Dr. Phillips Charities is working with a new developer to “explore options” to rejuvenate the Princeton Commerce Center within the Packing District.
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The property at the northwest corner of Princeton Street and Orange Blossom Trail was developed by Dr. Phillips in the late 1950s and early 1960s as a grocery store and bowling alley. More recently, it has served as the offices for L3 Harris’s Advanced Laser Systems Technology, and its successor company, Perimeter Solutions Group.
Executive Director Ken Robinson told GrowthSpotter that Dr. Phillips, master developer of the 202-acre Packing District, is working with Charlotte-based Crosland Southeast on the project that could bring a 331-unit multifamily and townhome development with 17,080 square feet of retail space to the site. Though the deal with Dr. Phillips Charities hasn’t been finalized, Crosland recently filed an administrative master plan for the 6-acre parcel at the northwest corner of Princeton Street and Orange Blossom Trail.
The apartment building would be a 4-story, double-courtyard building wrapping a 5-level parking garage. The retail and restaurant space would be located on the southwest corner of the site at the intersection of Princeton and Diversified Way. It would have direct access from the parking garage leading to a public plaza and outdoor seating. The concept calls for up to three restaurants.
The apartment building would have 40 studios, 134 one-bedroom units, 113 two-bedroom units, and 16 three-bedroom units, for a total of 303 units. The community would also include seven townhouse buildings, each with four units, separated from the apartments by a garden walk and dog park. Each townhome would be three stories with a two-car garage. Cannery Way would be widened to accommodate on-street parking.
Amenities would include a fitness center and dedicated yoga room, a dog spa, a spa restroom leading out to the pool courtyard, a clubroom and lounge, a double-height coworking space and a skylounge on the fourth floor.
While Crosland SE would be a new addition to the Packing District, the developer recently completed the 240-unit District West apartment community nearby at the corner of John Young Parkway and W.D. Judge Drive, across from the entrance to the 4Roots Farm campus. More than half of the units qualify for tax exemptions under Florida’s Live Local Act.
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“They’re a wonderful group,” Robinson said. “The District West project was workforce housing. These would be market-rate.”
The neighborhood is built on historic citrus land owned by Dr. Phillips Charities. Texas-based Embrey Partners developed two Class-A apartment communities, The Cannery and Citron, at the northeast and southwest quadrants, respectively. Publix anchors the northeast commercial quadrant, which also features multitenant retail and the signature Juice Stand corner store.
Welbro Building Corp. is wrapping up construction on the 4-story, Class-A office building at the SE quadrant and should get a partial certificate of occupancy this month, according to Robinson. Then Welbro will begin the interior buildout for Hatcher Insurance, which has leased the fourth floor. The third floor is reserved for several non-profit users, including United Arts and Jobs Partnership. The second floor is leased to Fusian Academy and will operate as a school.
“We’re not marketing the first floor for lease yet,” Robinson said.
The southeast quadrant is also home to the Great Southern Box Co. Food Hall and parking garage. The master plan calls for a limited-service hotel, but Robinson said Dr. Phillips doesn’t have a specific timeline for it. “We’ve had market studies done, and they’ve been very, very favorable.”
The district is also home to signature spaces like the Leonard and Marjorie Williams Family YMCA, The Brix Townhomes by Toll Brothers and High Point Climbing & Fitness/Dougies Dog Bar.
Have a tip about Central Florida development? Contact me at [email protected] or (407) 420-6261. Follow GrowthSpotter on Facebook and LinkedIn.
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