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Gardens on Millenia prepping for apartment construction

Gardens on Millenia prepping for apartment construction
The Addison on Millenia will be a focal point of the $100 million mixed-use development planned where Millenia Boulevard borders Interstate 4.

The developer behind the multi-family portion of the Gardens on Millenia project is throwing the endeavor into high gear, putting out bid proposals for builders and craftsmen of all types to create 292 apartments that will be a focal point of the $100 million mixed-use development.

BBX Capital of Ft. Lauderdale has been the developer of the residential part of the project and owns the property, but has brought on ContraVest Construction to build the multi-family development, dubbed The Addison on Millenia. BBX will likely sell the 11.5 acres of planned apartment property to ContraVest, based on ContraVest's track record with former developments.

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Bruce J. Parker, managing director of BBX Capital, said, "Anything is possible, but we currently have no plans" to sell the apartment portion of the property.

In bid documents made available this week, the project was seeking, among others, drywall, painting and framing professionals.

The date to have bids in is Oct. 9.

"I'm pleased with the progress," said Parker. "We're a little ahead of schedule as far as overall site development."

The retail component is expected to begin construction later this year and the apartments are expected in January.

The residential area will be part of an 87-acre parcel of which 30 acres are Lake Amanda. The retail component will include 330,000 square feet of space.

The first phase of the project, which is bordered by Millenia Boulevard and Interstate 4, includes a 148,000-square-foot multi-tenant retail center, along with a roughly 150,000-square-foot big box wholesaler, which has been confirmed as Costco Wholesale.

"Costco will probably be the first out of the ground on the retail side," Parker said.

Parker added the retail offerings at the Gardens on Millenia will complement those already in the area.

The development will be within walking distance of the Mall at Millenia and near a Target and Home Depot-anchored shopping center.

Have a tip about Central Florida development? Contact me at ktalley@growthspotter.com or (407) 420-5176. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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