Family-owned construction and real estate development firm Gilbane Inc. is proposing to build a towering apartment complex in Altamonte Springs’ Uptown district.
Earlier this week, the company submitted plans seeking city approvals and bonus incentives to build out a vacant parcel of land fronting Cranes Roost Park at 182 Cranes Roost Blvd., directly east of the Embassy Suites by Hilton Orlando North hotel.
Conceptual plans consist of 346-unit multifamily development that will connect to a new six-level parking garage via a pedestrian bridge suspended above Uptown Boulevard.
The apartments will be situated in one multilevel building towering as high as 80 feet. The low-rise eastern portion of the structure will be kept to five floors with a rooftop deck featuring a resort-style swimming pool and firepit area, conceptual plans show.
An 18th-floor sky terrace is proposed on the taller portion of the building and features a fitness center, yoga room, media room and clubroom/lounge area. The ground floor of the apartment building consists of leasing offices, a package room, a game room, conference rooms and a 1,170-square-foot coworking cafe.
The parking garage will feature spaces for public parking as well as parking for the neighboring hotel.
Records show ATC Lakeside Dev LLC, a company tied to Harbco General Contractors Inc., owns most of the 3.75-acre site. The City of Altamonte Springs owns the 1.46-are lot where Gilbane is proposing to build the parking garage.
The multifamily development will rise on about 1.5 acres of land north of the city-owned lot. The remaining 0.82 acres (Lot 3) can accommodate a mixed-use development in a future phase.
Although Gilbane does include the parcel in overall plans, the company did not submit specific plans for Lot 3. Representatives did not respond to requests for comment.
According to city documents Lot 3 can feature up to 11,300 square feet of restaurant space, 8,700 square feet of retail space and 55,000 square feet of office space.
Interest in the city from local and out-of-state investors has increased, Frank Martz, Altamonte Springs city manager, told GrowthSpotter.
Earlier this year, Tennessee-based UP Development set in motion plans to redevelop a longtime vacant site in Altamonte Springs. Conceptual plans include building a widespread amount of multifamily buildings surrounding up to 22,400 square feet of proposed retail and office development at 798 West Town Parkway.
Last week, Equinox Development bought two old furniture showrooms at 754 and 770 S.R. 436 with plans to redevelop the site and build a new retail building and drive-through restaurants.