Tennessee company that builds ‘housements’ eyes Apopka
Spring Hill, Tennessee-based JCF Living, which builds what it calls “housements,” is brewing up plans in Apopka.
Project manager Brian Coil was listed in plans submitted in Apopka seeking to annex about 1.5 acres into the city and simultaneously amend its development entitlements for residential use.
The requests are part of larger forthcoming plans, Erika Hughes, entitlements manager at the planning and engineering firm VHB, told the city’s Development Review Committee last week.
John Fitzmaurice, the owner of JCF, has patented the term “housements,” an apparent combination of the words house and apartment.
According to the company’s website, the firm specializes in building multifamily developments that feature single-story buildings with private driveways and green space for renters. Amenities often include a community pool and fitness center, its website said.
The design is similar to the horizontal apartment trend seen emerging throughout the United States as more institutional investors begin building single-family rental portfolios.
Coil did not respond to requests for comment.
Across from the site, Sunrise-based real estate investment company Centerline Capital Advisors is assembling about 367 acres of land with plans for a large mixed-use community. Next to that, Meritage Homes is also working to procure nearly 100 acres of agricultural land with plans to build more than 300 new residences.
Husband and wife Bert and Barbara Roper have a legacy in the area. Their family’s lineage dates back to the 1850s with agricultural ties linked the area’s early citrus production businesses.
According to online marketing material, the family calls the property the “Boy Scout Block,” named after a former Boy Scout Camp located north of the property at 221 S. Binion Road. Today it’s known as Camp Wewa, which was recently put up for sale by the YMCA.
Firm buys more around Mall at Millenia
Limestone Asset Management, an affiliate of Orion Real Estate Group, is once again betting on Orlando’s Mall at Millenia.
At a time when malls around the world are struggling to attract shoppers, the company is growing its portfolio of properties surrounding the large shopping center off Interstate 4 at Conroy Road near the northern end of International Drive.
Limestone Asset Managements just paid $10.4 million for three out-parcels around the mall, bringing its total assemblage of out-parcels to 118,263 square feet.
The deal includes a 5,530-square-foot AT&T store, a 5,045-square-foot Panera Bread, and an adjacent 3,500-square-foot Shake Shack at 4060 Conroy Road.
It adds to the company’s purchase of more than 100,000 square feet of commercial space around the mall in September for $22.7 million, including buildings occupied by Olive Garden, BJ’s Brewhouse, Old Navy, West Elm, Ethan Allen, DSW and Ingenus Pharmaceuticals.
Lease agreements at the properties will remain intact and are considered long-term, according to a news release issued by Limestone Asset Management.
The partners developed many of the out-parcel buildings surrounding Mall at Millenia between 2003 and 2009, not too long after the mall opened in 2002. Together they own about a dozen other out-parcels, including the 58,475-square-foot Shoppes at Millenia retail center at Millenia Boulevard and Conroy Road.
Analytics firm Placer.ai found malls throughout the nation are experiencing a rebound in foot traffic as most of the economy opens up, restrictions loosen and more people receive a COVID-19 vaccine.
Foot traffic at a representative sample of 52 malls in March was up 86% from the same month last year, according to Placer.ai. But that number was 24% lower compared to foot traffic in March 2019, the study found.
Local retail industry experts previously told GrowthSpotter they believe businesses offering outdoor seating, online shopping options, curbside pickup and other forms of delivery and carryout options will prove to be more successful in a post-pandemic world.
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