ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The city of Apopka has decided to gift some downtown land to a developer in exchange for creating a $1 million public space with a pavilion, green space and food truck parking on an adjacent city-owned, 1-acre parcel.
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The city and its community redevelopment agency on March 20 voted to give a 2.43-acre downtown Apopka property to developer Standard Investments & Holdings LLC. The value of all 3.43 acres is roughly $900,000.
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The Orlando-based developer, which is working with Benge Development and residential partner Peacock Capital, will use the 2.43 acres to build a $9 million mixed-use project with up to 60 apartments across two buildings. A maximum of 36 apartments will be affordable, with the rest rented at market rate. That would include a maximum income of $67,000 for a one-bedroom unit.
Click here to read the full story on the Orlando Business Journal’s website.
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