Dallas-based Encore Enterprises will wrap construction on its Park Central apartments near Mall at Millenia later this year, and the company has its eye on a location for its second Orlando-area multifamily community in the airport submarket.
The 14.5-acre site at 7567 Narcoossee Road is about halfway between the Beachline Expressway (S.R. 528) and Lee Vista Boulevard. It’s surrounded by mostly industrial warehouse stock. The property has an expired business park Planned Development, so Encore has applied to rezone it to a mixed-use Planned Development with commercial zoning fronting on Narcoossee and R3 multifamily behind it.
Last year, DeBartolo Development contracted to buy the property for a multifamily project but ultimately changed its mind and walked away from the deal.
Encore enlisted the same civil team from Florida Engineering Group that had previously worked with DeBartolo. They filed a framework master plan that creates a 2.4-acre commercial lot on Narcoossee with cross access to the adjacent properties, and an 11-acre residential tract entitled for 262 dwelling units. A 1.5-acre pond at the back of the property would provide a buffer between the new 3-story apartment buildings and the single family homes to the east.
The developer also engaged Forum Architecture & Interior Design, which had also designed the Encore Park Central community on American Boulevard, near the Mall at Millenia.
Encore Enterprises operates in the commercial, hospitality and multifamily sectors. The company launched its multifamily division in 2008, specializing in ground-up construction of Class-A garden-style and garage-wrapped apartment communities.
The parent company currently owns and operates a hotel asset in Tampa and is also building a new apartment community in Fort Myers. Encore representatives were not available for comment.
Though it’s on a stretch of Narcoossee Road that isn’t known for multifamily development, the surrounding neighborhood is about to undergo a massive transformation. Two huge master planned communities — Vista Park and Torrey Preserve — are slated for construction in 2021 will draw thousands of residents to the area.
Pulte Homes is under contract for nearly 3,500 homesites in Vista Park, just east of this site, which includes the community’s town center. Nearby at Torrey Preserve, Winter Park-based P.A.C. Land Development has an approved plan for a 284-unit apartment complex called Mallory Square just off Narcoossee south of the Beachline.
And just north of the site, Pittsburg-based Maifly Development has secured master plan approval for a 240-unit apartment community at 6440 Narcoossee Rd.