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Property owner preps land on I-Drive to feature four new hotel towers and large retail plaza

The PD allows a maximum height of 200 feet for hotel buildings.
The PD allows a maximum height of 200 feet for hotel buildings. (Orange County)

The property owner of a longtime vacant parcel along International Drive is helping draw out plans to introduce a new resort destination to Orlando’s tourism corridor.

Camden Market, as referred to in plans submitted in Orange County, features four towering hotels, with a total of up to 2,120 rooms, alongside a large retail plaza poised to accommodate up to 380,000 square feet of retail and restaurant space across 22 buildings.

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The plaza will have a European feel, Jay Jackson, senior vice president and principal at Kimley-Horn and Associates, said Wednesday at a Development Review Committee meeting. Images presented to planners featured cobblestone streets, eateries with outdoor seating, heavy landscaping, and low-rise retail buildings with balconies.

Four towering hotels containing large digital art displays are also seen in conceptual renderings, but future development plans would need certain Orange County approvals to incorporate such screens. Only a limited amount of areas in Orange County and the I-Drive District allow for large digital art screens.

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The proposed Camden Market resort destination features more than 2,000 hotel rooms and 380,000 square feet of retail and restaurant space.
The proposed Camden Market resort destination features more than 2,000 hotel rooms and 380,000 square feet of retail and restaurant space. (Orange County)

Baker Barrios Architects was listed as the architect of conceptual site plans and renderings.

The roughly 35-acre site sits directly east of the Discovery Palms condominium complex at 12806 Madison Pointe Circle, near the Orlando Vineland Premium Outlets.

Records show PRN Real Estate & Investments, led by Nancy Rossman, has owned the property for more than a decade. The company took ownership of the foreclosed site in 2009 after the previous owner, Cape Light Development International Drive I, failed to pay a $16.36 million mortgage.

With the help of Jackson and legal council James Willard, a partner in the Orlando office of Shutts & Bowen, PRN Real Estate & Investments is seeking to amend the Wildwood Internation PD to increase entitlements from 390,000 square feet of retail and 532 multifamily units to 380,000 square feet of retail, 2,120 hotel rooms and 532 multifamily units.

In 2008, a 456-multifamily community, just south of the proposed Camden Market development, was built within the PD.

The Camden Market project site sits between International Drive and Daryl Carter Boulevard. The property was previously under contract with developer Vincent Desai who was looking to build up to 708 new timeshare units in a project called dubbed Global City Center, but the deal fell through.

A conceptual site plan shows 22 low-rise retail buildings, open space, four hotel lots and space for parking.
A conceptual site plan shows 22 low-rise retail buildings, open space, four hotel lots and space for parking. (Orange County Property Appraiser/Orange County/GrowthSpotter)

Nearby, Atlanta-based multifamily real estate company Davis Development bought 27 acres along the future Westwood Boulevard extension with plans to construct a 400-unit multifamily development.

The Westwood Boulevard extension is expected to activate more than 200 acres of new development to the east. The Rita Westwood project is named after its current owner Rita J. Friedman, who bought the property in 1995.

Ray Turchi of Marcus & Millichap represents Friedman along with a number of property owners in the area, including the Shingle Creek Co-Owners LLC, which acts as a vehicle for a conglomerate of investors that together own nearly 600 acres of land, more than half is not considered developable.

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.

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