HDSi new neighborhood moves toward development; February 14, 2020

Plans call for up to 152 single-family homes west of Plymouth-Sorrento Road and east of SR 429.
Plans call for up to 152 single-family homes west of Plymouth-Sorrento Road and east of SR 429. (The BurnBrae Companies)

Homebuilder D.R. Horton is expanding its footprint in Apopka with the acquisition of Bridle Path, a 152-lot subdivision in the Kelly Park Road overlay.

The BurnBrae Companies, a real estate investment, development, and management company headquartered in Washington, D.C., assembled the 51-acre site and entitled the property last year, making Bridle Path one of the first single-family home community within the Kelly Park Interchange Form-Based Code area — a district created by city officials to help drive future development and economic activity to the city.

The once sparsely developed region is roughly halfway between the downtowns of Apopka and Mount Dora.

The purchasing entity, Forestar Real Estate Group paid $4.18 million for the project. Forestar is a land holding company for D.R. Horton.

Land Advisors Organization’s Orlando team of Mike Ripley and Steve Flanagan acted as transaction brokers for the sale.

The approved site plan, led by Jim Hall of HallDSi, for Bridle Path shows a mix of 50- and 55-foot lots. Amenities include a pool and cabana.

The community will have road connections with a proposed 50-acre subdivision immediately to the south. Orlando Beltway Associates is seeking approval for 140 single-family homes and about 60 townhomes; also a HallDSi project. The conceptual site plan shows a minimum lot width of 40 feet and 20 feet.

The developments are among the first to rise near the Kelly Park Road interchange — one of four interchanges opening in part of the $1.6 billion, 25-mile Wekiva Parkway project that will complete the beltway around northwest metropolitan Orlando.

The expressway was designed to provide an alternative to I-4, and relieve U.S. 441, S.R. 46 and other area roads of traffic congestion.

HallDSi leads Marriott World Center Expansion; February 6, 2020

A rendering of the newly proposed meeting space at the Marriott Orlando World Center hotel.
A rendering of the newly proposed meeting space at the Marriott Orlando World Center hotel. (DLR Group)

The world’s largest Marriott hotel wants to get even bigger.

Bethesda, Maryland-based Host Hotels & Resorts, the owners of the 200-acre Orlando World Center Marriott hotel, just submitted plans in Orange County seeking to add 60,000 square feet of meeting space and an aquatic park with three new slides.

The 2,009-room resort at 8701 World Center Dr. already features 450,000 square feet of event space as well as two 200-foot waterslides and one 90-foot speed slide at its main pool-area, Falls Pool Oasis.

A conceptual site plan shows the additional meeting space will extend southward from the hotel’s current exhibit hall. The undertaking would require encroaching onto World Center Drive and some golf course fairways, meaning the developers would have to construct some new roadway and golf cart paths.

A conceptual site plan of the 60,000-square-feet of new meeting space and new aquatic park at Marriott Orlando World Center.
A conceptual site plan of the 60,000-square-feet of new meeting space and new aquatic park at Marriott Orlando World Center. (Orange County)

Meeting room spaces are divided into eight rooms roughly 3,600 square feet each.

The submitted plans also depict a new water park with a lazy river component. Slides mentioned in plans include an Aqua Sphere slide, a Boomerango waterslide and a waterslide with a tailspin element.

The waterpark would rise around the resort’s current health club and spa, plans show.

Jim Hall of HDSi is the planner for the expansion.  Brad Barneson of the Atlanta-based development services firm, The Hardy Group, is representing Host Hotels in the project. DLR Group is the architect and Richard Lis of Harris Civil Engineers is the civil engineer.

In 2015, the owners embarked on a $4.5 million renovation plan that called for upgrading and expanding its function space and revamping its 8,400-square-foot spa building.

Representatives at Host Hotels were not immediately available to comment.

Amenities at the Orlando World Center Marriott hotel include the 18-hole Hawk’s Landing Golf Club golf course, a luxury spa and fitness center, and nine restaurants and lounges.

In recent months, GrowthSpotter reported on another proposed development within the Marriott World Center Planned Development area. Developers were looking to entitle a 2.35-acre site at 14344 S.R. 535 with a mix of office, retail and restaurant uses.

