Tampa-based Waterford Construction & Development has begun permitting for one of its signature office parks on an 8.7-acre parcel in Kissimmee's Loop submarket.
"We've done about 50 of these in Hillsborough, Pasco, Orange, Osceola and Seminole counties," Waterford President John Westfall said. "We did a project in Osceola already in the Loop area and we're currently doing one in Orange, Village of Hunter's Creek."
He spoke with GrowthSpotter Tuesday morning, following a meeting with Kissimmee's Development Review Committee. Westfall is under contract to buy a portion of the undeveloped property at the southwest corner of Dyer Boulevard and Ball Park Drive, south of a Publix-anchored shopping center.
Waterford develops, owns and manages its office parks, and the company offers build-to-suit offices for doctors and other professionals. Westfall founded the company 37 years ago. His wife heads the property management division, and their daughter also works on the development side.
Westfall said his first Osceola professional park, about a mile from the Flora Ridge site, is completely built out. The Village at Hunter's Creek is about 80-percent sold.
This is the first time he's working in the city of Kissimmee. He hired Hanson Walter & Associates to assist with site planning, design and permitting. "We figured we'd go with a local firm," he said.
The site plan calls for 22 office buildings totaling 62,200 square feet, and about 300 parking spaces. Westfall said he works with each client to design an office building tailored to their specific needs. The buildings can be anywhere from 2,000-6,000 square feet and start at about $440,000.
The project falls within the former Flora Ridge DRI, now a mixed-use PUD that extends north to Osceola Parkway. The MUPUD is entitled for 2,229 single family homes, 1,590 multifamily units and 1.4 million square feet of retail space. Other entitlements include 700,000 square feet of office, 400,000 square feet of industrial park space and up to 600 hotel rooms.