Miami-based Triton North is months away from completing its first SODO House luxury townhome community and gearing up for its second small-scale project in the district south of downtown Orlando.
Triton will break ground in March on SODO House by the Lake. Together the two projects will have a combined value of about $28 million.
“We love the City of Orlando, and we love the SODO District,” development director Luis Quintero said. He said the neighborhood has perfect fundamentals for an infill project: close proximity to the Central Business District, Orlando Regional Medical Center and the diversity of the district. “You have a lot of retail, commercial offices, medical spaces, industrial, and that’s amazing. We saw the opportunity to add value.”
Construction on SODO House, located on 1.1 acres along W. Harding Street, is well underway. The 23-home community consists of all 3-story townhomes with options for three or four bedrooms. Each unit has an average of 2,200 square feet of living space with 10-foot ceilings in the main living area, a two-car garage, three and half bathrooms and private gated yards in front. The modern designs were created by Michael Wenrich Architects, while Keesee and Associates led the construction planning and permitting. Bellavista Building Group is the GC.
Interior finishes will include luxury vinyl or porcelain tile flooring, custom cabinets with waterfall-style quartz counters and stainless steel GE appliances. The project consists of seven buildings. The first two, each with six units, are at the 90% and 70% construction stage. The remaining buildings have slabs and will go vertical shortly.
The sister community called SODO House by the Lake is located at 316 W. Michigan St. It has 25 units and will feature the same floorplan options and will have its own private dock on Lake Holden. Triton has completed the site clearing and demolition and plans to commence construction within 30 to 45 days.
“We’ll have 15 lakefront units, and the lakefront units will have a private deck, so the residents will have the ability to have a good furniture set, barbecues — stuff like that — in order to take advantage of those lake views that are amazing,” Quintero said.
While the townhomes are fee simple, Triton’s plan is to operate both communities as luxury rentals. “We might keep them as income-producing properties in our portfolio, but we’re open to hearing offers,” Quintero said. “We are not crazy about selling. Our plan is to stabilize the property, and then we’ll see.”
The SoDo District has been a draw for luxury townhomes. Tampa-based Icon Residential won an Aurora Award for the design of its 23-unit SoDo Place townhomes on Grant Street in 2017. The following year Venue Investments converted a former auto body shop on W. Jersy Street into a multiphased brownstone-style townhouse community where individual units are currently selling for $530,000.
“We have a pretty clear picture of our strategy and our plans in the area,” Quintero said. “One of the most important things to me as a real estate developer is the alignment of our vision and the city vision plan as well. And that’s something we found with the City of Orlando.”