X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORLANDO-Holding firm to developer Beat Kahli’s original concept of a live-work-shop ambience at his 14-year-old, new-urban styled community of Avalon Park in east Orange County, county commissioners have cut a deal with the developer to make sure he creates sufficient light industrial space for the projected population of 13,000. The community’s residents now total 4,000.

Under the deal, Kahli gets an OK to build 1,000 more homes, or 209 fewer than he requested. The shelter component includes 631 multifamily units and 369 single-family residences. Kahli’s office tells GlobeSt.com home sales have been averaging 500 per year for the past several years.

In return, Kahli agrees to create 185,000 sf of light industrial space, a reduction from his original plan for 250,000 sf. The developer wanted to shave the industrial component to 5,000 sf.

Kahli tells GlobeSt.com he is pleased with the compromise. “What we worked out is just about the right mix” for the current development phase at Avalon Park. He says the town center buildout will take about six to seven years; the 4,800 shelter units, about four years. He adds the compromise still guarantees the venture will succeed.

“Only time will tell, based on the economy,” Kahli says.

Kahli has also agreed to build a new middle school and a vocational-technical center to be operated by Orange County Public Schools. The deal was reached at a public meeting Tuesday.

The 2,000-acre Avalon Park, initially conceived as a 9,000-acre mixed-use development, has been monitored by local developers as a model of new-urban development where residents are supposed to be able to work, live, shop and relax in a self-contained community.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.