Orlando poised to sell Orange Center Boulevard land to trust, making way for apartments and townhomes

March 22-- Mar. 22--A narrow strip on Orange Center Boulevard, where decaying apartments were demolished months ago, could become home to affordable two-story townhomes, apartments, shops and eateries.

The nearly 5 acres in West Lakes was one of Orlando's priorities in revitalizing the neighborhood and addressing a region-wide affordable-housing crisis. The city is poised to sell the land to the Hannibal Square Community Land Trust for about $1 million, if the City Council signs off on the deal at its meeting Monday.

The sale includes plans for 28 apartments -- 14 one-bedroom and 14-two bedroom -- as well as 30 townhomes and retail space. In all, 40 units will be eligible for homeownership.

"This is an area that is in transformation right now. We've seen great success with the Pendana project development and the senior housing is underway as well," Economic Development Director Brooke Bonnett said. "We see this project as the next step in this from the standpoint that it is providing an ownership opportunity, as well as infusing neighborhood retail in this community."

The townhomes have three bedrooms, 2.5 bathrooms and a two-car garage behind the home, each measuring 1,500 square feet.

Of them, 12 will be open to purchasers of any income bracket, while nine are set aside for those who make 80 to 120 percent of the area's average median income, while another nine are set for those making 50 to 80 percent of the average median income.

The apartments also have similar requirements: seven will be market-rate, 11 for households making 80 to 120 percent of the average median income and 10 for those making less than 80 percent of the median income.

Orange County's average annual wage was $48,198 in 2017, according to Career Source Central Florida, the group's most recent figure.

News of the city's selection was first reported by GrowthSpotter.

The Hannibal Square Community Land Trust was created in 2004, as a means of preserving homes in its west Winter Park namesake and keep prices affordable. The trust has 21 homes in the neighborhood and three vacant lots it plans to develop, executive director Camille Reynolds said.

In 2016, its board decided to expand efforts across the region and is involved in projects in Apopka and rehabilitation elsewhere in West Lakes with the West Lakes Partnership.

"The main thing we want to let people know is if you buy a home in a land trust, you still have the same rights of a regular homeowner," Reynolds said. "We want to keep the values from skyrocketing. Land is always going to appreciate, but we want to keep a level of affordability."

Reynolds said designs of both the townhomes and apartments aren't finalized, as the trust plans to have a series of community meetings to gain input from neighbors prior to finalizing plans that include open space between the units, a bodega-style grocery store with fresh produce, as well as other spaces that could have a coffee shop, deli or restaurant.

"We realized we have to do communities," Reynolds said. "We feel like that would give the residents some place to go with fresh produce because there is nothing there unless you have a car."

The land is on the south side of Orange Center Boulevard west of Tampa Avenue, and previously was home to Colonial Manor Apartments, Lakeview Apartments, Savoy Apartments and Bunche Manor Apartments.

Orlando purchased the properties for $700,000 in 2017 and demolished the blighted buildings earlier this year for $331,705.

If the trust's plan wins approval, Reynolds said it would work to receive zoning approvals to move the project forward this year.

Such urgency, as well as the land not needing further city investment and financing in place, was appealing to city officials, who chose the plan over proposals by five other developers. Others who bid on it were American Residential Communities, Cely Consulting/Votum Construction, InVictus Development LLC, Lift Orlando and RUFG/LLC/ONIC.

"We see them as being long-term investors in the neighborhood, which is important," Bonnett said.

Have a news tip? You can call Ryan at 407-420-5002, email him at rygillespie@orlandosentinel.com, follow him on Twitter @byryangillespie and like his coverage on Facebook @byryangillespie.

Please consider supporting local journalism by purchasing a digital subscription to the Orlando Sentinel. Click here to get one today.

___

(c)2019 The Orlando Sentinel (Orlando, Fla.)

Visit The Orlando Sentinel (Orlando, Fla.) at www.OrlandoSentinel.com

Distributed by Tribune Content Agency, LLC.