17-92 in Winter Park becoming lucrative

A 1942 west Winter Park building, which was re-purposed as a dry cleaner on U.S. Highway 17-92, sold for $472 per square foot.

The one-time tourist strip, overshadowed in the 1960s by Interstate 4, has recently drawn big-name chains including and

“A lot of it is older, obsolete, with a lot of mom-andpops,” said John Krzyminski, who with Max Krzyminski and Josh Korshak represented seller

purchased the cleaners at 220 N. Orlando Ave., for $2.1 million.

In a similar sale several months earlier,

at 610 W. Fairbanks in Winter Park, which was built in 1959 and later renovated, fetched $580 a square foot in August. The average cost per square foot in Orange County sales during the first quarter was about $140, according to Orlando Regional Realtors Association. directed by Eli Melamed, purchased 4.74 acres on Lake Shadow near Maitland Center at 473 S. Keller Road for $1.35 million.

Partner Paul Partyka represented the seller, Loretta Nicholson.

Built this year at 990 Warehouse Road, Orlando, the gated Elan Audubon Park apartment complex sold for $97.1 million.

secured $65.7 million in financing for

purchase of the 449-unit property. financed a five-year loan.

Lusant Ordonez, cofounder of Lake Mary-based

said construction labor shortages have edged up prices and pushed back the delivery of mechanical, electrical and plumbing systems by two to three weeks.

“In addition, impact fees for our products have increased significantly, requiring us to increase our prices,” the entrepreneur said. “Since our homes are vacation rentals and investment products, this increase has impacted the returns of our buyers and investors.”

Plans for DeBary Town Center moved forward with

$4 million loan to developers of the 68-acre project a quarter mile northeast of DeBary Sunrail Station on U.S. Highway 17-92. It is one of the largest undeveloped swaths near an existing station, according to the bank.

With about 2,200 residences including 289 apartments on 16 acres, plans also call for senior living facilities, stores, eateries and at least one small grocery.

will build the apartments, some of which would overlook the Gemini Springs Conservation area.

and

which includes Charles Lichtigman of Daytona Beach, will partner on the project. Steve Costa, managing member of the partnership, said he was grateful First Green Bank refinanced the project “so we can focus our capital on transforming the area into an impressive mixed-use development.”

The project is slated to get underway next year with completion in 2019.