The real estate companies are under contract to buy and develop a portion of the property, according to master developer Richard Wohlfarth of Wohlfarth Consulting Group.
His project, east of the intersection of Fullers Cross Road and North Lakewood Avenue, straddles both sides of Clarcona Ocoee Road on land that has remained vacant for years.
Now, the massive mixed-use development is entering the final stages of the city approval process, Wohlfarth told GrowthSpotter.
“We’re up for final reviews with the planning board next month, and then the city council in early March,” Wohlfarth said." If all goes smoothly, construction should begin in April, he adds.
Park Square Homes is under contract to purchase about 30 acres of land at 10711 N. Lakewood Ave., where it’s planning to develop 232 townhomes. Prices for the townhomes are anticipated to begin in the low $200,000′s, Wohlfarth said.
Cleveland-based multifamily real estate company NRP Group is developing a 320-unit apartment community on about 15 acres of land on the northernmost point of Ocoee Village Center.
Wohlfarth said the developer is planning an luxury multifamily complex with an upscale clubhouse, pool and fitness room. In 2016, NRP completed its first development in Central Florida, the 196-unit Lake Vue apartment complex off of Turkey Lake Road with frontage on Big Sand Lake.
Its project in Ocoee would be its second multifamily community in Central Florida.
Deerfield Beach-based developer and property manager Konover South is tackling the commercial portion of the mixed-use development that will rise on about 21 acres between the apartments and townhomes on all four corners of where Clarcona Ocoee Road will intersect with the future North Lakewood Avenue extension.
Konover South will develop roughly 150,000 square feet of commercial space that will include a large grocery store, retail and restaurant space and a hotel with up to 140 rooms.
Bob Bedard, senior vice-president of development, said the company has entered into contracts with tenants that plan to open a 7-Eleven gas station and the early education center, The Learning Experience. He adds Konover South is in talks with a national coffee retailer, too.
Bedard said they plan to begin constructing the southeastern quadrant early this summer. Plans for that corner include the 7-11 gas station, 14,000 square feet of retail space and a quick service restaurant with a drive-thru.
Konover South’s Zachary Feldman is handling leasing efforts.
Once complete, Ocoee Village Center will also feature a 2.4-acre public park and linear park.