Orlando-based Selnik Development is under contract to buy and develop vacant lakefront land in Horizon West’s Village of Bridgewater community.
The company was listed as the developer in a recently submitted Land Use Plan in Orange County that is requesting to amend the land use and rezone about 34 acres at 5504 Winter Garden Vineland Rd. to allow for a new 375-unit multifamily community.
Currently, the property is owned by a holding company led by businessman Frank J. Sharp III. Records show, he and members of his family have owned the land since the mid 1980′s.
Windermere High School was constructed across from the site in 2017.
Selnik Development is seeking a Lakeside Village land use, which will allow for multifamily buildings up to five stories in height (65 feet) and 376 units.
Clear construction plans have not yet been submitted. Erika Hughes with VHB is the civil engineer.
Selnik Development was founded in 1982 by Anil Thadani. In addition to development services, the company also structures and arranges debt and equity transactions, according to its website. Last year, Selnik completed a 243-unit apartment complex in Gainesville called the Mayfair Apartments.
The company has partnered with developers to help build apartment communities in North Carolina, South Carolina, Alabama, Tennessee, Kentucky and Georgia. A representative with the company was not immediately available to comment for its plans.
Village of Bridgewater is one of the five villages underway in Horizon West, which is bounded by S.R. 192 on the south and S.R. 50 to the north. Bridgewater is also the closest villages to Lake Butler and the lofty Town of Windermere.
In comparison to others, the village tends to feature larger homes that typically sit on 70-foot lots, as compared to 40-foot and 50-foot lots in villages further west. Residential developments in Bridgewater include Summerport, Independence, Summerlake and Orchard Hills/Park.
Horizon West is one of the fastest growing master-planned communities in the United States. Features within the master-planned area include an 850-acre Town Center overlooking Lake Hancock and a planned 220-acre regional park that’s roughly a third of the size of New York City’s Central Park.
Earlier this month, GrowthSpotter reported Park Square Commercial, a division of Orlando-based Park Square Homes, is planning to purchase about 15 acres near the Orlando Health Horizon West hospital campus, with plans to build up to 270 multifamily units at 7550 and 7602 Avalon Road.
Atlanta-based real estate firm Davis Development is also building a multifamily community in Horizon West. Plans call for a 284-unit complex south of the Avalon Road and Waterway Passage Drive intersection.