A pair of local real estate investors have plans to expand the luxury residential boom in Orlando's SODO district by converting an auto body shop into a high-end townhouse community.
Venue Investments partners Amit Ghosh and Shibin Wang own a real estate portfolio that primarily consists of single-family rental properties spread across Orange County. In January, a Venue Investments affiliate bought the Car Crafters body shop at 28 W. Jersey St. for $725,000.
They are seeking approval from the city's Municipal Planning Board to change the current industrial zoning and future land use to Urban Activity Center, which allows for up to 100 residential units per acre. A public hearing is scheduled for the Oct. 16 MPB meeting.
The duo currently owns The Jupiter School, directly across the street, and the townhouse development would include some overflow parking for the daycare center.
CivilCorp Engineering filed a Master Plan in August calling for 17 3-story townhomes, each with a rear-entry 2-car garage. Their goal is to "start a residential revolution" in what has traditionally been an industrial area, near the intersection of S. Orange Avenue and E. Michigan Street.
Architect Jeff Gaither from Studio 407 would incorporate a mix of materials to provide variations of texture and color among the units. The townhomes would include designer touches, such as arched, glass front doors and front balconies to give the community an upscale feel.
The location is just a block south of Lofts at SODO, a 300-unit apartment complex built in 2008 by Wood Partners and sold this year for $66.5 million.
Tampa-based Icon Residential is now building and selling Phase 3 of its SODO Place, an award-winning luxury townhouse community at 67 W. Grant St.