New York-based developer O'Connor Capital Partners has updated plans for a power center along Daryl Carter Parkway that go before Orange County staff next week for review, and some retail and dining brands listed on the latest draft would be new entrants to the Orlando market.
The new retail, dining and entertainment center dubbed Vineland Pointe is currently projected for 447,500 square feet of floor coverage across up to 31 tenant spaces, covering 69.53 acres that are under contract for purchase from an affiliate of Daryl M. Carter, president of Maury L. Carter & Associates.
First filed in late September, a Development Plan (DP) for the project has since gone through multiple revisions in response to county staff comments. The latest DP revision should go before the Development Review Committee on March 8.
The property lies across three parcels totaling more than 69 acres, based north of Lake Street and Regency Village Drive, and on either side of Daryl Carter Parkway.
Phase 1, on 20.87 acres south of Regency Village Drive, has retail floor area currently projected as 225,000 square feet. It will focus on off-price retailers to fulfill unmet demand for such stores in the corridor along S. International Drive, said Peter Bergner, president of O'Connor Property Management.
Phase 2, on 32.54 acres on the northeast side of Daryl Carter Parkway, would cover 115,500 square feet, while Phase 3 on 16 acres on the southwest side of Daryl Carter Parkway has floor area projected for 136,000 square feet.
Bergner said Wednesday site work could begin on Phase 1 by early June, if county approvals come as expected.
He declined to comment on when O'Connor Capital is scheduled to close on the first land purchase, or which prospective tenants are lined up for the development.
But brand names were left on a few sheets of the latest 70-page DP that may indicate future tenants.
In Phase 1, retailers labeled on the plan include Burlington Coat Factory (45,000 square feet), Marshalls (20,000 SF), Ross (20,000 SF), Rack Room Shoes (6,000 SF), Boot Barn (10,000 SF), West Marine (13,000 SF), The Habit Burger Grill and Chipotle (4,000 SF), First Watch (4,500 SF), Ulta Beauty (14,500 SF), Midici: The Neopolitan Pizza Company (3,000 SF), Nine West (4,000 SF), and Meson Sandwiches, Dunkin Donuts, Smoothie King and Subway (3,500 SF).
In Phase 2, Cheddar's Scratch Kitchen is marked for a 7,500-square-foot outparcel fronting the parkway; Lucky Strike bowling alley (32,000 SF inline) would be new to Orlando; a restaurant spelled as "Portello's" may be Chicago-based chain Portillo's (9,000 SF), whose nearest location is Tampa and had executives say last year it was expanding with that standard square footage; and an unnamed movie theater (41,000 SF inline) is the anchor.
Phase 3 includes a handful of brand labels amongst its 11 buildings: Cheesecake Factory (10,000 SF), H&M (21,000 SF), Barnes & Noble (13,000 SF), and Total Wine (15,000 SF).
Some of those brands are ones O'Connor Capital helped place in The Crossland and Cinque Terra shopping centers in Kissimmee, which it sold with joint venture partner Tupperware for $121 million last August.
O'Connor Capital and other property owners along Daryl Carter Parkway are banking on the future construction of an I-4 interchange by the Florida Department of Transportation (FDOT).
FDOT's recommendation for the interchange remains under review by the Federal Highway Administration, an FDOT spokesman confirmed on Wednesday. If approved, construction wouldn't start until 2018 at the earliest.