Developer Collier Companies is looking to complete the permitting phase of its long-time planned Polo Glen at Lake Betty apartment project in northwestern Orange County after months of deliberation with global security company, Northrop Grumman Systems Corporation.
According to a Environmental Resource Program Permit application filed in St. Johns River Water Management District, Collier Co. is fine-tuning plans for its proposed 336-unit multifamily development 2695 S. Orange Blossom Trail.
The activity signifies a milestone for a project that has a long history of being dormant.
The deal for the apartment community near Valencia College East falls in line with recent big-ticket multifamily sales near college campuses, where a number of investors are actively re-positioning multifamily and student housing complexes.
The reactivated and modified plans went before Orange County’s DRC last year in February. At the meeting, the developer was asked to work with NGSC to address certain issues raised regarding access points and easement rights to Lake Betty Boulevard.
Committee members also advised parties meet with the Florida Department of Transportation to work out the location of a new turn signal. Finally in August, the DRC approved the plans under the condition the developer continue to work with FDOT.
That same month, attorney Chris Roper of Akerman LLP filed an appeal on behalf of NGSC in an attempt to overturn DRC’s decision. The letter included issues over rights to the easement, the development’s public park use and interconnectivity of the project, among other alleged afflictions.