Orlando-based Banyan Development Group is proposing to develop a mixed-use tower in downtown Orlando that will offer both income restricted and non-income restricted apartments.
The proposed 13-story mixed-use building is planned to rise at 417 E. Jackson Street, just south of the nine-story, 299-unit Camden Thornton Park apartment building.
A majority of the prospective 139 apartments at the project, dubbed Mariposa Groves, will be restricted to people who are 55 years of age or older and have limited income.
More than 75 percent of the units (109 units) will be set aside for households making 60 percent or less of Area Median Income (AMI), with 10 percent of those units (14 units) set aside for households making 35 percent of AMI.
The remaining units (30 units) will also be age restricted, but will not be income or rent restricted.
Banyan will pay for tenants’ water, sewer and trash services.
Studio, one-bedroom and two-bedroom units will range from 441 square feet to 837 square feet.
Amenities will include meeting rooms and a fitness center, which will be located on the first residential level that’s anticipated to be on the sixth floor. The development will also have a courtyard garden amenity, or green roof, above the highest parking garage level.
About 180 parking spaces will be available at the U-shaped residential tower that will be located between floors 2-5 at the development.
Up to 18,500 square feet of commercial space is poised to front Mariposa Street, according to submitted plans in the city of Orlando.
Plans are tentatively set to go before Orlando’s Municipal Planning Board in late June.
The developer is seeking to rezone about 0.7 acres of land for its Mariposa Groves project, and an amendment change to the property’s current Planned Development designation known as the Orlando Lutheran Towers PD.
Banyan Development Group has funded, completed, and fully leased up several affordable housing developments throughout the state.
The company recently won rezoning approvals from the city of Orlando that will allow it to move forward with its 138-unit Fern Grove senior housing project near Orlando’s Packing District neighborhood.