839 N Magnolia Ave - Can be combined with adjacent properties (845 N Magnolia Ave & 110-114 E Marks St)to create 4 Parcel Assembly with Re-Development Potential of 20 Stories and 296 Units.Ray Design Development's concept design MOSAIC is a mixed-use project with multifamily and hotel as the primary uses along with an eating and drinking establishment on level 1 which is available to the general public. Because the project has alternate uses comprising at least 10% of the total building area along with other city desired features it will likely qualify for a Density Bonus as described in the Zoning Analysis. The current design has 19 stories with 256 units (152 Residential Apartments and 104 Hotel Suites) however the final height, uses and density are all subject to change per the preferences of a future Buyer and their development team. The maximum residential density for the assembly with a Bonus is 296 units. The maximum non-residential density for the project with a Bonus is 258,720 sf. The site is in a diverse neighborhood with close proximity to Lake Highland Prep, Marks Street Senior Recreation Complex, One Orlando Centre as well as many unique local restaurants, coffee shops, bars and more. Lake Eola, Thornton Park, Publix and more are only a short bike ride away. The AC-3A zoning offers a multitude of permitted uses including residential, hotel, office, medical office, hospital, eating and drinking establishments, retail, personal services, event venue and more. The 4 Parcels 839/845 N Magnolia Ave and 110/114 E Marks St) are Available and For Sale. The Owners of the properties will also consider Joint Venture Opportunities where the land is contributed in exchange for financial compensation and a Carried Interest/Ownership Position in the constructed project. For Additional Information regarding the property or to submit a Purchase or Joint Venture Offering please contact Diamela Atencio of ReMax Premier Properties. Please know Brian Ray of Ray Design Deve
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