Atlanta-based multifamily development and property management firm Wood Partners is making moves to secure a spot within a newly proposed mixed-use project in Apopka.
According to a development plan, the project at 2001 and 2209 South Binion Road will consist of two commercial out-parcels and a gated 285‐unit apartment community that Wood Partners is looking to develop under the title Alta East Shore.
The roughly 24-acre site is being planned so the commercial parcels front Harmon Road on the northern end, while the Alta East Shore development would rise on the southern end with nine apartment buildings spread across roughly 20 acres of land.
Its current owner, Gogrowth One LLC, paid a little more than $1 million to acquire the foreclosed farm property in 2014.
A site plan for the mixed-use project shows the commercial parcels would be split between a 2.66-acre parcel and a 2.18-acre parcel that straddle an access road leading into the proposed Alta East Shore apartment development.
The commercial parcels would be developed under separate submittals.
The Alta East Shore apartment project requires a total of 369 parking spaces, but Wood Partners is proposing 520 spaces including 13 accessible ones. The project is made up of 127 one-bedroom units; 122 two-bedroom units; and 36 three-bedroom units.
According to the application, Wood Partners also wants to incorporate recreational areas by adding a community pool with cabanas and lounge areas and a dog park. Additionally, three retention ponds will be designed as amenities within the community. A minimum 10-foot wide multi-modal recreation trail along Harmon Road is also featured in plans.
The mixed-use project is located west of SR 429 or the Daniel Webster Western Beltway, and east of Lake Apopka. Development plans go before Apopka’s City Council next Wednesday. Completion is slated for 2022.
Wood Partners has developed at least seven apartment buildings under the Alta brand name in Greater Orlando, according to its website. In total, it owns or developed at least 13 multifamily properties in the area.
The company is in the midst of developing Grande Lakes III, a 328-unit apartment project on John Young Parkway, just east of Orlando’s tourism corridor. It is also under contract to purchase about 15 acres of land near downtown Winter Garden for a 250-unit apartment complex called Alta Winter Garden.
Last month, GrowthSpotter reported that the developer netted a cool $74.7 million for its recently completed Alta Grande apartment complex in South Orlando. The 10-building, 314-unit multifamily community at 3512 Grande Reserve Way was bought by Lantower Residential, a Dallas-based real estate investment company.
Across its Apopka site, the second phase of the Vistas at Waters Edge single-family home development is underway. The land was subdivided to feature 143 home lots almost three years ago by a partnership between Boca Raton-based Equity Investments LLC and Gentry Land Company. M/I Homes is the developer.