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Mixed-use Tyson Ranch project draws in luxury apartment developer Bainbridge

Maitland-based developer Ralph Singleton is gaining steam with his proposed 75-acre mixed-use community south of Orlando International Airport.

The developer is signing on luxury multifamily real estate firm Bainbridge Companies to develop a 324-unit apartment complex within its proposed Tyson Ranch PD/Land Use Plan subdivision.

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In addition to the apartments, the mixed-use project is poised to bring 330 townhomes, 250 hotel rooms and more than 187,000 square feet of commercial, storage and office space about a mile south of the airport's boundary.

According to a Technical Review Group application filed in Orange County late last week, Bainbridge is seeking to develop an apartment complex consisting of 11, three-story buildings and a clubhouse.

A development plan shows the complex would feature a mix of one- two- and three-bedroom apartments. Amenities include a pool and public open space.

The project would rise on 13.65 acres, abutting the commercial portion of the Tyson Ranch PD/Land Use Plan, which features 50,000 square feet of commercial and 100,000 square feet of office space fronting Boggy Creek Road.

The two-parcel site at 14700 and 14730 Boggy Creek Rd. has been pasture land for more than 100 years. It lies just south of intersections with S.R. 417, Boggy Creek Road and Lake Nona Boulevard.

Singleton Development paid $5.15 million for the property in 2012.

The developer filed an LUP with the county in 2015 after tracking commercial and residential development that has grown north of the airport along S. Semoran Boulevard.

At the time Singleton wanted entitlements that would allow for 750 apartments, 250 hotel rooms and 1.195 million square feet of commercial, office and airport/medical uses.

The project has since been tweaked to support new incoming infrastructure and to complement surrounding projects.

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The first step was bringing water and sewer services to the property. Next is aligning the timeline for construction with the widening of Boggy Creek Road.

The thoroughfare is being widened from two lanes to four lanes from the Orange County/Osceola County line near Simpson Road all the way north to SR 417.

Singleton's Tyson Ranch PD/Land Use Plan goes before the Board of County Commissioners April 9. At a previous meeting, the application was continued to run concurrently with the Boggy Creek Road agenda item.

Singleton's mixed-use project follows a widespread drive to bring more aspects of suburban and urban living to the outskirts of the master-planned Lake Nona community.

Other developers following suit include investor Abdulrahman Al Helayel, who is planning a similar mixed-use project, east of Lake Nona, on Lake Whippoorwill. He also has applied for annexation into the City of Orlando.

Al Helayel's Village Center District project is approved for 90,000 square feet of retail and commercial space, 30,000 square feet of office space and a 354-unit multifamily community, which is also being developed by Bainbridge.

The Wellington-based real estate firm completed Bainbridge At Nona Place, a 288-unit multifamily complex at 12855 Sunstone Ave. last year, following the completion of its Solaya apartment complex in Orlando's International Drive corridor.

The firm manages and owns apartments in Maryland, Virginia, North Carolina, New York and Washington, D.C.

According to RealPage, Inc. 8,174 multifamily units are under construction in the Orlando-Kissimmee-Sanford market. Apartment rents are also on the rise, boasting a 3.7 percent increase year over year.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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