More than five months after learning they'd need permission from a neighboring land owner to build 309 apartments just east of Vineland Premium Outlets, Charlotte-based owner/operator Northwood Ravin and its local partner appear to have the green light, progressing to Development Plan review with Orange County staff this week.
The 13.72-acre parcel, located at 7510 Lake St. on the southeast corner with Daryl Carter Parkway, was bought by a Northwood Ravin affiliate for $7.6 million in mid-August, GrowthSpotter previously reported. Tampa-based developer and builder Framework Group represented Northwood Ravin on its entry to the Tampa market last year, and is steering the company's first development in Orlando.
The DP includes a planned 309 multi-family units, clubhouse, pool and other amenities.
In early October, Framework Group earned Orange County approval to amend the VOA-Nerbonne PD/LUP that zones the property, to remove Activity Center Mixed Use (ACMU) acreage calcuations that were paralyzing the parcel from apartment use.
Despite that progress, Framework and Northwood Ravin still wouldn't be able to build the apartments until they got a nearby parcel owner's permission to use all of the remaining residential entitlements in the VOA-Nerbonne PD. How much it cost them to acquire that permission is unknown.
The PD has an underlying Future Land Use Map (FLUM) designation of ACMU, which limits residential land use to 30 percent of the area.
Northwood Ravin's Tract 4 within the PD was approved for the maximum 309 multi-family residential units allowed. But the amount of land they could build on is only 10.33 acres, which comes from the 30 percent restriction being applied to the 34.44 acres across Tracts 1, 2 and 4 that are contiguous within the PD.
That was about one acre shy of what the developer needs for the apartments.
Framework had to get permission to incorporate the acreage of Tract 3, which lies south of International Drive but within the PD boundary, and absorb its right to 30 percent of the residential area. It's a wooded acre owned for the past 20 years by Michael Goodman of Altamonte Springs.
The permission process may have taken longer than expected. In October, Framework Group president Phillip A. Smith said building permits could be pursued by March of this year.
Smith and Goodman did not return calls for comment on Friday.