An affiliate of Aventura-based Master Real Estate filed plans this week for the 180-unit multifamily phase of a mixed-use development it's planning on roughly 10 acres northeast of the Florida Mall.
Located between Winegard Road and Voltaire Drive, north of the 700 block of E. Sand Lake Road, affiliate Sandlake Partners LLC paid $4 million in October 2016 for 10.4 acres across five parcels, roughly 2 acres of which is a retention pond.
Preparation for mixed uses began last year with requests for a Comprehensive Plan amendment and Land Use Plan, both of which were approved by Orange County commissioners in June.
A 2.34-acre parcel on the corner of Winegard that fronts Sand Lake Road is planned first for a two-story commercial building, with 20,000 square feet of retail and second-floor office space. A grading and site work construction permit is currently under review by the county.
The multifamily project now in question would cover the remaining 8.06 acres of the site. The group filed a Development Plan for the project on Wednesday with Orange County.
Three buildings of four stories each are planned, to be split into phases of 120 units and 60 units, said B. Todd Hudson, president of Hudson Engineering Associates and civil engineer on the project.
Whether those units are developed as apartments or condominiums has not been determined, Hudson said. Executives with Master Real Estate and its development affiliate, Mir Developments, did not respond to requests for comment on Thursday.
In late May, the developer reached a school mitigation agreement for capacity enhancement with Orange County Public Schools for the impact of 180 new multifamily units, with school impact fees to total more than $1.065 million and capital contribution by the developer of more than $75,000 to cover additional costs to the school district.
Focused mainly on the sale and development of condos in Greater Miami, this would be the fourth project in Orlando for the investors from Master Real Estate. The first three projects are all clustered around the intersection of S. Orange Avenue and McCoy Road.
The developer has been working with county planners on revising its mixed-use plan for 18 acres at 7803 S. Orange Ave., within walking distance of the Sand Lake Road SunRail station, after filing a DP in early March for 196 condo units across three buildings, 41 two-story townhomes and a two-story commercial building with 36,000 square feet.
That project lies along a 3.8-mile stretch of S. Orange Avenue in the Pine Castle District that is now the focus of a form-based code study by county planners, to try and drive dense, mixed-use redevelopment around that SunRail station.
Mir Developments also started vertical construction early this year on the 120-unit Royal Palace condo complex on 5 acres at 2121 McCoy Road.