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The developer behind Orlando’s fast-growing Lake Nona community is seeking a substantial increase to the volume of homes, hotel rooms and commercial space it can build within the 17-square-mile, mixed-use development.
Tavistock Development Co. wants to amend Lake Nona’s planned development program and add 7,225 homes, 1,408 hotel rooms and more than 14.2 million square feet of other commercial uses to its existing permissions.
Those figures represent increase of 53%, 63% and 133%, respectively, to the existing development program.
The sought additions for the non-residential commercial space are broken down further as 6.48 million square feet of airport support space, 549,890 square feet of retail space and 7.25 million square feet of office/civic space.
The second reading of the developer’s request is scheduled to go before Orlando City Council Sept. 26.
In a memo submitted to the city as part of its request, Tavistock asserts that the original plans approved in 1983 anticipated a more suburban growth pattern than what the marketplace has evolved to and now demands.
With roughly 1,500 developable acres remaining in Lake Nona, the developer wants to double-down on density.
“The region’s growth has caused Lake Nona to experience a surge in requests for industrial, retail, office and residential product — a more modern and urban landscape that differs from the suburban design initially planned with the original [planned development],” reads Tavistock’s memo to the city.
“To meet this demand, future development will feature higher density areas and promote a live/work dynamic in a new, mixed-use district and in plans for the energetic Lake Nona Town Center that continues to attract the latest industry innovators and host some of the city’s most-attended events.”
For the full article, visit the Orlando Business Journal online.