Multifamily Development Opportunity

Multifamily Development Opportunity on this prime Winter Park 1.32-acre lot featuring future mixed-use zoning for redevelopment. The property's current A2 zoning is strategically positioned between two R3-zoned properties, will undergo a rezoning process to R3. With a future land use designation of Medium Density Residential (allowing up to 20 dwellings per acre). Anticipating the upcoming Vision 2050 Plan and the implementation of the new Orange Code, the proposed future land use is Urban Corridor. Expected to be effective next year, this district allows a maximum density of 50 du/ac, with a floor area ratio (FAR) of 3.0 for non-residential uses. Affordable Housing options could reach up to 75 du/ac. Presently, a livable house with a pool occupies the property, providing an opportunity for updates and leasing during the planning stages for future land development. With a daily car count exceeding 25,000, the location ensures maximum exposure. This presents an ideal prospect for home builders looking to capitalize on the evolving landscape of urban development.