Charlotte-based apartment community owner/operator Northwood Ravin and its Tampa-based development partner expect to apply for building permits in early 2016 for the company's first luxury complex in Orlando, just outside Vineland Premium Outlets.
But they can't do that until they get a nearby parcel owner's permission to use all of the remaining residential entitlements in the VOA-Nerbonne Planned Development (PD). How easy -- or costly -- it will be to get that permission is yet to be seen.
The issue is rooted in dated land-use limitations and acreage calculations that are paralyzing the parcel, which falls under an Activity Center Mixed Use (ACMU) designation on the PD.
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, as GrowthSpotter reported on Aug. 11. Tampa-based developer and builder Framework Group represented Northwood Ravin on its entry to the Tampa market last year, and is steering this new development, the company's first in Orlando.
The original VOA-Nerbonne PD was approved in January 1998 and covers a total of 42.65 acres. Its existing development entitlements include 25,600 square feet of commercial uses, 1,382 hotel rooms (including 360 rooms used for timeshare purposes), and 309 multi-family residential units.
The PD has an underlying Future Land Use Map (FLUM) designation of ACMU, which limits residential land use to 30 percent of the area, according to Orange County planning staff. That restricts how much Framework Group is allowed to build on Northwood Ravin's 13.72 acres, which is Tract 4 within the PD.
Framework Group got approval Wednesday from the county's Development Review Committee to amend the VOA-Nerbonne PD/LUP by removing the ACMU acreage calculations.
They'll now defer back to the maximum residential acreage calculations described in the county's Comprehensive Plan Policy ID 1.1.7, which requires a minimum residential density of 12 dwelling units per acre (du/ac) and a maximum of 30 du/ac.
Northwood Ravin's Tract 4 within the PD is approved by planning staff for the maximum 309 multi-family residential units allowed, but the amount of land they can build on is 10.33 acres, which comes from the 30 percent restriction being applied to the 34.44 acres of ACMU land across Tracts 1, 2 and 4 located north of International Drive. Those three tracts are contiguous and undeveloped.
That is about one acre shy of what the developer needs for the project, said Phillip A. Smith, president of Framework Group.
Framework must now get permission to incorporate the acreage of Tract 3 and absorb its right to 30 percent residential, which lies south of International Drive but within the PD. It's a wooded acre owned for the past 20 years by Michael Goodman of Altamonte Springs.
Goodman could give this authorization, but would lose the right to build residential on his 7.3-acre parcel. Goodman did not return a call for comment Wednesday.
If the authorization from Tract 3 owner Goodman is acquired, Framework Group should pursue building permits in First Quarter 2016, Smith said. JDavis Architects out of Raleigh is the project's architect, while Northwood Ravin's NWR Construction will be the general contractor.