Atlanta-based Carter USA has set its sights on a growing corridor in Seminole County, where multiple new apartment communities are being planned.
According to a St. Johns River Water Management District application, the company intends to develop a 320-unit multifamily community on 23.5 acres east of Rinehart Road and north of St. Johns Parkway in Sanford. The vacant land sits directly across the Walmart Supercenter on Rinehart Road and is immediately east of the Seminole Towne Center mall.
Plans call for an apartment community made up of 10 multifamily buildings surrounding a stormwater management pond and an adjacent amenity center and pool area overlooking the body of water.
In addition, Carter USA is seeking to develop a commercial building that will front Rinehart Road at the entrance of the community. Plans show the entitlements for commercial building allows for up to 25,000 square feet of office, medical office or retail uses.
Property owner, Paul Mellini, a successor trustee of the Jeno F. Paulucci Revocable Trust, is planning to sell a portion of the land to Carter USA. Meanwhile, another chunk of the property is under contract with The NRP Group, which plans to build a 352-unit apartment community at 1150 Upsala Road.
In total, the projects have the potential to add about 670 new apartments on land north of St. Johns Parkway, between Rinehart Road and Upsala Road.
Mellini would be the seller for both deals. Maitland-based Madden Moorhead & Stokes is representing the two developers separately in civil engineering plans.
Kurt Kehoe, vice president of development for The NRP Group, told GrowthSpotter the company won a requested Planned Development amendment, necessary for the project to move forward, earlier this summer. He said the company expects to close on their portion of the land next month and begin construction not too long after.
NRP Group’s planned apartment community features four, 4-story multifamily buildings that will also surround a retention pond. Amenities include a dog park, clubhouse with pool, and multiple garages for storage use.
Long ago, the property was sought after by another developer who proposed to build a 45-acre mixed-use development called the Creekside Center in 2007. Proposed plans spent about three years under review, before ultimately falling through.
Creekside Center would have consisted of 28 apartment buildings, boat and RV parking stations, a clubhouse with a pool and tennis courts, and two commercial buildings for retail and restaurant use.
Today, multifamily development is in full swing.
Nearby, The Altman Companies is seeking to purchase a portion of the Seminole Towne Center property with plans to build new garden-style apartments. The Boca Raton-based apartment developer is under contract to purchase about 13.5 acres next to the mall, located east of Towne Center Boulevard and north of WP Ball Boulevard.
Plans call for a 354-unit market-rate apartment community. The proposed multifamily community by Altman Companies is part of future redevelopment plans set by the mall’s ownership last year after it acquired the mall from Columbus, Ohio-based Washington Prime Group in lieu of foreclosure.
So far, the redevelopment plans include introducing the entertainment concept Elev8 Fun to the mall and retrofitting Macy’s former store location, and transforming it into a lounge that showcases cars, similar to the M Lounge in Orlando. The 2-story Elev8 Fun amusement center is set to open soon, where Sears once operated.