A Canada-based owner of 11 acres in the tourism corridor wants to expand the conversion options within his land's zoning, offering the flexibility to turn roughly a third of his hotel room entitlements into up to 400 multifamily units.
Located at 8175 Palm Parkway, the 11.13-acre undeveloped property is surrounded by limited service hotels and land planned for new hotel construction in the coming year, and lies one mile from the Hotel Plaza Boulevard entry to Disney World.
The site's owner is an affiliate LLC of Elie Chater, a civil engineer from Nova Scotia, Canada. He declined to comment when reached by phone Thursday morning.
Chater filed a Change Determination Request on Wednesday with Orange County, seeking to add up to 400 multifamily units to the Vista Centre PD.
That PD has 1,320 hotel room entitlements across two lots, 395 of which have already been used by three hotels to the east on Lot 6. Chater's 11.13 acres are the last remaining undeveloped site within the zoning boundary.
Chater's request would add apartments and commercial use to the PD's conversion matrix, along with its original options of hotel or timeshare units.
Apartment use would be restricted to a third of the 11.13 acres and no more than 400 multifamily units, a conversion that would absorb roughly 488 of the entitled hotel rooms. No additional entitlements are being sought for the PD.
That would leave more than 7.5 acres of Chater land available for future hotel or commercial development and 437 entitled hotel rooms remaining, if a multifamily project is carried out on a third of the site.
The property lies directly south of a five-parcel assemblage totaling 6.44 acres that Kissimmee-based Carter Hospitality Group paid $3.5 million for in December 2015, with early plans for a 700-key hotel on the property, GrowthSpotterreported in January.
And directly northeast of Chater's property are 4.865 acres where Olando- and Louisiana-based developers earned county approval earlier this year to build common wall, dual-branded Marriott select service hotels.