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Elevation Development has filed preliminary plans for a 13-acre shopping center at the NE corner of U.S. 27 and Sand Mine Road.
Elevation Development has filed preliminary plans for a 13-acre shopping center at the NE corner of U.S. 27 and Sand Mine Road. (Polk County)

Elevation Development is looking to bring more hotels, restaurants and shopping options to Polk County's hot Four Corners market.

The Orlando-based developer filed preliminary plans for two projects in Polk -- one in Davenport and the other on Osceola-Polk Line Road (C.R.532) just outside of ChampionsGate.

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Consultant/Planner Nick Boehme told GrowthSpotter that Elevation has both parcels under contract.

The larger of the two is the 45-acre Blackwater parcel at the southeast quadrant of the ChampionsGate-Interstate 4 interchange. The site is owned by MF Blackwater Holdings llc, a holding company for Charlotte, North Carolina-based Mountain Real Estate Capital, which bought it in 2008 for $8.7 million. The same firm owns the 0.7-acre parcel in Osceola County that provides access to the road.

Elevation Development is planning a mixed-use project right across the interchange from ChampionsGate. The preliminary site plan calls for two hotel pads, several restaurants, a gas station-convenience store, townhomes and retail uses.
Elevation Development is planning a mixed-use project right across the interchange from ChampionsGate. The preliminary site plan calls for two hotel pads, several restaurants, a gas station-convenience store, townhomes and retail uses. (Polk County)

A site plan prepared by Kimley-Horn calls for two hotel pads for separate 20,000-square-foot hotels, 62 townhomes and more than 80,000 square feet of retail space. That space would include several outparcels suitable for restaurants or professional offices, a gas station-convenience store and a 30,000-square-foot grocery store.

The site is adjacent to Legacy Callawalk, a proposed class-A apartment complex approved for 648 units. North Carolina-based Goldberg Residential has started building phase one, which includes 318 units.

That project also maintains three parcels, totaling 16.3 acres, fronting on C.R. 532 for commercial development.

Elevation's second project is in Davenport at the northeast corner of U.S. 27 and Sand Mine Road, on a vacant 13-acre parcel owned by Walgreen Co. It's directly across from a Publix-anchored shopping center, Berry Town Center.

Learn which national retailers have signed leases for the two projects, and who is banking the project.

CVS and Dollar General are at the southeast quadrant of the intersection. Sand Lake Road eventually will be extended into Osceola County and will connect with Westside Boulevard, providing a vital east-west route for the region.

A concept plan developed by Avid Group shows a retail center anchored by a 45,000-square-foot supermarket with 10,000 square feet of attached retail. The plan also shows three outparcels designed to accommodate fast-food restaurants with drive-thrus and another 10,000 square feet of retail or office uses.

Learn what the investor has planned for nearly 7 acres on Osceola Polk Line Road.

Elevation recently closed a deal in Sanford, buying a vacant site from Walgreen Co. and will build an AutoZone and CareNow health clinic.

Boehme said the Davenport site is similarly situated, "except that it's a bigger site."

Four Corners' post-recession boom is bringing new hotels, housing, retail, schools and thousands of vacation homes.

He said the retail center would bring together "a collection of national brands, and it's still not completely set in stone that it would be grocery."

Elevation has an alternative plan that includes a multifamily component, he said.

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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