Palmeira Holdings’ plans for a large-scale development at the 110-acre site in Seminole County known as Reagan Center – and now referred to as Parkside Place – have grown, and have passed an initial vote from county commissioners.
Palmeira Holdings’ plans for a large-scale development at the 110-acre site in Seminole County known as Reagan Center – and now referred to as Parkside Place – have grown, and have passed an initial vote from county commissioners. (SK Consortium Inc. and staff illustration)

Palmeira Holdings' plans for a large-scale development at the 110-acre site in Seminole County known as Reagan Center – and now referred to as Parkside Place – have grown, and have passed an initial vote from county commissioners.

"The density we have requested got approved ... without that density, a mixed-use project like this just doesn't have enough people," said Karim Ismail, co-CEO of Palmeira. "We can do things like shuttles, car shares, and other amenities. ... It makes sense with this site, this location, it can be successful."

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Some increases detailed in the latest plan for the development were significantly higher than the existing PUD, which was approved more than two years ago: Multifamily residential would expand to 5,012 units from 827 units, while 66 townhomes would be eliminated from the plan.  Office would expand to 1,392,876 square feet from 216,537 square feet, with retail expanding to 290,000 square feet from 236,858 square feet.

A hotel would be added, with 250 rooms in 150,000 square feet, as would an assisted-living facility with 312 beds in 200,000 square feet.

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Transmitting the land-use proposal and rezoning to the state for further review was unanimously approved by the Seminole County Board of Commissioners at their meeting Tuesday. It could come back to the county for final approval in 60 to 90 days, Ismail said.

Multimodal transportation and sustainability were central to Palmeira's proposal, as was conservation that Ismail said might have helped push the proposal through the county commission's first vote. With enough density, a Lynx shuttle to SunRail is possible, said Jon Walls, development services director at NAI Realvest and project manager and representative in the sale along with listing agent Paul Partyka of The Partyka Group at NAI Realvest. A park could be made open to the public as the site is not gated, Ismail said.

"I think one of the factors would be that we extended the green space and conservation land as much as we can," he said. "... It's an opportunity not just for the residents there but for the neighboring community to also utilize the site."

Toronto-based Palmeira brought the property under contract in February. SK Consortium is civil engineer on density planning and Traffic Planning and Design of Maitland handled transportation analysis. Closing is set once entitlements are finalized, Walls said.

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Building plans would also emerge after closing, Ismail said. Palmeira has worked with local architecture firm HHCP on conceptual plans.

"We're going to have about a year, from today, of planning," he said, adding they will be looking for collaborators once the construction stage is reached.

From tech that includes environmentally friendly heating and cooling systems and solar panels to use of wood when possible in construction, the design will aim to make use of elements aimed at sustainability, Ismail said, as well as landscaping.

"Obviously the buildings themselves have to be highly energy efficient," he said.

The prominent live-work-play theme of late in mixed-use development also is front of mind in planning Parkside Place. Proximity to Seminole State College factors into that as well.

"We're giving people the opportunity to live closer to campus but still live in an adult-oriented complex," Walls said, with highways nearby enabling work commutes to several parts of Metro Orlando. 

Have a tip about Central Florida development? Contact me at bzimmerman@growthspotter.com, (407) 420-5427 or @zmediaworks. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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