Narcoossee investor looking to expand commercial site at Cyrils | GrowthSpotter

By LAURA KINSLER | lkinsler@growthspotter.com | GrowthSpotter | December 7, 2023 at 4:23 p.m.

An Orlando company that specializing in managing affordable housing communities bought a prime commercial lot on Narcoossee Road in November and is looking to expand the site. County planners are worried that the goal is to use the Live Local Act if the property gets rezoned.

Photenie Burnett with the county’s long term planning office told the applicant that “people would go nuts” if they found out the buyer wanted to build low-income housing in the Narcoossee Overlay.

The buyer, Sunbridge at Lake Nona LLC, paid $4.5 million for the 9.3-acre commercial parcel at the northeast intersection of Narcoossee Road and Cyrils Drive — just north of where a new Publix-anchored shopping center is underway. The company is led by Kenneth Dixon, president of Leland Enterprises, a multifamily management firm specializing in affordable housing. Dixon did not respond to multiple inquiries from GrowthSpotter, and his broker declined to speak about the intended use.

Daryl Carter, who sold the property and is developing the Publix center, told GrowthSpotter he was not aware of the buyer’s plan for the site. There was no deed restriction attached to the sale.

Read the entire article here:  https://www.growthspotter.com/2023/12/07/narcoossee-investor-looking-to-expand-commercial-site-at-cyrils/