By AMANDA RABINES
GROWTHSPOTTER |
MAR 04, 2022 AT 5:54 PM
More development is primed to take place around the Gateway Village Center in Orlando.
JBL Gateway 282 AB LLC, a company tied to the South Florida-based firm JBL Asset Management, just set in motion plans for new multifamily development west of Shadow Ridge Boulevard, just north of the Orlando International Airport.
The company is seeking city approvals to introduce up to 800 new apartments on about 20 acres it owns directly south of Airport Lakes Park and across its first multifamily venture in the area — the 323-unit Addison Gateway community that JBL partnered with ContraVest to develop.
In order for development to take place, the team is proposing to amend the comprehensive plan to modify the shape and size of the conservation land.
ContraVest President Steve Ogier told GrowthSpotter “there are wetland and soils that they are dealing with that affect the plan.” He adds ContraVest plans to be involved on the most recent plans like it was with Addison Gateway.
“We are looking to sign a deal with them,” he said. Meanwhile, Addison Gateway received its Certificate of Occupancy Friday with 88 units leased up, he said. Ogier said he expects to be complete by August.
` Records show CDP/NML Gateway LLC, tied to ContraVest, bought the development site in 2019 for $8.627 million.
ContraVest is behind several multifamily communities in the development stages throughout Central Florida. The developer is close to completing the 277-unit Addison Longwood apartments in Seminole County. ContraVest is also pursuing plans to build more apartments in Longwood, across from the former dog racing track.
Last year, GrowthSpotter reported the company was seeking to build another one of its Addison-branded multifamily communities along Binion Road in Apopka, called Addison Farms.