The Grow Coming to Fruition; January 23, 2020

THE GROW
MITIGATING THE EFFECTS OF LARGE SCALE PROJECT IN EAST ORLANDO
Orlando, Florida (January 14, 2020)

Orange County Commissioner Emily Bonilla has long advocated for the protection of rural land. In 2016, a developer proposed a large scale development in the rural settlement area of east Orange County. Before coming to office, Commissioner Bonilla began advocating for conserving the settlement area, and she continued this cause once elected as District 5 Commissioner. This controversial development was appealed and made it to Governor Rick Scott and his cabinet, who granted final approval in favor of the development.

Once the project was approved, Commissioner Bonilla set her sights on ways to mitigate the effects of this development on an already strained road system. The issue came into full swing when FDOT failed to advance a project widening State Road 50, which proponents for the development thought would alleviate the failing road system in that area. Although the Central Florida Expressway Authority and the Florida Turnpike may advance projects to expand State Road 50, the projects are on hold due to funding.

“It was tricky because the development was already approved, so there was no way to stop it from coming. Now I had to put all my effort into finding ways to mitigate the effects to the failing roadway,” said Commissioner Bonilla. “I am happy to have had the cooperation of Derek Bruce, representing The Grow applicants, and Jon Weiss and staff at Orange County. They have been instrumental in incorporating the terms of this agreement to help meet the expectations of the community.”

As the saying goes, when there is a will, there’s a way, and that way was paved at this Tuesday’s Board of County Commissioners meeting when the board approved a Roadway Network and Mitigation Agreement. Based on the current payment schedule in the agreement, the developer will pay $26 million by 2024. The county will allocate the funds to mitigate the impacts on the surrounding roads impacted by the development.

“My next step is to invite the community to a meeting where we can propose various projects to apply these funds,” said Commissioner Bonilla. “I want to ensure that we hear our citizens and that we are building the infrastructure to handle the new incoming east orange residents.”

HallDSi is the community planner for the original approvals and the continued permitting.

New residential community in Apopka for DR Horton; December 19, 2019

An aerial view of the planned residential project across from Orlando Health's envisioned medical campus in Apopka.
An aerial view of the planned residential project across from Orlando Health’s envisioned medical campus in Apopka. (Orange County Property Appraiser/GrowthSpotter)

Orlando Beltway Associates is trying to successfully pass off plans for the remaining roughly 50 acres of land it owns within Apopka’s Kelly Park Interchange Form-Based Code area.

According to the most recently submitted site plan, the company is looking to rezone the property to allow for a residential development that will feature a mix of townhomes and single-family homes.

The plans come about year after Orlando Beltway Associates sold the land across from the site to Orlando Health. The property at 5401 Effie Dr. sold for about $2.34 million. Prior to the closing, the hospital announced it envisioned building a medical campus that would serve communities in both Apopka and Mt. Dora.

Plans for the lot to the east call for about 140 single-family homes and about 60 townhomes. The conceptual site plan shows a minimum lot width of 40 feet and 20 feet.

Because the site falls within the Kelly Park Interchange District, developers are required to rezone the land to a Mixed-KPI zoning before receiving any development approvals from the city.

The site is also located within the KPI Transition Overlay District, which is intended to provide a buffer between the higher density projects to the south. Developments there are permitted residential densities between five dwelling units per acre and 10 dwelling units per acre.

The zoning amendment went before Apopka’s Development Review Committee last week.

City planner and project manager Bobby Howell told GrowthSpotter the request for the Orlando Beltway East project did not move forward with approvals. The developer must therefore resubmit plans and address some outstanding staff comments, he said.

Orlando Beltway Associates banked the land in Apopka almost 30 years ago in anticipation of a future Orlando Beltway. The company is led by Full Sail University founder James “Bill” Heavener, real estate developer Patrick Morley and Chuck J. Mitchell Jr., CEO of First Capital Property Group.

VHB is the project engineer, along with consultant Jim Hall. The site plan shows the community will link to a neighboring residential subdivision to the north called Bridle Path. The BurnBrae Companies, a real estate company headquartered in Washington, D.C., planned the 150-lot residential subdivision.

The developments are among the first to rise near the Kelly Park Road interchange — one of four interchanges opening in part of the $1.6 billion, 25-mile Wekiva Parkway project that will complete the beltway around northwest metropolitan Orlando.

The expressway was designed to provide an alternative to I-4, and relieve U.S. 441, S.R. 46 and other area roads of traffic congestion.

