Plans for a proposed 200-unit multifamily community near Valencia College East Campus are seemingly getting bigger.
Recently filed plans in Orange County show a subsidiary of Washington, D.C.-based Republic Family of Companies is looking to amend the Land Use Plan for about 24 acres of property, next to where it’s already planning a new apartment community at 8669 Valencia College Lane.
Republic ATS LLC is seeking entitlements to allow for a 440-unit multifamily residential development on the remaining 24 acres within in the Asbury Theological Seminary Land Use Plan.
If all is approved, Republic’s subsidiary Republic Properties Corporation would control about 32 acres of land northwest of where Valencia College Lane and S.R. 417 intersect. Entitlements will allow for up to 640 apartments.
Kimley-Horn and Associates is the civil engineer and landscape architect on both projects.
Evangelical graduate institution, Asbury Theological Seminary, currently owns most of the property.
About 7.8 acres of the 32 acres is owned by AC Five LLC, which acts as a holding company for the family members of the late Robert E. Langford.
The hotelier, Langford, is credited for bringing Central Florida’s first air-conditioned hotel in the 1950s.
The Langford Hotel in Winter Park opened in 1956 at New England and Interlachen avenues. In its heyday, it hosted guests like Ronald and Nancy Reagan, who famously celebrated their 25th anniversary at the hotel three years before he was elected President. After years of operation the hotel closed in 2000 and was torn down in 2003.
Recently completed apartment communities next to college campuses in the area have been collecting big sale prices.
In October, Rance King Properties, paid $66 million for the 296-unit Coda Apartments near the University of Central Florida. The apartment community was built last year by developer and seller Catalyst Development Partners. And Horizon Realty Advisors paid $65 million to purchase of the Glenn apartments by UCF in January 2019.
Last year, West Palm Beach-based Priderock Capital Partners paid $63.25 million for a 356-unit apartment nearby. The project sits about five minutes north of Valencia College East Campus along North Econlockhatchee Trail.