Advertisement
Seminole County Developments

Bank-owned property in downtown Oviedo slated for mixed-use development

A significant portion of Oviedo’s Old Downtown Master Plan 2040, which aims to transform some 45 acres into a more pedestrian-friendly urban center, is slated for mixed-use development.

Citizens Bank of Florida is looking to build a commercial center and potential live-work units around an existing bank location at 156 Geneva Drive. To do this, the bank is looking to amend a Non-Statutory Development Agreement (NSDA) approved by the city council in 2019.

Advertisement

The latest Master Land Use Plan (MLUP) contains two conceptual examples of what can be built on the site.

The first does not consist of work-live units and features a large two-story office/retail building along with a restaurant, parking garage and smaller two-story commercial building. The second example features a 56-unit multifamily building with a pool and volleyball court, as well as two office/retail buildings, a small restaurant, and a parking garage.

Advertisement

The 7.38-acre site for the Citizens Bank mixed-use project sits on the north side E. Broadway Street, between Geneva Drive and Oviedo Boulevard. The property is designated Downtown Mixed Use (DMU)/Old Downtown Subarea on the 2025 Future Land Use Map and has a Mixed-Use District Historic Downtown Perimeter (MUD-HDP) zoning.

According to the NSDA, this allows for 18 dwelling units per acre. The minimum number of residential units is 56 and the maximum number of residential units would not exceed 112.

Carnahan Proctor Cross is the civil engineer.

Currently, the bank and the city are working together to amend the NSDA in order to grant a land swamp agreement between the two parties. The request goes before the City Council next Monday.

If approved, the city would take ownership of a small portion of the land it hopes to incorporate into a larger trail system that will be 25 feet wide and link to a 12-foot wide paved multipurpose trail with lush landscaping. The trail will surround Solary Park and eventually connect to more intricate trail systems like the Seminole Cross Trail and the second phase of the widening of State Road 426/County Road 419 that will begin construction next year.

Citizens Bank of Florida will be responsible for the material cost of the plants installed within the trail parcel, while Oviedo will be responsible for the design and construction of the trail parcel.

At a Local Planning Agency meeting in November, City Manager Bryan Cobb said the city wants to try to create a healthy “pedestrian circulation” within its downtown. He believes park amenities and trails will establish a more walkable environment.

“It’s a small piece but it has huge significance because this helps us complete this circulation,” he told LPA board members at the meeting.

Advertisement

The Oviedo City Council adopted the Old Downtown Master Plan 2040 in February to help bring more businesses and development to the area. City officials also wanted to prepare for additional population growth.

In the past two decades, Oviedo has seen its population jump by more than 53% to over 40,000 residents.

Planned developments in the city include Brand Properties’ 297-unit Ellington at Oviedo Park mixed-use project across from Ovideo’s city hall and the 100-acre Oviedo on the Park mixed-use community.

Last month, Philadelphia-based multifamily real estate firm The Klein Company won architectural design approvals for its 300-unit Dwell at Oviedo apartment community next to Oviedo Mall.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 491-3357, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.


Advertisement