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Park Square under contract to buy multifamily portion of mixed-use project in Horizon West

Highlighted in blue are the roughly 25 acres of land in Horizon West being prepped to feature a hotel, restaurant and retail space, medical office space and apartments.
Highlighted in blue are the roughly 25 acres of land in Horizon West being prepped to feature a hotel, restaurant and retail space, medical office space and apartments. (Orange County Property Appraiser/GrowthSpotter)

Park Square Commercial is working to secure a spot in the fast-growing Horizon West master-planned community.

The developer, a division of Orlando-based Park Square Homes, is under contract to purchase about 15 acres within a larger mixed-use project being planned at 7550 and 7602 Avalon Rd., near the Orlando Health Horizon West hospital campus.

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Sid Gautam, director of acquisitions and development, told GrowthSpotter the company wants to build a Class A apartment complex consisting of several free-standing garages and four, four-story multifamily buildings surrounding a pool deck amenity area.

The company is working with property owner PIB Land to seek entitlements allowing for up to 270 multifamily units.

Find out how the developer and architects are striving to make this apartment complex different from the competition.

Gautam said the so-called Horizon Vue complex will consist of studio, one-, two- and three-bedroom units with nine-foot ceilings and granite kitchen counter tops. Residents will have access to a central clubhouse, pool area, an indoor and outdoor fitness center, gaming room and a community jogging trail.

Poulos & Bennett is the civil engineer. Fugleberg Koch is the architect.

In addition to the apartments, PIB is also prepping the 25-acre site to feature allowances to build a 15,000 square foot daycare, 15,000 square feet of retail, 15,000 square feet of medical office space, and a 125-room hotel.

PIB Land entity, Jaffers Investment LLC, assembled the land between 2003 and 2015 for a total of $1.1 million.

Over the past several years, Horizon West has come together with thousands of rooftops under construction, if not yet built already, and plans for an 850-acre Town Center overlooking Lake Hancock and 220-acre regional park that’s roughly a third of the size of New York City’s Central Park.

The homebuilder is playing catch-up after selling out of its Orlando-area townhomes.

Nearby, Boyd Development’s Hamlin Town Center will include a 20,000-square-foot food hall, a 45,000-square-foot office building with retail and restaurant space on its first floor and a 125-room hotel, among other commercial buildings, once complete. The lakefront retail portion also features Orlando’s first 10-screen luxury theater Cinépolis.

Park Square is behind a number of apartment projects throughout Central Florida.

Just west of ChampionsGate, the company is building Neo at Four Corners, which is a mixed-use development anchored by a 340-unit apartment complex. The 27-acre parcel is located southwest of U.S. 27 and U.S. 192 and is a continuation of the company’s Neo brand that was first introduced in Kissimmee.

There, Park Square is approved to build more than 350 apartments next to the Valencia College Osceola Campus, called The Neo. It was formerly called Oxbow Crossing.

Gautam said by the end of this year the company should operate and open more than 320 multifamily units, and have nearly 1,000 in the pipeline throughout Central Florida.

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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