Orlando-based Green Slate Land & Developmenthas signed a deal with M/I Homes to build the townhouse portion of its 30-acre mixed-use project on Narcoossee Road in St. Cloud.
The city’s Planning Commission recommended approval for the proposed Larson at Narcoossee PUD at 1651 S. Narcoossee Rd. that would entitle the site for 320 apartments, 104 townhomes and 25,000 square feet of neighborhood commercial uses on two outparcels fronting on Narcoossee at the main entrance. The site is a half mile north of U.S. 192.
GSL President and CEO Isaiah “Ike” Cottle had his pick of homebuilders for the townhomes. He told GrowthSpotter he really liked the M/I Homes design, which maximized parking by incorporating 1-car and 2-car garages with driveways that accommodate 2 additional cars. M/I Homes is currently building the same product in Sanford at its Towns of White Cedar community.
“They’ve been great to work with, so it checks all the boxes from our standpoint,” he said.
M/I Homes has been active in the corridor, having completed communities like Narcoossee Village and Narcoossee Del Sol. The builder also is under contract for a new 72-unit townhouse development called Franklin Villas, near the intersection of Narcoossee and Cyrils Drive. Company representatives declined to speak with GrowthSpotter about pending projects in Osceola County.
Cottle had sought a parking reduction for the multifamily and residential portions of the project, but the Planning Commission denied the request. He’ll try again when the case heads to City Council on March 11, bringing his experience as a longtime project manager for The Bainbridge Companies who completed luxury multifamily communities on Narcoossee Road like Nona Place.
City Code requires two parking spaces for each multifamily dwelling unit.
“We had proposed a minimum of 1.8 spaces per unit, which in my experience is more in line with where the luxury apartment market it,” Cottle said. “So we went back and forth on it a little bit. I understand their position. Of course, we made our position clear, as well, that if the parking minimum kept at two spaces or more we would be trading off some open space for that.”
The proposed St. Cloud apartment complex would be the first on Narcoossee Road south of the Orange County line. Cottle said he’s received interest from experienced multifamily developers for the site and will relaunch the marketing effort for the site next week. GSL will hold onto the commercial lots for future development.
Meanwhile, GSL just went under contract for another 30-acre site on Narcoossee at the intersection with Jack Brack Road. This site is in unincorporated Osceola County and lies within the Narcoossee Overlay District.
Cottle has requested a pre-application meeting with the county’s Development Review Committee to discuss the potential rezoning and site planning for the site. The initial concept calls for a mix retail and residential uses, including a potential pharmacy with drive-thru lane and small-scale grocery store, townhomes and apartments.
He told GrowthSpotter he plans to work with planning officials, elected officials and the community to create a well-planned development. The response from the retail industry has been strong.
“Our focus is to bring attractive retail tenants and services to serve both existing and future residents of the immediate area,” he said. “As this is the first step in a 12-18 month process, the plan proposed will change and be refined through the course of this process as we incorporate comments from community stakeholders.”