South Lake Crossings zoning approved; November 22, 2019

Clermont has approved and annexed the 743-acre Wellness Way Planned Unit Development that will bring over 2,000 new homes and apartments to South Lake County.
Clermont has approved and annexed the 743-acre Wellness Way Planned Unit Development that will bring over 2,000 new homes and apartments to South Lake County. (HDSi/VHB)

Homebuilding giant Lennar is under contract for the residential portion of a massive Wellness Way mixed-use community in South Lake County that’s entitled for 1,850 residential units.

Clermont’s City Council unanimously approved the annexation, future land use and master plan this week for the 743-acre South Lake Crossing district across U.S. 27 from Lake Louisa and just northeast of the planned Olympus sports-themed community.

“We’ve got a lot of work to do putting in roadways and utilities, but the important thing is we can get started now,” said Jim Karr, a member of the ownership group.

The residential portion of the community is approved only for detached single family homes and townhomes, and it includes two gated neighborhoods. The lot widths range from 18 feet wide for the townhomes up to 70 feet wide for the detached single-family homes. The PUD identifies a 10-acre amenity site on Wellness Way, as well as numerous public and private parks.

“This will be an opportunity to participate in a regionally significant master plan, which is appealing for us,” Lennar Orlando Division President Brock Nicholas said. “We respect our land seller’s experience in Central Florida, and their poise while doing complex deals.”

The master plan designates 102 acres west of Hancock Road as Employment Center, a land use category that allows for a mix of offices, commercial and all types of residential development. The plan would cap the number of apartments at 350 units.

The project also designates 18.8 acres for neighborhood commercial uses, which include a grocery-anchored retail center and other complementary retail uses, for a max of 140,000 square feet.

By Jerry Stockfisch

Clermont City Manager Darren Gray said city and county leaders have been working with the ownership group for two years to ensure the project moves forward at the right time. “South Lake Crossing is a massive mixed-use project with a substantial combination of residential and commercial development planned, including half-a-million square feet of office space,” he said. “This means many more opportunities for jobs, shops and restaurants in Clermont. Our economy continues to grow and our future is bright as we strategically expand south in the Wellness Way area.”

Karr said his company would keep all of the land west of Hancock Road, which entitled for commercial and employment use while selling the 469 acres approved for residential development to Lennar. The ownership group is in discussions with potential buyers for portions of the employment center tracts, but there are no firm deals yet.

“We’ve got a lot of irons in the fire now, and it’s all just starting to come together,” Karr said.

The PUD reserves 15 acres for a future charter school and 1.5 acres for a new fire station. But Karr said virtually all of the nonresidential uses would likely come after the first rooftops.

“Lennar is the big dog that will drive this project,” Karr said. “The contract is structured as two takedowns – with half the units in each phase. They’ll close on the first one when it’s ready to break ground.”

The next step will be to file preliminary subdivision plans, Karr said. The land planner and civil engineer is VHB, along with HDSi (Hall Development Services ) as planning consultant. Shutts & Bowen is legal counsel.

Lennar submitted examples of housing product types for the townhomes and various lot sizes, but Nicholas said it was still early to discuss the development program specifics.

“There are a number of important infrastructure design and engineering steps yet to be accomplished, but there are smart, capable folks involved at the city and as neighboring landowners to cooperate and bring the plan to life,” he said.

The South Lake Crossings mixed-use district is outlined in yellow. It abuts the 243-acre Olympus planned development.
The South Lake Crossings mixed-use district is outlined in yellow. It abuts the 243-acre Olympus planned development. (Clermont)

The mostly rural U.S. 27 corridor of South Lake County is quickly filling in the development gaps between the Cagan Crossings area in Four Corners and downtown Clermont. Adjacent to the Wellness Way PUD, Olympus Sports & Entertainment Group owns 243 acres at U.S. 27 and Schofield Road.

Plans for Olympus call for up to 1,312 hotel rooms; 805 townhomes; 614 apartment units; 155,642 square feet of office space; 360,358 square feet of retail space and 345,283 square feet of medical office space that will feature spa services and holistic programs as well as centers that provide orthopedic injury diagnosis, rehabilitation services and physiology, nutrition and conditioning programs.

Meanwhile, the city has annexed the 55-acre corner tract, called “Clonts Corner,” and entitled it for up to 600 multifamily housing units and 152,000 square feet of commercial uses.

