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ORLANDO-The new owners of the 2,900-acre International Corporate Park in east Orange County have a fresh plan to develop the almost dormant, 19-year-old property. They want the state and Orange County to approve the construction of 4,123 single-family homes, townhomes and apartments to complement the planned future development of up to 20 million sf of commercial and industrial space.

The only catch here is that the state and county weren’t initially asked to approve shelter projects when ICP surfaced in 1985, area industrial brokers intimate with the controversial project tell GlobeSt.com. The East Central Florida Planning Council, and state and county officials are reviewing the new development plans. However, real estate lawyers and brokers in a position to know tell GlobeSt.com unanimous votes from the various officials may be a difficult and time-consuming hurdle.

“What’s bothering some officials is that the original owner had promised he would create up to 40,000 new permanent jobs from various office and industrial projects but never followed through,” says a local lawyer familiar with the enterprise but not part of the hearings. “Now officials are wondering if they are looking at the same scenario, with a slightly different twist–that of developing shelter product along with the industrial product.” The park has been sold twice in the past 15 years.

The lawyer adds, “Officials can’t be faulted if they suspect a total 4,000 homes would be the dominant development component of this project, and not the office and industrial sector for which the park was originally created.”

The new owners could not be reached for comment.

In the largest industrial deal of its kind this year, Grosse Pointe Development Co. of Fort Myers, FL and Bouwfonds Property Finance Co. of the Netherlands paid Dallas-based Oakridge Investments Inc. $41.5 million, or $17,291 per acre, for International Corporate Park, as GlobeSt.com previously reported. The park is 12 miles southeast of Downtown.

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