Prime Development Site In Downtown Orlando Sells For $9 Million
The buyer is planning on developing a mixed-use project on the site. This project will consist of a ground floor retail space with multi-family units built directly above.
The buyer is planning on developing a mixed-use project on the site. This project will consist of a ground floor retail space with multi-family units built directly above.
The proposed project include three buildings on vacant land on 234 acres at 4670 W. Orange Blossom Trail.
Blue Osceola Apartments, LLC, an affiliate of Miami-based Waterstone Capital, acquired the property from an undisclosed seller for $11.45 million.
The three purchases, with a combined total of 568 lots, closed on Friday, Oct. 1.
The 3.82-acre site is located adjacent to the University of Central Florida.
Other phases of the development will include a mixed-use tower with 550 Class-A apartment residences and a boutique hotel. Complementing the development will be retail and restaurant spaces, structured parking garage and a waterfront activity plaza with green space.
Palm Bay has grown to become the largest city in Brevard County with a population of nearly more than 111,000.
The 80-acre property is under contract.
The Land Advisors Organization’s Orlando team of Mike Ripley and Steve Flanagan, acting as a transaction broker, arranged the sale of the 17-acre parcel.
The project, dubbed Crossprairie, is slated to become the front door to over 30,000 new homes in the East of Lake Toho Conceptual Master plan area.
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