Kissimmee real estate broker Thomas Chalifoux acquired 22 acres of vacant land this week at a major intersection a quarter mile from the new Poinciana SunRail station.
Chalifoux, founding broker of Sunray Management Group, paid $1.85 million for the land at the southwest corner of Orange Blossom Trail (U.S. 17-92) and S. Poinciana Boulevard.
The site had an approved Comprehensive Development Plan dating back to 2006 for a 205,000-square-foot shopping center that would have been anchored by a 122,000-square-foot big box, a grocery store and inline retail. The shopping center was to be called Poinciana Crossings.
The site is directly across from another 37-acre parcel Chalifoux previously owned at the southeast corner of the same intersection. Chalifoux, a retired army colonel and former Osceola School Board member, had won approval in 2008 from Osceola County for a three-phased development of up to 1 million square feet of commercial, office and retail uses to be called "Poinciana Parke."
The Planned Development was located on the site of the former Florida Bible College, which was demolished leaving the site vacant. The project was described as a commerce center for retail sales and services, offices and entertainment venues incorporating free-standing, multi-story buildings and a parking garage. The PD was extended twice, but appears to have expired in 2014.
Chalifoux lost the property to foreclosure in 2015 and filed for Chapter 11 in an attempt to stave off a court-ordered sale. Tampa-based Osprey Capital gained title to the 37-acre tract in 2016 for $3.9 million.
Chalifoux could not be reached for comment on Thursday.
The extension of SunRail, which opens in July 2018, has been a catalyst for new development in the area. Restaurant Depot is currently building a 60,000-square-foot warehouse store a block south on Poinciana Boulevard. And AV Homes expects to break ground in February on an 335-home community just north of the SunRail station.