Dream Finders' vice president for land, Dan Edwards, told GrowthSpotter the company is still working through some engineering challenges but hopes to submit plans at the April 3 Winter Springs planning and zoning board meeting.
"We are still working through our approvals with the city of Winter Springs," Edwards said. "We're working on our engineering plans and our aesthetics for the board meeting in April. We could start site development shortly after that."
If the city approval process goes smoothly, Edwards said the company could wrap up site development and infrastructure work by the fourth quarter of this year. The company is not ready to estimate what the total investment in the project will be.
"Then we'll start building a model (townhome) and be starting our sales process," he said.
Dream Finders, under its affiliate, DFC Seminole Crossing LLC, has submitted plans to the St. Johns River Water Management District which outline a 114-unit townhome development on 8.35 acres the company owns in the Winter Springs Town Center near the corner of S.R. 434 and Michael Blake Boulevard. Plans show the development would consist of 20 two- and three-story buildings with from 3 to 10 units each.
Dream Finders also will be building roads, sidewalks and other infrastructure, according to documents filed with the water management district. The civil engineer on the project is NV5, formerly Lochrane Engineering of Orlando.
A spokesman for the Winter Springs Planning and Development Division said the latest plans show the number of townhome units reduced from the initial 114 to 108. A site plan submitted to the city has not been approved, he said.
Winter Springs Town Center is a mixed-use development center around S.R. 434 and Tuskawilla Road. The concept for the center, which came about in the late 1990s and early 2000s, was to establish a "high quality, vibrant, 'downtown' heart to the city with a full mix of urban services," according to the center's website.
Development in the center has been picking up since the end of the Great Recession. In March 2017, Catalyst Development Partners paid $5 million for a 16.5-acre parcel slated for a 279-unit apartment complex.
Catalyst sold 10.37 acres to Dream Finders for $2.88 million last July. Edwards said the townhome development will be built across Michael Blake Boulevard from Catalyst's "The Blake" apartments.
"The Town Center has its own appeal," Edwards said. "Winter Springs is a desirable area where we see some growth occurring as far as the Seminole Market. It was an obvious choice for us to want to be there and we think the townhome product will be a good fit for buyers in the area."
City officials say when the Town Center is built out, they expect as much as 800,000 square feet of retail, 600,000 square feet of office, 700 hotel units, and 4,000 residential units. Total investment is projected to be $700 million to $800 million, according to the center's website. Just over 40 percent of the total acreage is now developed.