ORLANDO-Dallas-based Centex has passed the first hurdle in its planned Randal Park, a 712-acre mixed-use community. The development will consist of 1,870 single-family residences, townhomes and apartments; 350,000 sf of retail; 100,000 sf of office; a seven-screen movie theater; and 29 acres of public parks. City commissioners approved the conceptual plans.

The development site is just south of the BeeLine Expressway (State Road 528) and just east of the Central Florida GreeneWay (State Road 417). Final approval for the project’s planned development designation is expected by April, city hall sources tell GlobeSt.com.

City Hall sources didn’t have an estimated development cost of the three-neighborhood project and Centex officials couldn’t be reached by GlobeSt.com’s publication deadline. However, area construction sources who have participated in comparable large developments, tell GlobeSt.com the estimated development cost of the venture is about $250 million. The construction sources base their estimated hard construction cost on about $90,000 per unit for the residential component; $75 per sf for the retail part; $200 per sf for the office sector; about $5 million for the theater; and about $30 million for related infrastructure, utility and water hookup costs. About half of the 712 acres are in wetlands and can’t be developed, city planning staffers confirm for GlobeSt.com.

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