Ravaudage developer Dan Bellows is readying to ignite more development plans in Winter Park.
Bellows, president of Winter Park-based Sydgan Corp., told GrowthSpotter he has plans to develop a roughly 100,000-square-foot self-storage facility at 874 Clay St., where he has amassed about four acres of land on Winter Park’s Minnesota Avenue.
The site is part of a larger assemblage that consists of seven contiguous parcels, east of Clay Street and west of Harold Avenue, that Bellows began acquiring in 1998.
A majority of the land is mostly occupied by single-story warehouse buildings that are 40 years old or more.
After nearly 20 years and more than $3.1 million spent on assembling the land, Bellows is proposing a self-storage facility that will contain 9,800 square feet of retail space wrapped around its first floor and a 3,800-square-foot roof-top terrace that he said could open to the public as a restaurant or neighborhood pub.
“This will be a very unique self-storage building,” Bellows said. He adds it would serve a slew of apartments being planned just south of Fairbanks Avenue. “It’s a great location for that product.”
More than 500 apartments in the area are being developed by Atlanta-based developer Trammell Crow Residential (TCR).
In the past two years, the firm has worked out deals with the Calvary Assembly of God to purchase access property just east of I-4, between Minnesota and Dartmouth avenues.
Under construction on the southwest corner of Clay Street and Harmon Avenue, the company is building a 310-unit apartment complex called Alexan North End. TCR is also looking to build a 220-unit apartment project on the southwest corner of Clay Street and Oglesby Avenue.
Bellows told GrowthSpotter he sees the growth of Orlando’s Health Village and Ivanhoe Village, a few miles to the south, as a catalyst for his development.
He said he eventually wants to develop the remaining portion of land on the northeast corner of Minnesota Avenue and Clay Street into housing that would be affordable for nurses, paramedics and staff associated with the hospital.
Meanwhile, his master-planned Ravaudage community is coming into its own.
The Simpson Organization (TSO), a real estate investment firm based in Atlanta, bought the site and development rights of his Ravaudage self-storage facility in 2017 for $3.55 million. The self-storage facility is complete and will be opening soon, Bellows said.
It stands directly behind the 278-unit Bainbridge at Winter Park apartment development and the 268-unit Broadstone at Winter Park project at 1305 Morgan Stanley Ave., which recently sold for more than $84 million.
Underway at Bellows’ roughly 75-acre Ravaudage master-planned community, include a four-story 126-room Marriott Springhill Suites at 1127 N. Orlando Ave. and a 102-room Hilton Garden Inn hotel at 1345 Lee Rd., next to the Millers Ale House restaurant.
Nearby, a 107-unit senior living community called Watercrest Winter Park is being developed by Watercrest Senior Living Group and Titan Development Real Estate Fund I. The soon-to-be finished project sits on the corner of Glendon Parkway and Bennett Avenue.
Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.