Construction is under way and 18 months
from now, people will move into the station house apartments. There will
be two hundred luxury apartments just across the street from the Lake Mary Sun
John Omana is Lake Mary's community development director. He says building apartments near the Sun Rail station is a concept called transit oriented development or T.O.D.
He says, "It's a term that's used in land use to really embrace the concept of live, work and play within a specific geographical area."
Four hundred people will live in the apartments, and businesses will move in to serve them.
Omana says, "So it's kind of a city within a city, and the reason we're so excited about it is that the T.O.D. we believe will revitalize our downtown."
The city will spend $1.8 million to build a parking garage and for landscaping. Epoch Properties will invest $26 million to develop the property.
The luxury apartments project is also creating other developments in the immediate area, like the building directly across the street. It will become a mass transit center with office space, and other developers are also making their way into city hall to ask questions.
Developer Terry Shaw with Shaw Construction built most of the restaurants, boutiques and businesses on Lake Mary's 4th Street. It's a short walk from the new apartments.
Shaw says this is just the beginning of a building boom in Lake Mary's downtown area. "We have over sixty acres to develop down here. We are getting interest from all over the United States. Corporations want to come in and bring their corporations here."
City leaders are eager for the apartments to be completed. Omana says, "We really feel that this is going to be the catalyst for subsequent development, not only within the T.O.D. area, but within the entire downtown area of Lake Mary."
Developers in Longwood and Orlando also plan to build apartments near Sun Rail stations.