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.
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.
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.