The nation’s largest builder of student housing is inching closer to redeveloping a big box retail site near the University of Central Florida.
Team members working with Athens, Georgia-based Landmark Properties just submitted a Land Development Plan for a student housing community where a Burlington store currently operates.
The roughly 12-acre property at 12151 E. Colonial Dr. previously traded hands in 1990 for about $5.2 million. Marolyn Cowart Russell, who serves as a trustee of the William Ogburn Russell, Jr. Revocable Trust, is the property’s present-day owner.
Plans for the project, dubbed Cottages at Alafaya, consist of developing 602 beds across 151 units. The site plan depicts 17 cottage-style buildings with about four to eight units each.
The buildings encircle a four-story parking garage and a separate clubhouse building. Amenities include recreational space with grills and benches and a community pool and courtyard.
In January, GrowthSpotter reported the developer filed a Land Use Plan with Orange County requesting to rezone the parcel from Commercial to a Planned Development with a Low-Medium Density Residential land use.
Land use plans later scored approvals from the Orange County’s Planning and Zoning Commission in April. A month later, a public hearing about the project went before Orange County’s Board of County Commissioners.
If approved, the project would be Landmark’s third off-campus student housing community in the Orlando market. In 2018 it completed the 750-bed Station at Alafaya, north of UCF. The Retreat at Orlando, which has 894 beds, was completed in 2014 and sold last year for $81 million.
Cottages within their developments often come fully furnished and feature a washer and dryer. Landmark Properties also provides roommate matching services in addition to its individual lease options.
Under construction next door at 12195 E. Colonial Dr. is a mixed-use project called Park Square Plaza. Signed-on businesses opening up shop there include a 24-Hour Fitness gym and a PDQ Chicken. A hotel is also planned for the site.
Across the street the Lake Calvert Square retail center recently sold for $2.5 million.
A block away to the west, the EOS Apartments sold for $52 million in 2016 just shortly after it was completed in late 2014.
Its developer, Catalyst Development Partners opened its sister project, Coda Apartments, in April. The new $42 million multifamily project at 13645 E. Colonial Dr. features 296 units.