Orlando developer Property Investment Brokersis taking on a new project — redeveloping land in Oakland once owned by a brother of 9-11 terrorist Osama bin Laden.
Oakland commissioners, last week, approved a development agreement crafted by the development team that carves out a large mixed-use community on a 16-acre land assemblage overlooking Johns Lake.
Plans calls for a neighborhood retail center with two restaurants, one being a 6,000-square-foot sit-down restaurant and the other a 3,500-square-foot quick-service restaurant; 20,000-square-feet of retail space; and a 5,000-square-foot bank.
The project, dubbed Johns Lake Point, also features entitlements to build up to 195 assisted living and independent living units and eight large single-family detached lots.
Bobby Luthra, director of operations at PIB Land, told GrowthSpotter the real estate company intends to develop the site, and is marketing commercial lots to potential users. He adds the development site, as a whole, is up for sale if investors are interested.
The property, located at and around 17812 W. Colonial Dr., features a large gated estate built in 1928 by William Pratt. Records show a company tied to Khalil bin Laden, one of Osama bin Laden’s 54 siblings, bought the house for vacationing in 1980 for a little more than $1.6 million.
It has been reported the wealthy business owner and his family fled the property under police escort a few days after the terrorist attacks.
Since then, the property remained untouched.
PIB Land, headed by Sadique Jaffer and Luthra, bought the site in lieu of foreclosure in 2019, after its previous owners Gary and Dana English, filed for Chapter 11 protection in U.S. Bankruptcy Court.
The Orlando developer is already in discussions with homebuilders for the proposed 219-lot subdivision.
By J. Kyle Foster
Oct 30, 2020 at 5:09 PM
The couple owed about $2.1 million on the property and managed to snag an interested buyer in 2018, but the contract fell through when LIV Development Inc.’s rezoning request seeking entitlements for up to 242 apartments and carriage houses was rejected by commissioners.
The town of Oakland is a small jurisdiction that lies near the Lake/Orange County line and sits near fast-growing neighborhoods in Orlando, Horizon West and Winter Garden.
The jurisdiction recently began to install sewers, and its residents have often attended council meetings with concerns over the future density of new projects and the associated traffic impacts.
The project is part of a larger master-planned community developed by Dwight Saathoff’s Project Finance & Development. The first phase, developed by Pulte Homes,consists of 84 single-family homes and 100 townhomes.
PIB Land is behind several projects throughout Central Florida. The Orlando developer plans to develop about 190 acres near Haines City for 219 single-family homes called Marion Creek Estates.
Last year, the company submitted plans to build a mixed-use project in Winter Garden that will feature a 50,000-square-foot indoor soccer facility with an outdoor practice field, a 50,000-square-foot bakery and up to 91,800 square feet of office/warehouse space.