Emerson International, which is nearing completion on its CenterPointe Apartments community on the northern side of Cranes Roost, is looking to move forward on a mixed-use project on a neighboring parcel.
The developer recently filed plans with the City of Altamonte Springs for a 268-unit, seven-story multifamily building at 192 E Central Pkwy. A site plan from Dewberry indicates that the building, which would have amenities such as a pool, a clubhouse, and structured parking, would be directly south of retail. According to the Emerson International website, the retail space will be spread over three one-story buildings, each with 5,000 square feet.
The multifamily and retail project is proposed for Lot 2 within Emerson International’s mixed-use development between East Central Parkway and Centerpointe Circle. The developer previously planned to build 36,600 square feet of office space, 8,300 square feet of retail, and a 10,000-square-foot restaurant on the site. Now, Emerson International is planning to build a scaled-down retail component on East Central Parkway.
“What they did was move the living/residential toward the lake, and they will put the retail and commercial adjacent to Central Parkway, where we have enhanced pedestrian and transit direct access. It’s the smart thing to do from both a land use and a transit perspective, and we support it,” said Altamonte Springs City Manager Frank Martz, pointing to CraneRIDES, the city’s autonomous vehicle transit program.
The nearly complete 401-unit CenterPointe Apartments is set to open later this year on Lot 1, while future phases are expected to deliver 459 apartments on Lot 3 and 460 apartments on Lot 4 adjacent to Cranes Roost. Emerson also developed and opened the adjacent 300-unit Sanctuary at Centerpointe in 2020. Combined, the developer could deliver a total of 1,888 apartments and adjoining retail space.
Emerson International’s planned mixed-use district is located just south of Altamonte Springs’ largest tower, the 18-story Majesty Building, which has been under construction since 2001. The tower, often referred to as the “Eyesore on I-4,” may seem complete from the outside, but the interior of the office tower is still not ready for occupancy, with no timeline set for completion.
While development on the northern side of Cranes Roost is more active, there are plans to potentially bring a pair of apartment projects to the southern side of the park as well. Tom Harb of Phoenicia Development filed plans last year for a 234-unit apartment building at 291 E. Altamonte Dr. The 5-story apartment building would have a structured parking garage and 10,000 square feet of restaurant space fronting Cranes Roost Boulevard.
Harb also owns a vacant 2.3-acre parcel across the street at 300 Cranes Roost Blvd. Martz previously told GrowthSpotter that the city wants a developer to build a large tower on the property, and that the municipality would build a parking garage on an adjacent city-owned parcel. However, multiple proposals for the site have failed to come to fruition.
Most recently, Gilbane proposed building an 18-story, 346-unit apartment building on the land, with swanky amenities such as an 18th-floor sky terrace. Martz referred to the plans as a “false start” that was halted by COVID and unfavorable market conditions.
Nearby, Eastwind Development held a grand opening in March for The Aston at Uptown, a recently completed 261-unit apartment community at 505 One Center Blvd. north of the Altamonte Mall and east of Cranes Roost. The developer broke ground on the building in 2022.
Elsewhere in Altamonte Springs, Palm Beach Gardens-based Muirfield Investment Partners plans to build a 322-unit apartment complex at 962 1st St. across the street from the city’s SunRail station.
Additionally, Toronto-based Fieldgate Properties, Dallas-based Lantower Residential, and Tennessee-based UP Development are partnering on Park at Altamonte West, a proposed mixed-use project that would deliver 541 apartments, 10,400 square feet of retail, and 12,000 square feet of office at 798 West Town Pkwy. Lantower Residential would build the multifamily portion of the development.
Have a tip about Central Florida development? Contact me at (407)607-8160 or TyWilliams@GrowthSpotter.com. Follow GrowthSpotter on Facebook and LinkedIn.
