ORLANDO, FL—Capstone Land Sales has closed the $4.65 million sale of a ±34.71-acre development site in the Orlando suburb of Apopka. The site is situated at 1277 & 1255 Plymouth Sorrento Road near the interchange of State Road 429 and State Road 515, offering easy access to the Orlando metro and its countless amenities.
Capstone’s brokerage team of Brian Hunsicker, Nasser Al-Hafi, Jad Richa, Tom Huffsmith, and Cameron Hooper facilitated a competitive marketing process on behalf of the generational seller.
The buyer is Minneapolis-based multi-family developer Dominium, who plans to build side-by-side affordable housing communities totaling 492 units on the land. Upon completion, the development will comprise a 312-unit workforce housing community to be called Mira, and a 180-unit affordable age-restricted community to be called The Waters.
“Dominium has a long history of developing quality affordable housing and is a perfect fit to bring their product to this location in Apopka,” said Brian Hunsicker. “With the continued need for affordable housing and incredible growth occurring in the submarket, it’s great to see this project taking shape which will serve hundreds of households for years to come.”