Equinox Development is prepping undeveloped land in Winter Springs to hold a new neighborhood marketplace located in the city’s town center.
The property spans about 9.95 acres on the southwest corner of S.R. 434 and Tuskawilla Rd., right across from the Winter Springs Town Center and nearby the city’s growing Greeneway Interchange District.
According to an application submitted the St. Johns River Water Management District, the developer is seeking to build about 58,500 square feet of retail and restaurant space across five or six buildings.
Equinox CEO Ryan Stahl told GrowthSpotter the firm is in the midst of getting city approvals and permitting the land. He said he envisions neighborhood-friendly retailers opening up shop in the marketplace, like a grocer and fitness studio.
The Maitland-based developer just completed the final of a series of four property takedowns with plans to develop a mixed-use project with luxury apartments and over 200,000 square feet of retail, restaurant and entertainment space.
CBRE’s James Mitchell and Cabot Jaffee are behind leasing efforts.
Stahl said he hopes to break ground by early next year. He adds the company plans to purchase the property in phases, with the first take down consisting of about eight acres of land.
Records show the current owners, Robbie and Edward Ondick, have owned most of the property since 1994.
In 2012, the city and the Oviedo-Winter Springs Chamber of Commerce put together a study outlining potential areas for development to help promote business retention and economic development programs in the area.
The property Equinox has under contract falls under a Town Center DIstrict designation, which promotes walkable mixed-use projects that provide opportunities for retail, office and professional spaces.
It’s close to the Greeneway Interchange District, where a number of developers are planning to build or have recently completed projects.
Currently, Lennar Homes is building out its 379-unit residential subdivision, Tuskawilla Crossing, which is comprised of single-family detached homes and detached bungalow units on lots ranging from 34 feet to 70 feet in width.
Plans for the community also includes a commercial component.
Equinox is also behind a mixed-use project between Disney’s Animal Kingdom and Margaritaville Resort, where the Maitland-based developer is planning up to 350 apartments, 250 hotel units and over 200,000 square feet of retail, restaurant and entertainment space.