A pair of local medical doctors hold nearly five acres under contract in the Summerport Village district of Windermere, with plans for a multi-purpose medical office complex meant to capitalize on rapid residential growth in west Orange County.
Located on the northern side of the intersection of Village Lakeview Avenue and Lake Smith Circle, the 4.66 undeveloped acres are part of the 196-acre Summerport Village mixed-use development, which lies within Horizon West's Village of Bridgewater.
The two adjacent parcels were supposed to serve as a final stage of retail-commercial support for the 332-unit The Retreat at Windermere apartments, which Tampa-based DeBartolo Development built in 2013 and promptly sold in 2014 to real estate investment management firm Heitman.
Drs. Saleh Parvez and Sherin Parvez, owners of Silver Lining Psychiatry and other medical businesses, have the property under contract from Debartolo, with a deposit that has gone hard. They're seeking a pre-app meeting with Orange County staff to discuss what would be their first commercial development venture.
"Our vision is to develop in this area where Windermere residential is dominant and commercial tracts are rare," Saleh Parvez told GrowthSpotter. "Having tens of thousands of households moving to Horizon West, that community will need more medical services. We envision a multi-specialty complex, practitioners could range from dental to plastic surgery and anything in between."
The couple's conceptual site plan calls for up to seven medical office buildings ranging from 2,500 to 15,000 square feet, totaling a potential 52,000 square feet if fully developed.
Their Silver Lining practice currently is in leased office space in Winter Garden, so relocating and expanding to the new site would be the focus of Phase 1 with a 15,000-square-foot building.
Closing on the land purchase is tentatively set for late July, Parvez said. He has yet to choose a general contractor for the project, estimated at $6 million for the first building, and will be seeking a construction loan in the coming months.