Real Estate Inverlad Development is planning a mixed-use neighborhood on the west side of the Lake Formosa in the Ivanhoe neighborhood that would include a high-rise apartment building with more than 600 units and space for neighborhood retail as well. Currently the neighborhood is home to a variety of businesses, warehouses and artist studios. The new plan calls for denser development that will be a short walk to a Sunrail station.
The developer plans an architectural style that will offer a nod to the area’s industrial heritage with modern architecture blended with traditional elements from the neighborhood. The Orlando Municipal Planning Board approved the master plan in March 2015 and the project is moving through permitting.
Developer Chance Gordy said he has had several public meetings with project neighbors including tenants in the buildings on the site. Two existing tenants plan to move into the project's retail space, including The Thirsty Topher and The Venue, a rental and performance art space.
Location: 1427 Alden Road at Virginia Drive, between the railroad tracks and Philadelphia Ave.
Project Budget: In development
Height: Nine stories
Owner: Ivanhoe Place LLC
Developer: Real Estate Inverlad Development
Architect: Baker Barrios
Engineer: Littlejohn Engineering Associates
Number of apartments planned: 630
Neighborhood retail space: About 56,905 square feet
Parking spaces: Approx. 1,150
Start Date: Target, November 2015
End Date: Two years after start
General Contractor: Jack Jennings and Sons
Description: A mixed use development near Lake Ivanhoe