West Palm Beach-based Long Lake Development LLC, led by developer and contractor Dale Hedrick, is proposing a new multifamily community less than five minutes away from Full Sail University in Winter Park.
Kimley-Horn, the civil engineer and applicant retained by the LLC, is seeking to rezone 18.15 acres at 6730 Hanging Moss Rd. to allow for 363 apartments in addition to several waivers related to building height and building separation.
According to an Orange County Development Review Committee application, plans involve building a new multifamily community on vacant land that is currently zoned for industrial development and surrounded by industrial and commercial properties.
Scott + Cormia is the architect.
A conceptual site plan for the proposed Hanging Moss Apartments shows the community will be made up of six midrise multifamily buildings surrounding a large 3.15-acre retention pond.
Features include a clubhouse/leasing center with a swimming pool overlooking the water.
Long Lake Development LLC is seeking waivers to build a mix of 3-story and 2-story multifamily buildings. Hedrick Kirco is also seeking allowances to be able to construct buildings with less separation between them as required by code.
If the site plan is approved, Hedrick promised to dedicate some land to the county to be used for the future Little Econ Trail extension.
Records show Long Lake Development LLC paid $1.74 million for the site last year.
The previous owner, J and S Industrial Holdings LLC, led by Steve Pece, once tried building a 30,000-square-foot waste processing facility on part of the property. At some point in 2020, plans changed and Pece began to clear the land for multifamily development.
GrowthSpotter reported the project (at the time called J&S Apartments) was one of at least 18 developments in Orange County put on hold while the school district temporarily stopped issuing school capacity credits to developers because a state law negated a previous capital contribution it was previously collecting.
Multifamily investors in the area, like the RADCO Companies, have had success with renovating older apartment communities by the university. In 2020, the company sold the Alvista Winter Park complex at 3935 Sutton Place Blvd. for $54.25 million.
The 288-unit apartment complex is less than a mile east of Full Sail’s campus. According to the deed, three companies tied to New York-based Phoenix Realty Group purchased the apartment community. RADCO bought the property in 2016 for $32 million and invested about $4 million into the property before selling. Phoenix Realty Group also intends to add more capital improvements.
Hedrick did not respond to requests for comment.
He is the co-founder and president of Hedrick Kirco Properties, which specializes in the development, construction and property management of commercial real estate.
Hedrick is also president of the student housing development company Pembroke Student Housing LLC. The company built the 351 Pembroke Place student housing development by Palm Beach Atlantic University in 2020. The eight-story building consists of 154 one- and two-bedroom units with full kitchens and double occupancy accommodations for 510 beds.
EDITOR’S NOTE: This story has been updated to clarify Hedrick Kirco Properties is not involved in the Hanging Moss Apartments project. The proposed community is a one-off venture led by Dale Hedrick.