Newly formed SunPark Company expects to break ground in 2016 on a 326-unit Class A apartment complex on U.S. 27 in Polk County, next to ChampionsGate.
Rao told GrowthSpotter the project, Champions Vue, will be the first phase of a 38-acre town center development known as Champions Plaza. The second phase of the project will consist of a retail plaza anchored by a 45,000-square-foot grocery store. The plaza will have leasable space for shops and restaurants, as well as six outparcels and a 120-unit hotel pad.
"All the permits are in place. The apartment project is shovel-ready," Rao said.
It's just over county line from the Integra Meadows apartment complex, which sold in late September for $41 million. Construction on the retail plaza should start within 12 months.
Champions Plaza is Sunpark's first project, but the company has several others in development in the Orlando area, including an assisted living facility in the Lake Underhill area and a hotel near Orlando International Airport.
"We are seeking equity and capital partners and (joint venture) partners on future projects," Rao said. Interested funding partners and land owners can contact him by phone or email.