MAITLAND, Fla. (WOFL FOX 35) - The $67 million, mixed-use development known as Maitland City Centre hit a milestone this past week as the companies behind the project closed on the sale of the 3.2-acre parcel of land (map) that will eventually be home to trendy dining venues, upscale retail establishments, art galleries, and luxury residences.
The land is presently occupied by a single-story strip mall and a stand-alone Jeremiah's Italian Ice (click here to see a Google street view). It was sold by Iberia Bank to Maitland City Center, LLC, an entity of the development team, for $4.2 million. Demolition is expected in the coming weeks.
"Not only is the project ideally situated among the key City landmarks of City Hall, government offices, the City's central green space, the SunRail Station, the new Festival Street plan and the Maitland Art Center which recently achieved the status of a National Historic Landmark," said Brian Grandstaff with the retail brokerage firm for the Centre, "but its beneficial location receives an average traffic count of 46,000 vehicles each day."
The six-story development designed by ACi of Winter Park calls for 220 one-and two-bedroom rental apartments and 24 live/work units that combine a one bedroom apartment with office space. Residences will range from 700 to 1,300 square feet and are priced from $1,300 to $2,400 per month.
Many Maitland residents have opposed the development, saying the six-story building is too tall and doesn't blend well with other structures in the area. They have also cited problems with overall density and traffic flow.
Maitland City Centre is slated for occupancy in 2017.