HallDSi has another project in the news; February 21, 2019

Park Square partnership targets lot across a cemetery for new single-family homes

Amanda Rabines

Amanda RabinesGrowthSpotter

Orlando-based developer Khaled Hussein is teaming up with Park Square Homes to introduce a new single-family home community directly across the Chapel Hill Cemetery in east Orange County.

According to a recent Technical Review Group application filed in Orange County, Hussein is seeking to rezone four parcels of mostly undeveloped land directly east of Harrell Road from A2 to PD.

A majority of the roughly 17 acres is owned by a trust that lists Jacqueline M. Lloyd and Sheryl Meeks as trustees. Felix and Delfina Bon Pastrana own the remaining 4.6 acres just north of the Little Econlockhatchee River and the Little Econ Greenway.

Under the current zoning, the partners would be capped at one dwelling unit per every 10 acres. Park Square CEO Suresh Gupta said they’re looking to build 67 single-family market-rate homes.

AVCON Inc. is the civil engineer behind the project called Harrell Oaks. Hussein, of Cedar Engineering Consultants, was not immediately available to comment.

The property straddles Trevarthon Road and is near the S.R. 417 and East Colonial Drive interchange.

Surrounded by a small white fence, the Chapel Hill Cemetery to the propery’s left features a well-kept green field with neat rows of gravestone markers.

Though an unusual site to neighbor, the cemetery wasn’t a deal breaker for partners, who are known for taking on challenging projects.

In 2016, they partnered to close on a deal of land at 1021 S. Dean Road, ready for single family development — the catch being there was a sinkhole at the center of the property filled with 25 feet of muck.

The Harrell Oaks property also lies in east Orlando near the University of Central Florida, where a number of investors are actively re-positioning multifamily and student housing complexes.

One of the latest examples is Horizon Realty Advisors’ $65 million purchase of The Glenn apartments on University Boulevard. Last year, the company made its foray into Orlando when it bought the nearby 384-bed student housing complex dubbed The Quad.