IBI Group's Maitland office is in the initial stages of preparing a wetland-heavy parcel five miles north of Orlando International Airport for up to 150 townhouses and is talking with a handful of builders experienced in the segment, a lead executive with the company told GrowthSpotter.
Located at 4190 S. Goldenrod Road, just north of the intersection with Narcoossee Road, the 40-acre parcel is currently zoned residential and has about 14 developable acres with the rest designated as wetlands.
Developing on behalf of the property's family ownership, IBI Group met with Orange County planning staff Wednesday to discuss initial plans for the parcel, and the need to establish a wetland impact permit first with its Land-Use Plan through the Board of County Commissioners, for conservation area changes.
"We were initially considering a small piece of commercial development there with about 138 townhouses, but we now realize with staff's input that the development's viability is so dependant on the wetlands, and that commercial would require a Comprehensive Plan amendment, that we'll now likely focus on 150 townhouses," said Richard C. Wohlfarth, chief operating officer of IBI Group's Maitland office, which is serving as developer, engineer and surveyor on the project.
"Development potential on the east side of the county is limited for this sized parcel, because of the extensive wetlands in this area," he continued. "We hope to get this lined up in the coming months, and I'm talking to a handful of builders with experience in townhouses."
Wohlfarth said the property has a completed CAD (Conservation Area Determination) that is a few years expired and will work with his survey team to update it within the next week. That defines the upland area on the property that can be developed, and must be approved by county staff. He envisions about 20 of the 40 acres eventually being left as wetlands.
Editor's Note: This story's final paragraph was updated the morning of Oct. 15 to correct the definition of CAD.