Charlotte-based Crescent Communities is advancing its plans for a second Novel-branded apartment community in Orlando on Narcoossee Road near Lake Nona.
GrowthSpotter first reported last July that Crescent was seeking to annex the 17.3-acre site into the city for its 260-unit Novel Nona Place apartment complex. The final approval, along with Planned Development zoning, is anticipated this summer. Last month, the developer filed a Specific Parcel Master Plan for the mixed-use project following the same development plan outlined in its early conceptual plan.
The SPMP creates a 2.3-acre parcel entitled for 25,000 square feet of commercial uses with 20 upper-floor residential or live-work units on Narcoossee Road, bringing the total number of dwelling units to 280. Included in the PD commercial entitlements would be a 6,500-square foot high-turnover, sit down restaurant and a 3,500-square-foot quick service restaurant. Novel Nona would be built on a separate 15-acre parcel.
The community would consist of two 4-story apartment buildings with a mix of tuck-under garage and surface parking, and three separate courtyard amenity areas. About half of the building closest to the lake lies in an area with Neighborhood Residential future land use, but it’s outside of the 400-foot buffer that restricts building heights on the Lake Whippoorwill waterfront.
The development matrix calls for 47 studio apartments, 109 one-bedroom units and 104 two-bedroom units. The plan also outlines an outdoor amenity package that includes a resort pool with sun deck and seating overlooking the lake, multi-use activity lawns, outdoor grilling centers, hammocks and lounge seating with firepits, shade structures and passive garden spaces. The public trail with lush landscaping and bench seating will connect to the existing trail network that stretches along the entire lakefront.
The site is immediately north of Narcoossee Cove, a 32.5-acre mixed-use development now underway by The Bainbridge Companies. The two developments would have a frontage road connecting the commercial centers. Narcoossee Cove is also approved for 354 rental units divided among garden-style apartment buildings and about 30 two-story carriage style units with private garages, along with a clubhouse and pool overlooking the lake.
Bainbridge is also building a separate 300-unit apartment community just south of Narcoossee Cove on a former KUA campground. Both Bainbridge communities are on properties that had existing boat docks and ramps, and those communities will provide lake access to their residents.
Crescent Communities is best known locally for having recently completed the Novel Lucerne mixed-use development in downtown Orlando, and for office parks in Lake Mary. The company also developed The Gateway Center in Altamonte Springs.
Crescent had previously considered building a third Novel-branded community in Orlando tourism corridor. The firm was under contract for 18 acres adjacent to Marriott’s Harbour Lake Resort on Lake Willis and filed a Land Use Plan with Orange County last summer that would have entitled the property for 360 dwelling units.
Crescent withdrew the application in early August. Officials with the company could not be reached for comment.