In December, 2018, a transaction closed leading to the development of a 20,000 square foot mixed-use at the southeast corner of Osceola Parkway and Orange Avenue. ESPO-Osceola, LLC will construction a new 3-story building with 1/3 for retail development and the balance office users.
Today Deerfield Land Corporation completed the sale of 1.5 acres on Orange Blossom Trail to CFE Credit Union for its construction of a retail branch operation. It is expected that construction will be completed and open in 2019.
Deerfield Land Corporation today closed on the second phase of the sale to Eastwind Development Company of approximately 3.5 acres to bring the number of units from 240 to 352. The project is expected to be completed in 2019.
We are happy to announce a fourth sale today to Fore Properties Company of a 7-acre site on the Northwest corner of the intersection of Batts Street and Ball Field Road in Northern Osceola County for the development of a 216-unit market-rate, luxury apartment project named Monterosso. These apartments will be immediately North of the Osceola County Softball Complex, be adjacent to the planned extension of Thacker Avenue to connect with Osceola Parkway, and have close proximity to both the Loop and Crosslands shopping centers. They are expected to be open for occupancy in 2019.
We are happy to announce a third sale to Eastwind Development of a 14-acre site on the West side of Orange Avenue in Northern Osceola County for the development of a 240-unit market-rate apartment project named San Mateo Crossings Apartments. These apartments will be in transportation-oriented development property of Deerfield Land Corporation and immediately opposite the SunRail Tupperware Station. It is expected that an additional 3.5 acres will be added to the site later in 2018, bringing the total unit count to 352, and that the apartments will be ready for occupancy starting in 2019.
The reconstruction project involving Orange Avenue announced in October 2015 has been completed and is now open to public traffic. The project involved the complete reconstruction of the road from its southern terminus at the junction with Osceola Parkway to the county line, a distance of approximately 1/2 mile. The road has been converted from a 2-lane highway without traffic signals to a 4-lane boulevard with a landscaped median and 3 traffic signals north of Osceola Parkway. One of the signals serves the new access road, Tupperware Boulevard, to the new Tupperware Station on the SunRail commuter rail line, which is scheduled to go into service at the end of July, 2018. Approximately 95 acres of developable land were cleared and supplied with utilities surrounding the reconstructed Orange Avenue and immediately adjacent to the Tupperware Station location in preparation for development.
On December 20, 2017, Deerfield Land Corporation completed the sale of approximately 3.5 acres on the corner of Centerview Boulevard and Orange Blossom Trail to Pinnacle Hospitality Group. The project will bring a much-needed 128-room Hampton Inn Hotel to Osceola Corporate Center, as well as an entitlement for a 5,000 square foot restaurant. Construction is expected to begin immediately and the hotel will be open for business in early 2019.
On September 15, 2017, Deerfield Land Corporation closed on the sale of approximately 14 acres located at the Northwest corner of the intersection of Orange Avenue and Osceola Parkway for a 122,000 s.f. medical complex. The transaction is the first in the transportation-oriented development of Deerfield's project. The first phase of the Orlando Health project is scheduled to begin construction immediately and be completed by year-end 2018.
Deerfield Land Corporation is pleased to announce the sale of a 2.14-acre parcel to Morningstar Properties for the development of a 100,000 square foot mini-storage facility at the intersection of Centerview Boulevard and Batts Street south of the Vernazza Apartments project and west of the Providence One Sage Park assisted living and memory care facility.
We are happy to announce the sale to Providence One of a 3.4-scre site on the northwest corner of the intersection of John Young Parkway and Centerview Boulevard for the development of 104 assisted living units and 24 memory care units. The facility will be immediately south of the Vernazza apartment site and the Best Buy.