development parcel abuts the Trinity Industrial Park, which is being expanded by Hanover Capital Partners.
Just southwest of the property, McLane Suneast is seeking permits to expand its grocery distribution warehouse by over 200,000 square feet.
Wilson McDowell of JLL is heading up the leasing at Trinity Industrial Park. He told GrowthSpotter the Chalifoux property is ideally suited for retail along the road frontage but could also offer warehousing in the back.
“We’ve got the project next door, and I think that area is primed to be a good location for a lot of users,” McDowell said. “We’ve seen a lot of activity we already lease in that area. McLane is expanding, so that’s good news. And there’s a lot of residential construction in that area.”
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.
