James Doran Group of Orlando plans to break ground in February on the first of six buildings totaling 90,000 sf of retail and office. Another 40,000 sf would be started by year-end. A 44,000-sf, estimated $2.2 million Publix Supermarket would be one of the anchors at Market Square, the planned town center's commercial side.
Magnolia Square, comprised of a central park on Lake Jessup, would complement the commercial component. The city has a $5 million state grant it has been sitting on since 1998 to pay for land that will make up the five interconnecting parks.
Loft apartments or condominiums are not in the initial plans filed with the city of Winter Springs but could be incorporated later into the master plan for the project, city officials tell GlobeSt.com.
Doran Group officials could not be reached at GlobeSt.com's publication deadline to learn more details and costs of the venture. But area industrial and retail brokers familiar with comparable projects tell GlobeSt.com on condition of anonymity the first-phase buildings will be going up at about $50 per sf.
Besides retail, office and possibly future residential, the town center concept will comprise Winter Springs High School, Winter Springs City Hall and Central Winds Park, all west of the commercial side of the project.
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