Karr said all of the landowners and developers will share the cost of building Wellness Way. “All of those areas need to be developed, because they all contribute right-of-way and impact fees,” he said.

The Central Florida Expressway Authority is also moving forward with plans for the Lake-Orange Connector, a new toll road south of Wellness Way that will connect S.R. 429 and Horizon West to U.S. 27 just south of Lake Louisa State Park.

Graves said the toll road is part of a larger road network that will improve circulation in the Four Corners region. “We’ll also be looking at two north-south roads – Hancock Road going south, which is a part of this project, as well as extending County Road 455 south.”

 

Round-abouts are the Safer Alternative; November 21, 2019

Are roundabouts really safer than traditional intersections?

By Star Tribune

By next summer, a new roundabout will replace a traditional a traffic signal at a busy and often congested intersection in downtown Prior Lake, and Lois Kocon isn’t convinced it will make things any better.

“It makes me anxious,” said Kocon, who lives near the new circular interchange that is being built by Scott County and two other agencies on Hwy. 13 and County Road 21. “You are at the mercy of the person to your right. A lot of people are concerned how that will work. Is it going to solve a problem? Will it make the problems worse?”

Kocon wanted to know if roundabouts really deliver the safety and traffic flow benefits that experts say they have. So she asked Curious Minnesota, the newspaper’s community-driven reporting project, to find out.

With only about 5,000 roundabouts on the nation’s roads — making them still somewhat uncommon — it’s natural that drivers might consider them confusing. But Jim Brainard, the mayor of Carmel, Ind., is a big proponent of them. He spent time studying law in the United Kingdom and marveled at how efficiently traffic flowed through them. In 1996, he brushed off ridicule and brought the first roundabout to Carmel. Now with 126 of them, the city just north of Indianapolis is virtually traffic light free and unofficially known as the “Roundabout Capital of America.”

“I’m responsible,” he proudly says, touting the results that have come with them. Property-damage crashes at Carmel’s roundabouts are down 40%, and crashes with injuries have dropped by 75%. Insurance rates have dropped, and drivers have saved gas with less stopping and idling at traffic signals.

Results in Carmel mirror what has occurred nationally where the Federal Highway Administration (FHWA) and the Insurance Institute for Highway Safety have found a 37% decrease in total crashes and a 75% drop in crashes resulting in injuries when compared with traditional signalized intersections. Fatal mishaps dropped by 90%. Wrecks involving pedestrians declined 40%, the data found.

More than 10,000 motorists died at intersections in 2018, according to the FHWA, and fatalities often resulted from head-on, right-angle or T-bone crashes in which another driver ran a red light or was making a turn. Roundabouts have a favorable safety record because motorists are generally moving in the same direction and traveling at slower speeds, said Joe Gustafson, a traffic engineer with Washington County Public Works Traffic Operations.

It’s not that crashes don’t happen, but they are more likely to be low-energy sideswipes or rear-enders that tend to bring less serious consequences, he said.

“You are generally cleaning up glass and not blood,” he said.

Traffic flow has improved, too, Gustafson said. When the intersection of Manning Avenue and Hwy. 96 was governed by a four-way stop, it was not uncommon for quarter-mile backups to develop weekday afternoons on Manning. After the roundabout opened in 2016, “those backups went away completely.”

That’s been the case at several of the other 17 roundabouts in the county where there will be 21 by next year, Gustafson said.

Alleviating congestion in downtown Prior Lake is the major driver behind the construction of the roundabout on Hwy. 13 and another one nearby, said Scott County engineer Tony Winiecki.

When approaching a roundabout, drivers should yield to traffic already in the circle, then enter when there is a gap. When approaching a roundabout with two lanes, a driver who wants to exit to the right should pick the right or outside lane. Drivers who need to make a left turn should choose the left or inside lane. Drivers going straight can choose either lane. When entering a two-lane roundabout, drivers should yield to traffic in both lanes, Gustafson said.

The biggest mistake, mostly at roundabouts with two lanes, is “drivers treat them like merging onto a freeway and that they should never stop at the entry,” Gustafson said. “They need to wait at the entry until traffic is clear.”

