Design progress made on new interchange at Daryl Carter Pkwy, investment follows

Design progress for a planned interchange at Daryl Carter Parkway and Interstate 4 is on pace to hit a key benchmark at year's end, and construction for the 69-acre Vineland Pointe shopping center directly south has its first three big-box retailers targeting October to open. 

The Federal Highway Administration (FHWA) has accepted a design concept that the Florida Department of Transportation (FDOT) recommended for the interchange back in 2016, and FDOT is now proceeding with the interim design that includes three ramps, FDOT spokeswoman Jessica Ottaviano told GrowthSpotter

The ramp not included in the interim work is the on-ramp to westbound I-4. This fourth ramp will be constructed later when that area’s segment, I-4 Beyond the Ultimate 1B, goes to construction.

FDOT is still working with private land owners at the interchange on Right-of-Way agreements, which include affiliates of Maury L. Carter & Associates and New York-based developer O'Connor Capital Partners.

FDOT is currently 60 percent complete on its design plans, and anticipates full completion by year’s end, Ottaviano said. The ROW phase would start in early 2019, with construction anticipated to begin in early 2021.

O'Connor Capital bought more than 69 gross acres in April 2017 directly south of the anticipated interchange. The developer has earned Orange County approvals and broken ground there on Vineland Pointe, planned for more than 450,000 square feet of retail across three phases. 

Under construction now for the first portion of Phase 1 are shell buildings for Burlington (40,000 square feet), Ross Dress for Less (23,000 SF) and Marshalls (23,000 SF), all of which are anticipated to open by October, said Peter Bergner, president of O'Connor Property Management. 

A 30,000-square-foot grocer building in Phase 1 will follow in construction and opening late in the fourth quarter. Construction permit filings name Lucky’s Market as that tenant. The company has not confirmed the location, but it could be the chain's ninth in a Greater Orlando pipeline that has grown rapidly in the past year.

A third building in Phase 1 of 40,000 square feet is on its way to becoming a food service hub for the shopping center. Panda Express, MOD Pizza and Chipotle are the first three tenants formally signed there, said Bergner, taking up roughly 12,000 square feet between them.

O’Connor Capital has a site work permit in hand for Vineland Pointe’s Phase 2, which is the 32.5-acre parcel on the development’s northeast side, next to Lake Willis. The developer will build a wall on the eastern side of that parcel to offer privacy to the single-family homeowners around Lake Willis.

No tenant leases have been fully executed for Phase 2, said Bergner, which is supposed to focus on entertainment uses. But movie theater chain Alamo Theaters has been actively marketed by O'Connor Capital as anchor for the space. 

During its Development Plan approval process with the county, O'Connor Capital committed to investing in the widening of Vineland Road.

The company has a tri-party agreement with Orange County and FDOT, and has been negotiating those costs since 2016. Plans for the road widening are still only near the 60 percent design stage, Bergner said.

Over the past year, other new development plans and land acquisitions in the immediate vicinity of the I-4 and Daryl Carter Parkway interchange include multiple new self-storage facilities, apartments by local and Miami-based developers, and three new hotel pads

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Copyright © 2018, GrowthSpotter
70°