The Michigan-based developer who built the Heritage Key Villas townhome community in Kissimmee is rethinking the plans for the final phases of the approved 616-unit community next to NeoCity.
Affiliates of Land & Company Apartments, based in Wyoming, Mich., are nearing completion of the project’s second phase, which would bring the number of units to 282. The project was designed to be built over five phases, but a new Site Development Plan filed with Osceola County in December indicates the owner is planning to combine the final three segments and develop the remainder of the site as a 321-unit apartment community.
The plan calls for 13 residential buildings on 30.3 acres just west of the existing townhouse community and south of the Magic Landings subdivision. It falls within the E192 Community Development Area and is designated as a residential infill site.
The project originally was part of a larger PD called Neptune Pointe. Last summer LandCo amended the PD for Phase 2, which was still under construction, to comply with updated parking requirements. The PD amendment did not address Phase 3.
The expansion of Valencia College and anticipated job growth at NeoCity have been driving factors for new multifamily construction along the E192 corridor.
Park Square Homes has plans approved for a mixed-use project next to the college called “The Neo." It will be anchored by a 350-unit apartment community.
Investors Realty and Panther Residential Development are teaming up to build NeoSquare, a 292-unit lakefront Class A community that will front on Ethos Park Drive in NeoCity.
Birdsong Housing Partners is building Gannett Pointe, an 80-unit apartment complex for low-income families, next to the Heritage Key site. West Virginia developer Chris Harbert of C&C Investments is also planning 108 market-rate apartments on the adjacent parcel.
DeBartolo Development Group is building a 315-unit Class A complex called Settlement at Amber Pointe on E192 at Partin Settlement Road.
Aventura-based Landmark Companies has filed a Site Development Plan for a 10.9-acre site on Oak Street. Plans call for a community called “Landmark in Kissimmee” with 247 units.
Editor’s Note: This story has been updated with the new site plan for Phase 3.