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Heartwood – The Gardens on Millenia – Florida - Project Profile

Heartwood – The Gardens on Millenia – Florida - Project Profile

Synopsis

"Heartwood – The Gardens on Millenia – Florida - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "Heartwood – The Gardens on Millenia – Florida - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary

Heartwood 21, LLC (Heartwood), an entity related to Fort Lauderdale-based Holding company BFC Financial Corp. is undertaking the construction of a mixed-use project in Florida, the US.

The project involves the construction of mixed-use facilities on 19ha of land comprising 27,870m2 retail facility along with a 292-unit apartment complex known as 'Addison on Millenia'.

The Addison on Millenia includes the construction of apartment complex on 5ha of land, 743m2 clubhouse, resort-style pool, a full circuit fitness center, outdoor social area with a fire pit, a billiard table and gaming stations and a spa with an investment of US$48 million.

The retail facility is further divided into two phases.

The first phase of the retail facility includes the construction of a 1,310m2 retail center which will include Hobby Lobby and Academy Sports as anchors along with 2,155m2 inline retail facility.

The second phase of retail facility includes the construction of a 14,121m2 Costco store and gas station

on 6ha of land.

The project includes the construction of multiplex cinema theater, offices, a clubhouse, lakeside pavilion, lakeside running track, a dog park, parking facility and related facilities, and the installation safety and security systems.

On September 23, 2013, a master plan application was submitted to OCC.

In November 2013, the public consultation process was initiated.

In October 2014, Heartwood received master plan approval from the OCC.

BBX Capital Corporation (BBX) has been appointed as the developer for the project.

In October 2015, BBX entered into a joint venture agreement with Stiles corp. to develop the first phase of the retail facility. According to the agreement, joint venture sold 6ha of land to Costco Wholesale Corp to develop the second phase of the retail facility. The in-house division of Stiles is undertaking the construction works.

Libra Design Group Inc. has been appointed as Landscape Architect on the residential development.

Charlan Brock & Associates has been appointed as the design consultant and Madden, Moorhead & Glunt Inc as engineering design consultant for the project.

On December 8, 2015, Heartwood sold the parcel to Costco Wholesale for US$9.3 million.

Costco appointed T.D. Farrell Construction Inc to undertake the construction works of the 14,121m2 Costco store and gas station.

On January 7, 2016, BBX signed a joint venture agreement with ContraVest Builder to develop the residential apartments. According to the agreement, Pomeroy & Co. Inc. is undertaking the construction works.

In January 2016, Construction on both the phases of the project commenced.

In January 2017, Construction on the Academy Sports and Outdoors, Hobby Lobby, and Costco Wholesale of the second phase of the project completed.

In July 2017, the first two buildings of apartment homes at The Addison on Millenia has been completed.

Construction is expected to complete by the fourth quarter of 2018.

Scope

The project involves the construction of mixed-use facilities on 19ha of land at 3851 Millenia Boulevard in District 4, Orlando, Florida, the US.

The US$92 million project includes the following:

1. Construction of a multiplex cinema theater

2. Construction of offices

3. construction of 27,870m2 retail facility

4. Construction of 292 unit residential apartments

5. Construction of a 743m2 clubhouse

6. Construction of a resort-style pool

7. Construction of a full circuit fitness center

8. Construction of a billiard table and gaming stations

9. Construction of lakeside pavilion

10. Construction of lakeside running track

11. Construction of dog park

12. Construction of related infrastructure

13. Installation safety and security systemsReasons To Buy

  • Gain insight into the project.
  • Monitor the latest project developments.
  • Identify key project contacts.


1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Tender Information
6.Scope
7.Description
8.Latest update
9.Background
10.Key Contacts
11.General News, Project News
12.Appendix

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