UPDATED: APRIL 29, 2017 6:48 AM — Westgate Resorts is attempting to revive a decades-old plan to build on the remaining land of one of David Siegel's first Orlando timeshare resorts, but with an eye to sell the site to a multifamily developer.
Located at 5736 S. Texas Ave., northeast of Artegon Marketplace and the north end of International Drive, roughly two thirds of a 19.4-acre parcel remain undeveloped beside the former timeshare hotel The Seasons, which was converted by Westgate in 2015 to 45 apartments.
Siegel founded his timeshare firm Westgate Resorts in 1982, and in 1983 developed the first 45-unit phase of The Seasons as one of his initial timeshare projects, along with another property on Kissimmee's W192 tourism corridor.
The timeshare concept performed better on W192 than it did on Texas Avenue, and Siegel never pursued full buildout of The Seasons property.
Westgate's land owner affiliate filed a request on Thursday with Orange County to rezone The Seasons property from R-3 to Planned Development, in order to develop up to 388 more multifamily units.
If rezoned to PD, Westgate will either build market-rate apartments or sell to a multifamily developer for the additional 388 units, since apartments aren't Westgate's business focus, Chief Operating Officer Mark Waltrip told GrowthSpotter.
The Seasons apartments is near full occupancy and managed by Westgate staff, according to assistant property manager Sandy Brunson.
Full development of the property will be true urban infill amidst a sea of other housing subdivisions and apartments north of W. Oak Ridge Road, said Jim Hall, director of planning with VHB and Westgate's project manager.
Neighboring stakeholders have been consulted about the plans, and have been amicable as long as their properties are given buffers, he added.