Orlando-based developer Khaled Hussein is resurrecting a shelved real estate deal in the small city of Edgewood with the prospect of signing on a homebuilder to partner with.
Plans call for the construction of about 45 single-family homes on 14.5 acres of land just north of Holden Avenue, on the eastern side of S. Orange Blossom Trail.
“It would be the city’s first new residential community in 20 years,” Hussein said.
It’s one of the last developable plots of land geared for residential construction in the tiny city, whose population in 2017 was pegged at 2,930, according to the United States Census Bureau.
Over the last four years, Hussein has tried to launch at least two separate developments on the site.
In 2016, the developer was under contract with homebuilder, DR Horton, to sell about 10 acres of land at 1130 and 1110 Holden Ave., with entitlements to build up to 40 single-family homes.
The contract fell through for development reasons, Hussein said.
Shortly after he was approached by Orange County Public Schools to negotiate selling the land for a new elementary school, but that deal also fell through due to a slew of concerns from neighbors worried the school would serve an overflow of students outside of the community.
The deal was dropped in December, after more than a year of planning with OCPS, Hussein said.
In 2017, he paid more than $306,000 for an additional 3.28 acres on the top eastern portion of the property. The deal brings his total spent in the area to about $1.26 million.
He said he’s accumulated about 14.5 acres of land is now returning to the original plan for a residential community on the property.
Hussein, of Cedar Engineering Consultants, said he intends to assign a homebuilder soon, and has begun crafting a Planned Development zoning application to allow for about 45 single-family home lots on the site.
He said he's in talks with several national homebuilders looking to collaborate on the development, including KB Homes.
Rick Baldocchi of AVCON Inc. is the civil engineer.
Last year, Orlando-based developer Intram Investments paid $6.5 million for the 57-year-old Fort Gatlin Shopping Center, nearby. The deal expanded the developer's holding to roughly 10 acres for potential future redevelopment.