Multifamily developer The Bainbridge Companies should file construction plans this month for a 300-unit apartment project along Maitland's Lake Shadow on 48 acres it has owned since 2005, and will build a new public park to help earn approval.
The builder, owner and operator first held a pre-app meeting with Maitland planning staff in June 2016 to discuss reintroducing a Development Plan for the site, which was previously approved for condominiums in 2007.
Located primarily at 2270 Shadow Lane in Maitland, the property features shoreline on Lake Shadow in the southwest city limits.
Bainbridge filed construction plans last week with the St. Johns River Water Management District for a surface water management system to serve a 48.04-acre apartment development, and a 5.5-acre park.
The 300 Class-A apartments would be spread across 11 four-story, garden-style buildings, and occupy about 20 acres of net developable area with one side of each to feature lake frontage. Amenities include a dog park, clubhouse and private swimming pool area.
Final site plans were filed with the city in November and remain under review, and construction plans are expected to be filed with the city this month, development manager Burk Hedrick told GrowthSpotter.
The project was actually permitted by the city for Bainbridge back in 2004 with a fully approved Developers Agreement, and an affiliate paid $2.32 million in January 2005 for the land. But the plans were put on hold before and during the economic recession, and Bainbridge's permits expired.
The new 5.5-acre park, to be built on city property north of the apartments site, was part of the original Developers Agreement to satisfy concerns of single-family neighborhoods around the property.
By shouldering the cost to build the public park, Bainbridge should also be approved to extend the public Fennell Street and connect it to a new road planned for its apartment site.
Four months or more are estimated for building permit approvals with the city, forecasting a Second Quarter 2018 window for horizontal site work and grading to start on the apartments and park sites concurrently, Hedrick said.
He declined to estimate total project cost for the apartments or public park. A typical construction timeline for garden-style apartments of 16 months after groundbreaking is expected.
"We're ready to move in to Maitland, with all that growth happening on Maitland Boulevard and the local apartment market in general," he said. "We started this process with the city two and a half years ago, so we've wanted to pursue this for that long."
The new Fennell Street Park is planned to include a paved sidewalk around an existing public pond, viewing platform areas and a fenced-in playground.