Multifamily development continues to head south along Avalon Road in Horizon West.
Winter Park-based Seidel West I LLC, led by landowner and real estate manager Cole Clayton, is seeking to rezone 16.9 acres on the northeast corner of Seidel and Avalon roads for a future multifamily project.
A rezoning application recently submitted in Orange County shows the company tapped Jennifer Stickler with Kimley-Horn & Associates Inc. to help rezone the property from A-1 to PD in order to construct a 332-unit apartment complex.
Orange County’s Development Review Committee has reviewed the submitted Land Use Plan for the project, dubbed Elysian, and awaits a response from the developer.
Clayton did not immediately reply to requests for comment from GrowthSpotter.
About two miles north along Avalon Road, Atlanta-based multifamily real estate company Wood Partners is approaching the groundbreaking of its planned 350-unit Alta Horizon West community. Just this month, Wood Partners paid $8 million for the property, located northeast of the intersection between S.R. 429 and Old YMCA Road.
GrowthSpotter wrote about plans in 2019 when Wood Partners managing director Bryan Borland began trying to convert the land entitlements to allow for multifamily development.
New apartments, along with townhomes and single-family homes, have been popping up throughout the 23,000 acres that make up Horizon West, one of the faster growing communities in Orange County.
D.R. Horton’s commercial arm DHI communities recently activated plans for a 280-unit multifamily community on 11.4 acres on the southwest corner of Waterway Passage Drive and Avalon Road, as part of its Waterleigh master-planned community.
In 2019, IMT Residential paid $73 million for recently built apartments northwest of the Seidel Road and Seton Creek Boulevard intersection. The IMT Sonoma Hills community was completed in 2018 with a resort-style pool, fitness studio and dog park.
The Elysian project sits nearby within Horizon West’s Hickory Nut community (Village H).
Once fully developed, Hickory Nut is expected to consist of about 6,550 residences. The village is situated between the Lake County border and S.R. 429, with Old YMCA Road to the north and Water Spring Boulevard to the south.
Active developers in the area include Unicorp National Developments Inc. with its neighborhood retail center The Mark, located on 21 acres next to the Sonoma Hills community along Seidel Road.
The Mark features more than 112,000 square feet of retail space. Tenants include New York-based brewery New York Beer Project, Starbucks and Huey Magoos, Walgreens, AdventHealth and others.
Hanover Capital Partners is building out its 67-acre Hickory Nut residential community on the west side of Avalon Road, south of Seidel Road. Plans include building around 50 single-family homes.
East of S.R. 429, directly across Hickory Nut, Toll Brothers is near selling out its executive collection of single-family homes in its Horizon West at Lakeshore community. The homebuilder is also building Westhaven at Ovation, which includes 368 one- and two-story single-family homes and townhomes in Horizon West.
Metro Orlando was one of the top performers nationally in apartment development, with 8,652 apartment starts in 2020, according to RealPage, a real estate software and analytics firm.
A total of 7,425 new apartments were completed in the year ending in March, according to RealPage data. Nearly 15,150 units are under construction in metro Orlando, and about 10,422 of those units are scheduled to complete within the next 12 months.