Where does it end? More apartments and retail coming to Maitland Concourse North

Related Group pays $10M for first 20 acres of Maitland Concourse North

Miami-based The Related Group paid $10 million on Wednesday for 20 acres along Maitland’s Lake Hope, where it could break ground next week on its first multifamily project in Greater Orlando, Maitland Concourse North, which will later be supported by 130,000 square feet of surrounding retail, potential office space and a hotel.

Located at 601 Trelago Way, the 20.1-acre parcel will eventually have direct access off W. Maitland Boulevard after future land acquisitions. The sale deed was recorded Friday morning in Orange County.

“As a Class A-plus apartment developer we like to seek those sites with a great story, urban infill, high barrier to entry, somewhere we can plant our flag to make an impact,” vice president of development Jeffrey Robbins told GrowthSpotter. “We have a site here that offers tremendous access to all points of the Orlando MSA, lake frontage, in the city of Maitland and easy access to I-4.”

Planned Development zoning for the overall 96-acre site — known as Maitland Concourse North — was approved in 2016 by the city. Related Group representatives filed Thursday with Maitland’s building department for site work construction permits, which remain under review by city staff.

Robbins expects to have that permit by next week and start the horizontal infrastructure work with Jon M Hall Company. The first phase of development will incorporate grading and infrastructure for the entire property, a joint-use retention pond in concert with the Florida Department of Transportation, and the 350-unit multifamily complex, which will consist of garden-style apartments and two-story townhomes.

The site work should run through end of December, with vertical construction expected to start in November on the apartments by general contractor Walker & Company.

The apartments should be complete in 18 to 20 months, Robbins said. Related’s affiliate TRG will manage the property.

Related sourced a $46.1 million loan from PNC Bank to help finance the acquisition and future development of Maitland Concourse North.

The seller was an affiliate of Winter Park-based Battaglia Group, which retained ownership of more than 45 surrounding acres along lakefront and W. Maitland Boulevard that will be sold in stages to Related Group and Pelloni Development, which will develop about 16 acres of boulevard frontage as retail separately, but in concert with Related.

Related Group is functioning as master developer for Battaglia on the entire site, which has about 60 developable acres. The compensation for that role was factored in as a discount on Related’s purchase price for the first tranche of land.

Pelloni’s 130,000-square-foot retail component is expected to include a mix of shops, dining and a specialty grocer. That developer has yet to file site plans with the city, staff said Friday.

Now that Battaglia has closed its first land sale with Related Group, it will take steps to finalize a land sale with Pelloni in the next six months as that developer pursues city approval of its retail site plans.

Battaglia Group is retaining ownership for the time being on parcels of 7.68 acres (office), 2.9 acres (hotel) and 5.77 acres (undetermined) for future sale or lease.

Humphreys & Partners is the multifamily project architect, Kimley-Horn is civil engineer, and ACi Inc. is architect on the retail.

Looking forward, Related Group is actively seeking more land acquisition opportunities in Greater Orlando for multifamily. With nothing under contract at the moment, Robbins said sites of less than 10 acres to 20 acres will draw interest, if they mesh with the developer’s criteria of urban infill, high barrier to entry and “tell a great story.”

Thank you: GrowthSpotter

Prior to opening their new location in Oviedo, Mission BBQ will hold a fundraisers for Fire Fighters, Police Officers and Military personnel.

Central Florida is welcoming Mission BBQ to Oviedo!

“The mission of Mission BBQ is to serve those who served” said Bill Leahy, Mission BBQ’s market partner for Florida. The first Mission BBQ opened on Septemeber 11th, 2011, exactly a decade after the 9/11 tragedy. Mission BBQ wanted to remind America what’s great about it – which they believe to be our military, our police departments and our firefighters.

On August 7th, 2017 Oviedo will welcome Mission BBQ’s 53rd location since 2011! The 3,500 square foot restaurant will have a fast, casual atmosphere, where patrons will walk through a line and order their food. Something Mission BBQ prides itself on is that ALL their food is homemade. Leahy said, “The food is all homemade and made from scratch, we do not have freezers or microwaves in our building.”

As part of the restaurants commitment to the military and first responders, they will be holding charitable events to raise money for nonprofits chosen by local law enforcement. According to Leahy, all proceeds will be going directly to the charities. Below is a list of the upcoming events:

 

  • Fire fighters Friends and Family Night (private party, invitation only): Wednesday, Aug. 2, 6-9 p.m., benefiting the Shane Kelly Memorial Scholarship
  • Police Officers Friends and Family Night (private p arty, invitation only): Thursday, Aug. 3, 6-9 p.m., benefiting the Oviedo Police Foundation
  • Military Appreciation Night (open to the public): Friday, Aug. 4, 6-9 p.m., benefiting the Special Operations Warrior Foundation
  • Grand Opening Day: Monday, Aug. 7, noon, with a live rendition of the National Anthem, followed by a ribbon-cutting ceremony. Doors open immediately afterward.

