Orlando-based Elevation Development‘s plans for a mixed-use community in Davenport continue to evolve and now include a 7-Eleven that is under construction, an Aldi grocery store, 358 apartments, a self-storage facility, a hotel, and a medical office park.
A year ago, Elevation changed gears on nearly 30 acres at U.S. 27 and Minute Maid Ramp Road – selling 20 acres that now have townhomes under construction and replacing a planned shopping center with a multifamily and mixed-use plan. The developer at that time acquired another 7 acres and received zoning approval earlier this month to build the apartments. On the commercial property — in addition to the 7-Eleven and the Aldi — Elevation plans a self-storage facility, hotel and medical office building, Elevation Principal Owais Khanani told GrowthSpotter.
On Friday, Elevation closed on the purchase of an additional 12.5 acres – 3 parcels – at Crescent Road and U.S. 27, paying $3 million. Khanani said he is in active talks with a regional bank, a national car wash concept, and a national coffee concept. JLL’s Antonio Poma is marketing the new outparcels.
In 2019, the property was entitled for 90,000-square feet of retail and more than 300 townhomes, and Elevation planned a Planet Fitness and grocery-store anchored shopping center. Elevation last year scaled down the commercial to 17 acres. That remains the same, Khanani said.
Elevation’s apartments don’t have a name yet but will be Class A Luxury, Khanani said. Amenities will include a 9,000 square foot pool and clubhouse. Elevation is using Tampa and Orlando-based Hamilton Engineering and Scott Webber of Winter Park-based ACi Architects. A site plan shows three types of apartments plus four carriage house buildings, each with two units. The garden apartments – all in 4-story buildings – include 165 one-bedroom, 156 two-bedroom and 37 three-bedroom.
“Now that we have our zoning approving, we’ll start accelerating that process and we’ll be working with a branding company,” he said. Horizontal work should start in 5 to 6 months with completion and renting beginning 12-15 months after that. Elevation will manage the properties, Khanani said.
Elevation has lease agreements with Aldi and 7-Eleven, Khanani said. 7-Eleven is under construction, and Aldi should get underway in January. The planned 4-story hotel doesn’t have a flag yet. Khanani said he’s in talks with several hotel groups and “it’s likely to be an extended stay of some sort. It’s really the proximity south of I-4 with the traffic and the construction in the area and all the jobs in the area, we feel that this will be a good fit.”
The medical office park is shown as a pair of one-story multitenant buildings with a combined 30,000 square feet, according to the Citrus Ridge Concept Site Plan by ACi. It also shows the 7-Eleven; the Aldi; a self-storage facility on 2 acres with 10,000 square feet of RV storage and a 3-story, 90,000-square-foot high-density storage facility. The hotel; the recently purchased outparcel; and the apartments are all on the plan.
RISE Real Estate is currently building the 222-unit Towne Grove at Citrus Ridge, which will be a build-to-rent community. The project was designed by Dwell Design Studio and incorporates a mix of two- and three-story townhomes. The two and three-bedroom units each feature a one-car garage, covered patio, and fenced-in backyard. It is scheduled to be delivered in March 2023.
“We are excited to join the Davenport community,” COO Courtney Gordan said. “Towne Grove will bring another option for housing to the families and professionals in this area. We plan to provide a set of community services, amenities and our commitment to excellence to serve our residents and compliment the neighborhood at large.”
Residents will have access to a pool with covered cabanas, a covered outdoor kitchen, a dog park, and a children’s playground, among other amenities. The clubhouse will invite residents to enjoy the lounge and recreation areas as well as make use of private work booths and multifunctional spaces. A fitness center will also be accessed through the clubhouse.
Elevation has another mixed-use project at Ridgewood Lakes Blvd and U.S. 27 in Davenport called Ridgewood Lakes. Khanani plans 60 townhomes in the back and a 7-Eleven on the front two acres on the 10-acre tract he owns that used to be home to a motel. He expects to break ground on the commercial piece in 60 days.
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