Though some drivers are still apprehensive about roundabouts, concerns and anxiety generally go away — or at least way down — after they drive or walk through them, said Jeff Shaw,Intersections Program manager with FHWA. In Prior Lake, officials next spring plan to hold educational events to demonstrate how to navigate a roundabout.

“You see a complete 180,” Shaw said. “That was not so bad, people say. Our focus is on saving lives and this one does a remarkable job. We are encourage states to use them as often as we can.”

Washington County has been a leader in Minnesota in roundabout education and developed an outreach program to educate drivers called Roundabout U.

Roundabouts across the country are appearing at a rapid pace. Wisconsin has the most roundabouts with 432, and Minnesota, with 252, ranks in the Top 10 nationally.

The roundabout at Hwy. 13 and County Road 21 to be completed by July 2020 is anticipated to reduce traffic delays by 85%, and crashes resulting in serious injuries are expected to drop by 75%, according to Nicole Schmidt, a project spokeswoman. Those are numbers Brainard said should allay Kocon’s fears.

“She will be a lot safer as a driver,” he said “She will learn to love it.”

HDSi Leads New Apartment Project and Developer

An aerial showing the site plan for EDEN Stoneybrook, a 250-unit multifamily community
An aerial showing the site plan for EDEN Stoneybrook, a 250-unit multifamily community (Orange County Property Appraiser/EDEN Multifamily/GrowthSpotter)

Coconut Grove-based development firm Eden Multifamily is moving ahead with plans to build 250 apartments on part of the Stoneybrook East Golf Club in east Orlando.

The multifamily developer scored the necessary approvals from Orange County’s Development Review Committee on Wednesday lead by Jim Hall at HallDSi.

Late last year, the developer submitted a Land Use Plan application in Orange County seeking allowances to carve out about 14.5 acres of the Stoneybrook Planned Development so it may create its own.

The property at 2900 Northampton Ave. sits along South Alafaya Trail. The multifamily community is being planned to rise south of the golf course’s ninth hole and west of the clubhouse.

A community meeting about the project, dubbed EDEN Stoneybrook, was held in January. More than 350 area residents attended.

According to Technical Review summary report, the reaction to the request was generally negative with concerns raised over the impacts to the nearby residential neighborhoods.

Since then, Eden has worked with county officials to revise the plans and adjust the buffering scheme between buildings and the residential properties to the north of the development.

This would be the development team’s first project in the Orlando market. The firm is also working on delivering a multifamily community in Port Orange next to Daytona Beach.

The property along Alafaya Trail is currently owned by an Pennsylvania-based entity Sbegg LLC. The company purchased the entire 193-acre site in 2010 for about $1.95 million.

Plans goes before Orange County’s Planning and Zoning Commission on Thursday. Its Alafaya Apartments PD is set to go before the Board of County Commissioners in November.

A conceptual layout of EDEN Stoneybrook
A conceptual layout of EDEN Stoneybrook (EDEN Multifamily)

According to Eden Multifamily’s website, the developers are aiming to break ground by the first quarter of next year.

Nearby, Orlando developer Dustin Lucas is redeveloping a brownfield site at 4450 Innovation Way to feature 350 multifamily units and 110,647 square feet of industrial space that will include self-storage use.

Both projects sit near neighborhoods like Waterford Lakes and Avalon Park.

HDSi leads planning for new Unicorp mixed use project; Spetember 4, 2019

Unicorp closes $49M deal for O-Town West land and preps for construction

Unicorp closes $49M deal for O-Town West land and preps for construction
Unicorp National Development is in discussions with a Fortune 500 company to move its headquarters to The Boardwalk at O-Town West. The tenant would lease 250,000 square feet of office space. (Unicorp National Developments)

Two titans of Orlando real estate closed the most expensive land sale of the year on Thursday as $49 million changed hands for the 76 acres in Orlando’s tourism corridor that will be the home of O-Town West.

Seller Daryl Carter told GrowthSpotter it was the final piece of a nearly 200-acre assemblage he began putting together in 2005, and it brings the total sell out price of the acreage to $131 million. Carter is president of Maury L. Carter & Associates.

“It’s been a vision I’ve had for 10 years,” Carter said. “It’s been a lot of work. A lot of blood, sweat and tears. The property is now going to be in the hands of a world-class developer. I’m a very good land guy, but I’m not a world-class developer. Chuck Whittall is.”

