An Orlando real estate firm is eyeing a 27-acre assemblage at the the southwest corner of Narcoossee and Jack Brack roads with plans for a mix of commercial and residential uses.
Mike Bagdonas, principal InVenture Group, has a contract on the three parcels and held a pre-application meeting Wednesday with Osceola County’s Development Review Committee to discuss zoning and site development requirements. InVenture is represented by Raj Goyal of Premier Sotheby’s International Realty.
“We’re trying to do a first-class product,” Bagdonas told GrowthSpotter. “We’ve already designed it to comply with the Narcoossee Overlay, so there’s zero frontage and parking in the rear.”
The conceptual site plan calls for 122 residential units – primarily townhouses with a handful of detached homes on larger lots. Bagdonas said he anticipates developing commercial uses along the strip fronting on Narcoossee, which already has commercial zoning and land use.
A 4-story, 40,000-square-foot self-storage facility would anchor the hard corner of Narcoossee and Jack Brack, followed by medical offices and retail/restaurants. Bagdonas said the self-storage facility would be designed to look like an office building.
“With so much new home development going on, we feel like there’s a need for self-storage,” Bagdonas said. “But we know there’s a large facility going in on Boggy Creek, so we don’t want to over-saturate the market.”
He’s also looking to add a full-service car wash, a service that’s currently lacking on the Narcoossee corridor. Bagdonas said he anticipates subdividing and selling the commercial lots to the final end users. He’s also in early discussions with homebuilders for the townhouse portion.
“There’s a lot of interest because of the location,” he said. “There aren’t a lot of large, developed lots left directly on Narcoossee.”
Zoning Manager Amy Templeton advised Bagdonas to go ahead and reach out to District 5 Commissioner Fred Hawkins and to various stakeholders in the Narcoossee Overlay. “In this area out here, the citizens can be pretty vocal,” she said. “At this time, we don’t anticipate needing a community meeting, but we just took one to the Board and they kicked it back for a community meeting. And that one was must less intense than this."
The site is less than eight miles from Medical City. All three of the parcels are under the same ownership and are listed for $8.4 million. Cheree Fairley, a broker for Access Florida Realty in Fort Lauderdale, has the exclusive listing.
Jack Brack Road is one of five east-west corridors linking Narcoossee to the future Sunbridge development. D.R. Horton and Avex Homes are currently developing new subdivisions on Jack Brack, which is just north of fast-developing Jones Road.