A sprawling land assemblage in Horizon West may soon be up for grabs.
Jose Cantero, manager of the family-owned investment vehicle Cantero Holdings LLC, is working to entitle about 116 acres of vacant land along Avalon Road and just south of Lake Star Road.
Plans call for more than 380 residential units and up to 28,000 square feet of commercial space, according to a recently submitted Land Use Plan in Orange County.
Cantero told GrowthSpotter the site has been under the ownership of the family since the 1980s. With a close eye on the market, Cantero said the owning entity was waiting for the right time to sell off their holdings in the sector — and that time is now.
“There’s a good path of growth headed this direction,” Cantero said. “This village [Village I in Horizon West] has had increased activity in recent months, and we feel the timing is appropriate to begin the entitlement process.”
He said he envisions a mix of single-family homes and townhomes rising up on the land. The LUP application specifies that the property owners want to rezone the property from A-1 to PD in order to construct up to 388 dwelling units and 28,000 square feet of office space.
“There’s always the possibility we can do apartments if the county allows apartment uses,” Cantero added.
The site sits parallel to Disney’s 450-acre Flamingo Crossings master-planned community, which is set for about 1,300 multifamily units for its college intern program, 5,000 hotel and timeshare units and more than 350,000 square feet of retail space.
At least seven new hotels are in the works at Flamingo Crossings. The project was announced in 2007, but was briefly put on hold during the economic recession.
Also helping lure development in the area is the expansion of the Western Way and Harzog Road thoroughfares.
Western Way, which runs through Flamingo Crossings, is being constructed as a new four-lane roadway that will extend roughly 1.6 miles west to Avalon Road. The road famously serves as a connection to the western entrance of Walt Disney World Resort.
Cantero is working with Burkett Engineering on the project. The licensed real estate broker often operates under the company, Citrus Ridge Real Estate LLC.
In Apopka, Cantero Holdings is working on a similar project that spans about 92 acres. The land fronts Golden Gem Road and was purchased by the family-owned entity in 2005 for roughly $1.7 million. Cantero said the company is in the midst submitting a zoning application to allow for residential use on the property.
Similar to the land it owns in Horizon West, the Apopka site can stand to benefit off new roadway construction. In this case, the new interchange at Kelly Park Road, one of four interchanges that opened in 2018 as part of the $1.6 billion, 25-mile Wekiva Parkway project.
The concurrence, Cantero said, was mostly luck and a bit of doing “the best with what you know.”