A joint venture behind a mixed-use project with apartments and commercial space in Altamonte Springs is still pursuing the project almost a decade after one of the partners originally submitted plans for the property.
Toronto-based Fieldgate Properties, Dallas-based Lantower Residential, and Tennessee-based UP Development are behind Park at Altamonte West. The plans call for 541 apartments, 10,400 square feet of retail, 12,000 square feet of office, and multiple restaurants at 798 West Town Pkwy.
The three companies jointly own the 41.5-acre property via a pair of entities called Koeisen Altamonte Holdings LLC and UP Fieldgate US Investments-Bradshaw LLC. UP Development Principal Scott Fish told GrowthSpotter that his company is involved in the project as a limited partner that is on the ground locally.
A site plan from engineering firm NV5 indicates that the commercial space will be in the center of the property, with multifamily buildings located to the north and the south. A pair of buildings, each with 5,200 square feet of retail and 1,300 square feet of restaurant space, will front West Town Parkway and sit adjacent to a pair of 6,000-square-foot office buildings. Additionally, a central road will lead to a pedestrian gathering plaza situated in front of a clubhouse, pool, and amenity/open space reserved for residents of the multifamily community.
The mulitfamily community will consist of a mixture of 16 three-story buildings and a single four-story building, with between 25 and 62 units per building. The clubhouse, pool, and apartment buildings will be located in a private, gated community.
Fish said that the three partners will build the residential and commercial portions of the project “under one umbrella” in a single phase. However, the project is still early on in the process.
Hunter Webb, Executive Vice President at Lantower, said it was too early to determine an exact groundbreaking date for the project.
Architecture firm FK Architecture and landscape architect Innovations Design Group are also working on Park at Altamonte West, which is set to go before the Altamonte Springs Development Review Committee on Feb. 26. Winter Park-based Alexander Investments International, which provides financing for the development of commercial properties, is also included in application materials.
The property was once home to a cannery factory, which closed down in the early 1980s. Once the factory closed its doors, the land was converted into a nine-hole golf course. However, the golf course closed down in the 1990s, and the property has been vacant ever since.
An entity associated with UP Development purchased the land in 2013 for $3.5 million. Fish then filed plans for a Walmart Supercenter on the property in 2016, but the project never came to fruition.