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Crescent Communities wants to expand its NOVEL brand to Seminole County

The proposed Novel Parkway project is split between three lots that will feature a new apartment community, retail space and self-storage facility.
The proposed Novel Parkway project is split between three lots that will feature a new apartment community, retail space and self-storage facility. (Seminole County)

North Carolina-based Crescent Communities is setting its sights to Seminole County.

The real estate investment and development company is seeking approvals from Seminole County’s Board of County Commissioners to move forward with plans for a 14.75-acre mixed-use project that will be anchored by one of its NOVEL-branded apartment communities.

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Located southwest of the Wilson Road and International Parkway intersection, the proposed Novel Parkway project is split between three lots, of which the largest (Lot 1) will feature up to 350 apartments units on about 12 acres.

Lot 2 is the smallest lot, spanning about an acre on the hard southwest corner of Wilson Road and International Parkway. There the developer is seeking entitlements for about 14,000 square feet of retail space.

The property features a specific land use designation called Higher Intensity Planned Development Target Industry (HIP­TI), which was set by Seminole County to try to lure economic growth along its northern I-4 corridor. Not too long ago many properties remained vacant in the corridor, west of I-4.

The developers believes the new complex will attract employees from the new Heathrow hospital next door.

Under its zoning, permitted commercial retail uses include microbreweries, wine stores and a liquor store associated with a supermarket.

Finally, Lot 3 is located west of the proposed multifamily community and can feature a large self-storage facility with about 120,000 square feet, or about 30,000 square feet of office and medical office use.

The proposed maximum height for buildings within the PD ranges from 35 feet for commercial projects to 60 feet for residential projects. One of the conditions set by staff includes adding a solid six-foot wall on Lot 3 along Wilson Road if self-storage is built, and limiting its height to 50 feet.

Madden Moorhead & Stokes is the civil engineer. Paul V. Mellini, a trustee of the Jeno F. Paulucci Revocable Trust, currently owns the property.

A second reading of the proposed land use amendment and rezoning request goes before county commissioners next week Tuesday.

Over the past couple of years, at least two new developments have been introduced to the area.

Lake Mary-based Integra Land Co. is currently in the middle of building its 350-unit Integra Crossings apartment complex, that’s part of a larger mixed-use project slated to consist of a 100,000-square-foot hotel with 240 rooms and 325,000 square feet of commercial space.

David McDaniel, president of Integra, told GrowthSpotter the company plans to open the multifamily community within the first quarter of next year.

Nearby, Alliance Residential Company is developing a 260-unit apartment community called Broadstone Parkway Apartments on the southwest corner of International Parkway and S.R. 46.

The 370-acre Heathrow International Business Center, which features over 2 million square feet of office space, is located south of the proposed projects, as well as the Wekiva Parkway Extension that will connect FL Toll Road 417 to Florida Toll Road 429, once complete.

The same firm that built Novel Lucerne in Downtown Orlando and Gateway Center in Altamonte Springs has turned its attention to the Lake Nona area.

Meanwhile, Crescent Communities is working on several mixed-use developments around Central Florida where it will feature its NOVEL multifamily brand apartments.

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In the City of Orlando the company is developing a 17.25-acre mixed-use project that will feature a 260-unit NOVEL Nona multifamily complex. In addition, the proposed PD seeks to include 25,000 square feet of commercial uses with 20 upper-floor live-work units on Narcoossee Road and two restaurants.

The company introduced its NOVEL brand identity in 2017, and completed the 375-unit NOVEL Lucerne in Orlando’s SoDo District earlier this year. That highly-amenitized mixed-use project is anchored by Orlando’s first Earth Fare organic grocery.

The developer is also seeking to develop a similar project near SeaWorld. The development plan for that site calls for up to 360 apartments.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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