Aloma Green's proposed venture was rejected but Roche has won its first green light from Seminole County commissioners to build Deep Lake, a planned 100-home subdivision at an estimated development cost of $8 million. However, elected officials haven't formally signed off on the project because residents are demanding more time to review the developer's plans, area brokers following the controversy tell GlobeSt.com.
"It looks like the same old story of last year when residents balked at a lower-priced townhome project being built near their more expensive residences," a Seminole County broker dealing in multifamily ventures tells GlobeSt.com. The townhomes are expected to be priced in the $120,000 to $200,000 range, area brokers tell GlobeSt.com.
The Roche Development project is planned on 19 acres, south of Aloma Avenue and west of the Central Florida Greeneway. Roche has contracted with Ryland Homes of Orlando to build the homes but the contract could be lost if the development doesn't break ground by year end, Roche officials have told the commissioners.
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