The owners of 130 acres near Disney World that was previously approved for a luxury resort are now seeking to rezone the vacant land and are marketing it as a potential industrial park site.
Pennsylvania-based Florida Bramingham Inc. has owned the land since the 1980s and recently applied to change the zoning from Tourist Commercial to Employment Commercial. Osceola County staff recommends approval, and the case heads to the Planning Commission and Board of County Commissioners in February.
The land was previously under contract for a mixed-use, luxury vacation home resort called Park Place Resorts. The development team had envisioned the project as an eco-friendly resort that would cater to “very high-end clients.” The Preliminary Subdivision Plan called for 130 vacation homes, each on 70-foot lots, plus an event center, helipad and 10-story hotel. The plan was approved in early 2020 and the developer was scheduled to close the following year, but when the contract expired the seller opted to go in another direction.
CBRE’s Robert McEwan, Michael McEwan and Austin Weller now have the exclusive listing and are offering it for industrial and distribution — uses that are prohibited under Tourist Commercial zoning.
The site at the northeast corner of Old Lake Wilson and Sand Hill roads is across from the Mystic Dunes Golf & Country Club and is surrounded by new development, including EastGroup Properties’ Horizon West Logistics Park immediately to the south. EastGroup recently filed plans for Phase 3 of the flex business park, which is approved for 1.5 million square feet.
Chris Segrest, managing director for EastGroup’s Florida Division, said the company had leased 73,000 square feet within a few months of getting its first Certificate of Occupancy in October. Phase 2 will add roughly 300,000 square feet of cross-dock space in June, plus another 100,000 square feet of rear-load warehouse space in September.
Just north of the site, Lennar Homes is currently building a 204-unit townhouse community called Lake Wilson Reserve. The homebuilder purchased 24 acres last summer for $4.5 million.
Several new multifamily developments are also in the pipeline on this stretch of Old Lake Wilson Road. DeBartolo Development is under contract for a multifamily community, which is still in the design stage. Meanwhile, NRP Group has applied to amend the Bunker Hill Planned Development on Old Lake Wilson Road, near the entrance to Mystic Dunes, to allow up to 360 multifamily units on 14.85 acres.