Washington D.C.-based Kettler eyes Florida market entry in Celebration

A Washington, D.C.-area developer that specializes in multifamily mixed-use projects is eyeing its Florida market entry via Celebration.

Kettler has filed a conceptual plan for an 18.4-acre commercial parcel on Celebration Boulevard, right next to Adventist Health Sytem's new $20 million skilled nursing and rehab center, which is under construction.

The lot is owned by The Celebration Company, a Disney subsidiary, and is under contract to Kettler. 

(UPDATE: Kettler purchased the property on May 26 for $11.16 million.)

Torti Gallas + Partners, which is also working in Lake Nona, developed the site plan that combines 368 multifamily units with a 134-key hotel and 100 senior housing units.

The plan doesn't specify if the multifamily units would be rental or condominiums -- Kettler has experience with both. The unit breakdown is 112 one-bedroom units, 24 one-bedroom plus den, 200 two-bedrooms and 32 three-bedrooms.

Officials in the Orlando Atkins office have requested a pre-application meeting with Osceola County's planning staff for June 7.

Kettler officials could not be reached for comment on Tuesday.

The project is on a stretch of Celebration Boulevard that's seen significant development and sales activity in the last year. Next to the AHS project is Big Rock Partners' $82 million Windsor at Celebration community.

Windsor, the first age-restricted community in Celebration, begins pre-leasing on June 1. On schedule to open in Spring 2018, it combines 151 resort-style independent apartment units with 55 assisted living units and 33 memory care units.

Earlier this month Celebration Office Center, which lies immediately north of the Kettler site, was acquired by Salt Lake City-based Bridge Investment GroupThe Class A office buildings were part of a four-building portfolio in Celebration that sold for $30.25 million.

On Tuesday, Bridge CEO Jeff Shaw told GrowthSpotter the group was impressed with the low vacancy rate and "live, work, play" amenities in the master-planned community. A mixed-use project like the one outlined in the Kettler plan would "boost an already great amenity base in Celebration."

GrowthSpotter first reported in late April that Florida Hospital Celebration Health is adding an $80 million patient tower projected to open in 2019.

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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