When asked about the growth of the restaurant Leahy said, “We are here to serve those who served, and we back that up with not just our words, but our resources and time. We will help them anyway we can. People respect that. It’s a labor of love. We work hard at it, and people seem to gravitate toward that.”

In addition to the company’s wonderful mindset, they will also be adding 50-55 jobs to the area. For more information on this article please click the link, or visit Mission BBQ’s website.

 

PDQ Restaurants Buys Old Bank Branch Site in Winter Park for 7th Area Location

An affiliate of Tampa-based fast-casual restaurant chain PDQ Restaurants paid $3.3 million recently to enter Winter Park, buying a long-time bank branch site that will be redeveloped as its seventh location in Greater Orlando.

Located at 925 S. Orlando Ave., the 0.82-acre property lies on the southwest corner with Minnesota Avenue, with a 37-year-old bank branch building currently occupied by Seacoast Bank.

PDQ Restaurants has applied to the city of Winter Park for a conditional use permit to build a new restaurant on the property. The property already has proper C-3 zoning, but a conditional use is required because of the drive-thru.

“We have done a lot of research over the years and felt that Winter Park was the perfect fit for PDQ Restaurants. It just took a little longer to find the best site,” company spokesman Jeff Kamis told GrowthSpotter. “The Winter Park site will be a planned tear-down of the bank building, with new construction for our restaurant.”

PDQ’s standard development is a restaurant of roughly 3,000 square feet, with a drive-thru and seating for 100.

The seller was Dr. Phillips, Inc., which previously paid $495,000 for the property and bank building in 1989.

John Fahey of Meridian Group and Cindy Schooler of SRS Real Estate Partners represented the buyer, while the seller’s listing agent was Alex Garcia, director of corporate real estate at Seacoast Bank.

PDQ opened its second Greater Orlando location in Clermont in early May, after buying a former restaurant site there for $2.13 million in June 2016. The company’s first restaurant in this region is in Sanford, on Rinehart Road.

The company is now building a new store in Lake Nona’s Lake Nona Landing retail center that should open in August, and is planning locations in Waterford Lakes near UCF, Altamonte Springs and Hunter’s Creek, Kamis said.

Short for “People Dedicated to Quality,” the PDQ concept is to serve fresh, never frozen chicken tenders and nuggets, as well as made-to-order salads and milk shakes. Salad dressings are made fresh daily as well.

PDQ was founded in 2011 by Outback Steakhouse co-founder Bob Basham and MVP Holdings CEO Nick Reader, the two principal owners.

The first store was in Tampa, and PDQ now has 56 locations throughout Alabama, Florida, Georgia, Nevada, New Jersey, North Carolina, South Carolina and Texas.

Thank you: GrowthSpotter

KPMG Breaks ground for construction on it’s $400 Million learning and innovation facility in Lake Nona to be completed by 2019.

KPMG has broken ground on a $400 million state-of-the-art learning development and innovation facility on 55 acres in Lake Nona, with intent to complete the project by the end of 2019. Plans for the complex include 800 guest rooms, an estimated 800,000 square feet of space for meeting, classroom, residential, dining and recreational facilities. The firm expects to add an approximate 330 jobs in Florida over the next 3 years as it’s business, audit, tax and advisory clients expand. In addition, there will be approximately 80 new KPMG jobs associated with operating the completed learning and development facility.

“I look forward to seeing this new facility and welcoming KPMG employees from across the nation to our great state,” said Florida Governor Rick Scott. Lake Nona is a “master-designed” community by Tavistock Development Company in Orlando. It is one of the countries fastest growing communities with over 12,000 residents and 10 million square feet of residential and commercial facilities.  A project time frame has been disclosed for the facility:

  • Summer 2017: Site grading
  • Fall 2017: Foundation work
  • Early 2018: Start of superstructure construction
  • Second half, 2018: Topping off
  • Late 2018: Building fully enclosed.

Thank You to KPMG for the update and news on this massive project.

 

Premier Senior Consultants purchase former Liberty Technical institute and plan to build Assisted Living Facility in Fern Park with 80 beds.

The Liberty Technical Institute that is located in Fern Park just south of Lowes was previously used to train nurses and other medical professionals.  Premier Senior Consultants of Winter Park has recently paid $2.7 million for the office park.  The new owners plan to renovate the interiors of the six large buildings and connect them all to create one spacious facility with 80 assisted living and memory care beds for senior citizens.

The company also plans to construct a new administration building on the property that will include a full kitchen.  Renovations are expected to begin by the end of the year and the facility is expected to open between the fourth quarter of 2018 and first quarter of 2019.