Orlando-based MMI Development is closing in on land next to Eatonville’s Lake Weston, where the developer is proposing to build an $80 million multifamily community.
Earlier this week Eatonville’s Planning and Zoning Board approved plans to rezone the property at 2454 W. Kennedy Blvd. to allow for a rental complex with up to 437 apartments.
Currently the roughly 50-acre site is owned by Ken Clayton and members his family. Records show the property south of West Kennedy Boulevard and east of Forrest City Road has been in the family’s possession for almost four decades.
MMI president Mike Wright told GrowthSpotter he’ll be working in conjunction with real estate investment company Federal Capital Partners out of Maryland to develop the project.
The project, dubbed Affinity at Lake Weston, will feature seven, elevator-serviced buildings including a clubhouse with a swimming pool overlooking the lake. Each residential building will have interior corridors and a private lobby with controlled access. The community will be constructed in a single phase.
Wright said the development will be a tobacco-free apartment complex that will include electric vehicle charging stations and a clubhouse built with cross-laminated timber.
The design style consists of layers of lumber stacked perpendicular to each other and glued to form structural panels. The method is often left exposed in interiors. Fifty West Realty LLC used the same method for its flagship office in Clermont.
Proposed amenities at Affinity at Lake Weston includes a dock with gazebo, playground and dog park and grooming salon.
Wright said hopes to break ground this fall.
The site is close to where Chuck Whittall of Unicorp National Developments has been vocal about wanting to redevelop roughly 100 acres of land into a mixed-use development with a grocery store and residential components like single-family homes and/or apartments.
MMI is currently building a nearly identical, but smaller, apartment complex in the Tampa area. In Central Florida, the company has active projects in Apopka and downtown Orlando.