Windermere-based FHC Developmentis pursuing infrastructure and construction permits for the first phase of its 40-acre, mixed-use Spring Isle Center project in east Orange County, the company's CEO told GrowthSpotter.
Located at 321 S. Avalon Park Blvd. on the northeast corner with Golden Isle Boulevard, the 5.16-acre parcel is part of a phased development for more than 40.5 gross acres that FHC owns, part of it with joint venture partner Stafford Properties of Georgia.
The surrounding Avalon Park and Waterford submarkets have been among the county's leading neighborhoods for new home construction permits over the past decade, and are now underserved for neighborhood commercial uses, said CEO Frank Cawthon Jr.
FHC has a building permit application under review now with county staff, and applied for a site infrastructure permit last week with the St. Johns River Water Management District.
Close to 11 acres of that property are under contract to a national homebuilder for 88 townhomes, said Cawthon, for which a Preliminary Subdivision Plan earned county approval earlier this month.
Up to 100,000 square feet of self storage use, a day care facility and single-tenant retail outparcels are projected, which are approved within the Planned Development and being negotiated with prospective tenants, he added.
In mid-September, the developer sought to amend the Land Use Plan to allow a retail tire store with minor automotive services. Signed tenants now include a 4,006-square-foot Heartland Dental office and 2,500-square-foot unnamed coffee shop with drive-thru, Cawthon said.
"We still have about 3.5 acres left, and are hoping to attract an assisted living facility or urgent care user for that site," he added.
FHC plans to sell the townhome lots, self-develop the self storage facility and lease outparcel pads for the retail and medical office users.
Golden Isle Boulevard bisects the property, which Cawthon's FHC has already built. The developer is now in the midst of site work that includes a new master lift station and grading, which is targeted for completion in the next six weeks, he said.
"Then we'll go vertical in January on the first few retailers," Cawthon said. "By July, we should be ready to open those first retail stores."