Altamonte Springs-based LeCesse Development Corp. paid $5.625 million last week for its portion of a three-way joint venture in Orlando's SoDo district, and should break ground there within days on the Phase 1 apartments at "Lucky's Corner."
The merchant builder partnered in 2016 with local developers Blurock Commercial and Intram Investments to build and manage the multifamily portion of their $75 million mixed-use redevelopment project, which covers 11.75 acres on the southeast corner of S. Orange Avenue and E. Pineloch Street.
Intram-Blurock is in the midst of horizontal construction now for infrastructure and site improvements, and should break ground on its first few retail buildings within 90 days, said Randy Hodge, executive vice president with Intram Investments.
Signed retail tenants include Lucky's Market, Starbucks, Global Mattress, Pacific Dental, Twistee Treat and Jersey Mike's Subs.
The S. Orange-Pineloch intersection boasts an Annual Average Daily Traffic (AADT) count of 36,453, as of 2016 figures from Orange County and the Florida Department of Transportation.
The location is one of six that Lucky's Market has in varied stages of development in Greater Orlando.