Estero-based ComTerra Development Groupandpartner Craft Development Corp. of Toronto are progressing on the first stage of their 20-acre Destination Shoppes at Universal, filing updated plans this week that show the first phase of buildings and a national tenant.
A revised Development Plan was filed Nov. 21 with Orange County for what should be the first phase of retail along Universal Boulevard, along with a separate DP for a 7-Eleven fuel station and convenience store. Both are scheduled for the county's Dec. 7 Development Review Committee meeting.
The new DP shows retail building placements for lots 2, 3 and 4 of the OEP-East Parcel PSP, which make up 10.12 acres of the 20-plus acres that ComTerra and Craft's affiliate bought this past January at the northwest corner of Universal Boulevard and Destination Parkway.
The plan now shows eight retail buildings ranging in size from 3,600 to 10,400 square feet. Three of those are multi-tenant buildings, and five likely restaurant outparcels.
This revised DP filing calls for the initial development to be 18,200 square feet in two multi-tenant buildings on the westernmost edge of the property, directly south of ContraVest's The Courtney Universal apartments. The eight buildings would total 51,438 square feet of retail.
The developers are still in the LOI stage with several potential tenants for the first few buildings, ComTerra principal Jim Nashman told GrowthSpotter on Wednesday. Their intent is to begin site work on the property in late First Quarter 2017, he added.
Six of the eight buildings have been placed up against the frontage of Universal Boulevard, with five featuring patio space for likely restaurant uses. That placement reflects ComTerra's effort over the past year to work with Orange County planners on aligning Destination Shoppes with future walkability goals for Universal Boulevard.
Destination Shoppes will be built in multiple phases. The developer noted on plans that it will build 10-foot-wide sidewalks along Universal Boulevard.
7-Eleven, Inc. is the listed developer, with Orlando's Interplan LLC the hired architect and civil engineer. It's unknown if the company will buy or lease the land.
Like with the retail buildings, the 7-Eleven store will be placed up against Universal Boulevard, with parking and fuel pumps set inside the property.
ComTerra and Craft are planning phased development of 150,000 square feet of retail, dining and entertainment, with mid- and long-term plans for how their strip of retail outparcels could evolve vertically over the coming decades, in step with what may come next on Universal Boulevard.
ContraVest is planning a second phase of 344 apartments on 12.17 acres directly north of Destination Shoppes land, a land purchase it should close in Q1 2017.
Land leases for the retail and restaurant space of Destination Shoppes are being coordinated by Julia Sosa of LandQwest Commercial.