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Osceola County Developments

O’Connor Capital planning more apartments in Kissimmee’s Tupperware submarket

Growthspotter
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The parcels outlined in blue are owned by Tupperware and part of a joint venture development agreement with O'Connor Capital Partners. The same developer has a purchase contract on the two parcels outlined in red and is seeking to rezone them for more commercial and multifamily use.

The parcels outlined in blue are owned by Tupperware and part of a joint venture development agreement with O'Connor Capital Partners. The same developer has a purchase contract on the two parcels outlined in red and is seeking to rezone them for more commercial and multifamily use. (Osceola County Property Appraiser/staff edit)

A developer known locally for building shopping centers is doubling down on its new multifamily plans in Kissimmee.

O’Connor Capital Partners (OCP) and Tupperware are finalizing the phase one plans for their joint venture mixed-use district at the Tupperware SunRail station – a plan that could include up to 1,700 apartments. They will be submitting the development plans for the first 400 apartments and retail development early next year.

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Now OCP is looking to expand beyond the Tupperware/Osceola Corporate Campus property. The developer is under contract for two parcels on the east side of Orange Blossom Trail, just south of Osceola Parkway. The J.D. Holloway Trust is owner of both properties, the larger of which is a 16.85-acre site directly across from Victory Charter School.

The heavily wooded site currently has Commercial Restricted zoning, but O’Connor has applied for Employment Center zoning, which allows up to 40 residential units per acre for a maximum of 674 units.

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O’Connor is also seeking to rezone 2.55 acres at the southeast corner of Orange Blossom Trail and Barn Street from Commercial Restricted to Commercial General. The lot is directly across from an 11-acre site O’Connor has under contract from Tupperware.

Both rezoning applications were filed by Harris Civil Engineering, which has a longstanding relationship with OCP.

Conceptual plans for the Tupperware SunRail project include up to 1,700 multifamily residential units, 180,000 square feet of retail, a 120-room hotel and 60,000 square feet of office space. The shops and offices will front on Orange Boulevard, while the hotel would face Osceola Parkway, according to the conceptual plan.

The Transit Oriented Development will be the third major joint venture between O’Connor and Tupperware. The two companies previously joined forces to develop The Crosslands and Cinqe Terre shopping centers at Osceola Parkway and Orange Blossom Trail. They sold both centers in 2016 for a combined $121 million.

O’Connor Capital has also completed the first two phases of Vineland Pointe, a Target-anchored shopping center on Daryl Carter Parkway in Orange County.

Headquartered in New York, O’Conner Capital has developed three multifamily projects in and around New York City. The Kissimmee ventures will be the firm’s first residential development in Florida.

The SunRail station and Orlando Health Tupperware campus have been a magnet for new apartment development. Fore Property Company bought 21 acres south of Osceola Parkway for a 384-unit community dubbed Parkway Crossings. Just north of the Orlando Health property, Eastwind Development is building Phase 2 of its 352-unit San Mateo Crossings.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407)420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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