Proposed for 6461 Westwood Blvd., the company has 4.46 acres of the parcel under contract for eventual purchase from an Orlando-based developer, who is positioned to buy it first along with a neighboring 5 acres owned by the same seller. That middleman developer's name could not be confirmed on Monday.
Epelboim filed a new Development Plan with Orange County on Monday, after civil engineering representatives with DRMP, Inc., discussed a concept plan with county planners at a pre-application meeting in early January.
DRMP representatives said during the January meeting that their client, the local middleman developer, had an option-contract on the two parcels totaling 10 acres.
The prospective seller and current owner is Orlando Westwood Loan Associates LLC, an affiliate of BNP Paribas Bank, which acquired this and a neighboring 5-acre parcel for $100,100 in September 2013 following unpaid loans by previous owner Sham Majaraj.
Executives with Epelboim Development declined to comment on its plans for the property on Monday, citing a non-disclosure agreement.
The property lies southeast of the Interstate 4-Beachline Expressway intersection, with quick access to OCCC via a flyover bridge that leads right to the West Concourse.
It is also adjacent to a 20-acre site bought in late November by developer DCS Real Estate Holdings, which is pursuing plans for a convention-level hotel tower with 1,000 to 1,200 keys.
Epelboim's target property is one of four undeveloped parcels totaling 16 acres east of DCS Real Estate's land, each with entitlements allowing high-rise hotels.
Aside from Orlando Westwood Loan Associates' other 5-acre parcel there, Winter Park-based Magnolia Advisors owns a 1-acre parcel fronting Westwood Boulevard that is under contract, according to principal Brian Cirillo.
And east of that is a 5-acre parcel on the hard corner of W. Entrance Drive and Westwood Boulevard, owned by Winter Park-based Avanti Properties Group. That land remains for sale with "detailed discussions underway with some interested parties," said Steve Taylor, listing broker for the property with Hunter Hotel Advisors.
Epelboim's Tru Hotel DP is scheduled to go before the county's Development Review Committee on March 15.
Epelboim has developed residential and commercial projects in Venezuela, Costa Rica and South Florida, and recruits EB-5 immigrant visa investors to help finance many of its projects.
This would be Epelboim's second hotel project, according to a portfolio listing on the company's website. Its first hotel development is a 190-key EVEN Hotel at Miami International Airport, a $33 million project that broke ground last October and is projected to open in First Quarter 2018.