A Tampa-based developer specializing in Build-to-Rent communities has a purchase contract on 20 acres in Osceola’s tourism corridor that had been slated for townhomes.
Moriah Kosch, director of development for Third Lake Development, told county planning officials they are redesigning the project on Westside Boulevard at Student Drive, just south of Mattamy Homes’ Solara Resort.
The property had sold less than a year ago with approved plans for a gated resort community with 142 townhomes and 11 vacation homes. But Kosch said the new plan is to build 173 single-family rental homes consisting of one-bedroom duplexes and detached two- and three-bedroom homes.
She was joined in the pre-application meeting by Robert Hogan, senior managing director for single-family development at Third Lake, and their attorney, Rebecca Wilson from Lowndes. Civil engineer Dave Schmitt, who had worked with the seller to secure an approved Site Development Plan and environmental permits, also participated.
Kosch, an architect, joined Third Lake in January after eight years with Altamonte Springs multifamily developer ContraVest. Hogan joined the company a year ago after leading the BTR division of R2 Development, where he oversaw the acquisition, entitlement and vertical construction of communities in Charlotte, Raleigh, Atlanta and Nashville.
“We’re excited about the project, and we think it’s a great fit for the area,” Hogan said. “We’re ready to move forward.”
If approved, it would be the second horizontal apartment-style BTR community in Osceola County following the recent deal with Landmark Properties on Narcoossee Road.
DRC Chairman Jose Gomez confirmed that Mattamy Homes has already commenced construction on the Westside Boulevard extension that will serve the property, as well as its Soleil residential community across the street. Mattamy is also extending water and sewer lines to the property, he said.
The new roadway segment will connect to portions in ChampionsGate being built by Lennar Homes, completing the boulevard all the way from Bella Citta to U.S. 192.
If Third Lake closed on the townhouse site, it would be responsible for making improvements to Student Drive, which separates the community from Solara and serves as a secondary access point to the community. Gomez said the road would also need to be extended further east than originally called for so it can connect to Lima Avenue in the Windsor at Westside community.
Third Lake could also be eyeing the neighboring 52-acre parcel owned by Central Florida Investments, the parent company of timeshare giant Westgate Resorts. Founder David Siegel bought the parcel at a tax deed auction in 1990 for $10,501.