Whittall’s Unicorp National Developments has approved plans for a massive mixed-use development that combines over a 1,500 residential units with retail, dining and office space divided among four sub-districts: Village at O-Town West, The Crossings at O-Town West, the Town Center at O-Town West and the Boardwalk at O-Town West.  Hall Development Services inc lead the planning and entitlement process with a team of Kimley Horn and VHB.

The Village at O-Town West will have 80,000 square feet of commercial space and nearly 850 apartments on site.
The Village at O-Town West will have 80,000 square feet of commercial space and nearly 850 apartments on site. (Unicorp National Developments)

Whittall said Unicorp will break ground in 2020 on the residential and retail components of the project. Those include a mix of mid-rise garden-style apartments, lofts, a single-family urban neighborhood and townhomes.

“The apartments and all the retail will be in Phase 1 and then the boardwalk is Phase 2, which includes the water feature,” Whittall said. “We’re building everything in January, we’ll start everything except for the boardwalk. At the boardwalk, we’re negotiating with an office tenant for 250,000 square feet. And so if we get that deal secured, then we’ll start the boardwalk.”

Whittall said Unicorp would move its offices to the boardwalk, but the timing on the project is largely contingent on the lease-up of the balance of the office space.

“It’s a corporate headquarters. And then we’re going put our corporate headquarters there. We’re going to build a hotel there, as well. We’re going to do a Zen Hotel, our own brand – like Zen apartments. That’s the boardwalk, so that’ll really be kind of like Phase 2.”

The O-Town West mixed-use development is composed of four districts and spread over 76 acres. The $49 million sale price is the highest paid for land in Central Florida this year.
The O-Town West mixed-use development is composed of four districts and spread over 76 acres. The $49 million sale price is the highest paid for land in Central Florida this year. (Unicorp National Developments)

Thursday’s transaction surpasses the largest land sale to date – the $40 million Edgewater sale to BTI Partners – which closed one day earlier.

This was the first of four successive closings, totaling $100 million, scheduled for Unicorp over a two-month period, culminating with the purchase of Orlando Fashion Square for $23 million. Whittall said the company helped finance the O-Town deal with proceeds from the sale of its Drake Midtown Apartments at Griffin Farms Town Center in Lake Mary. That property closed on Wednesday for $67.75 million to a real estate fund operated by Deutsch Bank. The other land buys include Celebration Pointe at Disney’s World Drive interchange and a retail parcel in Horizon West.

“We’ll probably build the Disney project, the Horizon West project and O-Town during the year of 2020, and we’ll finish those all in 2021,” Whittall said. “And then I would imagine, we would start Fashion Square, if we make the deal with Bancorp, at the end of 2021. So we pretty much have our 2020-2021 pipeline filled, but we’ll be looking for more things for 2022.”

For Carter and his team, it’s time to celebrate. He plans to take his entire office on a mini-vacation to dinner and a theme park. “It’s a huge deal,” he said. “None of it happens without the team – the pit crew.”

HDSi Working on Apartment Project with Crescent; August 21, 2019

Crescent Communities begins prepping site near Sea World for multifamily development

Crescent Communities begins prepping site near Sea World for multifamily development
Crescent Communities is looking to develop 18 acres of land that sits parallel to I-4, just north of Lake Willis. (Orange County Property Appraiser/GrowthSpotter)

Charlotte, North Carolina-based Crescent Communities has about 18 acres of land under contract just north of Lake Willis as part of efforts to expand its recently launched NOVEL multifamily brand in Orlando’s tourism corridor.

Tim Graff, a managing director at Crescent Communities, oversees sourcing new multifamily development opportunities throughout Florida. According to an application recently filed in Orange County, Graff is working with the property owner, Marriott Vacations Worldwide, to convert the land’s current use from timeshare and commercial to multifamily.  Hall Development Services, inc. is the community planner seeking the entitlement amendment.

The land has been owned by Marriott Vacations Worldwide for more than two decades. It’s part of a nearly 80-acre development site called Interstate 4 Plaza.

Marriot Vacations Worldwide acquired the land in 1997 from the late real estate developer Wendell “Jock” Spears. Since then, it developed the 312-unit Marriott’s Harbour Lake resort at 7102 Grand Horizons Blvd. and sold the northernmost parcel at 11000 Westwood Blvd. to CNL Hospitality Properties in 2000 for $3.4 million. The company went on to develop what is now the Residence Inn by Marriott Orlando at SeaWorld.

Crescent Communities is looking to entitle some 17.7 acres of land north of Marriott’s Harbour Lake resort to accommodate up to 360 apartments.
Crescent Communities is looking to entitle some 17.7 acres of land north of Marriott’s Harbour Lake resort to accommodate up to 360 apartments. (Orange County)

According to the filed Land Use Plan, Crescent Communities is looking to entitle some 17.7 acres of land straddling Grand Horizons Boulevard, parallel to I-4, to accommodate up to 360 apartments.

The site sits across from the former Marriott Grande Pines golf course, where Park Square Homes is developing more than 400 new vacation homes. Other developments in the pipeline include, AdventHealth’s newly proposed emergency building just north of Pulte Homes’ Overlook at Ruby Lake development by the Daryl Carter and Palm parkway intersection.

Last week, GrowthSpotter reported plans by the Altman Companies to develop roughly 34 acres of land located next to where O’Connor Capital Partners is building out its 70-acre Vineland Pointe shopping plaza, into a new 567-unit apartment complex at 10055 Almondwood Circle.

Crescent Communities is known for its luxury apartment developments. In Orlando, it is behind the $75 million Novel Lucerne mixed-use building, which hosts the downtown area’s first Earth Fare grocer. Built in 2018, the mixed-use project features 375 market-rate apartments with an amenity package that includes a fenced dog park, art gallery and 24-hour fitness center that over looks a resort-style pool and pool courtyard.

Crescent Communities is also eyeing a site on Narcoossee Road for a third NOVEL-branded community in Southeast Orlando called “NOVEL Nona.”

The company introduced its NOVEL by Crescent Communities brand identity in 2017 for its multifamily communities. Its development portfolio consists of more than 60 single-family communities, 55 multifamily projects and more than 20 million square feet of commercial space, according to its website.

TOD increasing Rail Station Real estate Values; August 14, 2019

SunRail boosted property values around stations by $2.4B, study says

SunRail boosted property values around stations by $2.4B, study says
This chart provides a picture of how the station area property values have grown over time. From 2011 to 2017, property values grew 23% faster in the station areas (blue) than in the control areas, providing a strong indication that SunRail has contributed to the rapid property value growth in the station areas. (Florida Department of Transportation)

A new study commissioned by the Florida Department of Transportation has confirmed what local transit enthusiasts have promised: SunRail is proving to be a good investment.

Property values around the first 12 stations increased by $2.4 billion (63 percent) from 2011-2017, and FDOT estimates that $1.19 billion of that is directly attributable to SunRail. Each station has drawn new development, and most experienced a sharp increase in property values that outpaced their surrounding areas by nearly 23 percent.

The research team from Florida State University first analyzed the property value impact of SunRail in 2015, but at that time, the system had only been operational for two years. Now, with three more years of data, the team determined that property values in the station areas are escalating at a higher rate as the system matures.

In 2016, for example, the station area property values grew at twice the rate as their surrounding neighborhoods. Last year the station area values grew at seven times the rate of the comparable neighborhoods.

“In this way, SunRail has provided promising indications that it may continue to spur development and boost local property values in the coming years,” it found.

Investment and appreciation around the stations has generated $18 million in taxable revenue for the local jurisdictions. But higher property values haven’t always translated to increased revenues because so much of the property around the two hospital stations is tax exempt.

Like its companion ridership study by MetroPlan Orlando, the property value analysis did not take into account the SunRail’s southern extension, which opened this past summer. It also doesn’t count new Transit Oriented Development projects until they come on the tax roll, so major projects like Maitland Station Apartments are not included.

The Church Street station area ranked first system wide with a 125-percent increase in property value over the seven-year study period. But that number was buoyed in 2012 by the opening of Amway Center, which accounted for $275 million of the $333 million in new property value for that year.

The overwhelming majority of new value — 95 percent — has been centered around the Orange County stations. The five station areas in Seminole and Volusia counties gathered a combined $102.1 million in property values, with a decline of $543 thousand in the Altamonte Springs station area.

The suburban stations, while not experiencing the massive influx of new development seen in downtown Orlando and Winter Park, nevertheless saw “notable shifts in development patterns” away from single family homes to multifamily and mixed-use apartments.

Copyright - Hall Development Services Inc. 2018