ICP seeks OK to revamp proposed development - Orlando Business Journal:

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Suburban Land Reserve — which bought four International Corporate Park parcels plus several surroundingf parcels in 2007for $113.1q million — sought to modify the plan in but didn’t get the required However, the Orange County Loca l Planning Agency on May 21 gave the development firm a thumbs-upl to roughly double the amount of office and retail space. It needd one more OK from the county commissioj on June 23 before it can submit plan change s tothe .
The state must approve any changes to Internationak Corporate Park because it initially was approvesd as a development of regionalimpact — a larg development that affects the resources, facilitiee and residents of more than one county due to its location or type. Suburban Land Reserve attorney Wayne Rich said the planned changes to make Internationak Corporate Parkmore transit-oriented a residential and commercial area centered around access to publix transportation — would better aligh it with Innovation Way, the corridor slatecd to link Lake Nona’s “medicalo city” and in the south to Central Floridaa Research Park in the “We wanted to add provisions for commuter rail and potential lightg rail that were not in the previou s plan,” said Rich.
To encouragwe more public transit-type development, Suburban Land Reservd wants to increasethe project’e density, partly by shifting the previouslyu planned 3,440 residential units in International Corporate Park from beinbg mostly single-family homes to more apartments and live-work units above commercial property. The county is working to designate Innovation Way as a multimodaltransportation district, a strategy whered the requirement that enough roads be available to supporgt development is based on all modes of not just cars and That designation would require development in the area to includes more street connectivity, a mix of land uses and urbann design to encourage more walking, biking and publid transit.
That designation also woule make International Corporate Park and Innovation Way a more viablse destination for companies andtheir workers, said Jim chief financial officer with LLC — formerlyg LLC, which did commercial development in east Orlando. “Yoju have to find an efficient way to move peoplew up and downthat corridor, so anything ther e needs to be oriented to Suburban Land Reserve also is working with the county and the Expressway Authority to extend Alafaya Trail to State Road 528 — knownj as Road E. The Road E agreemen t will go to the county commission for approvap onJune 2.
High-paying, high-tec h jobs International Corporate Park’s amended plan also woulds increase the area under contract to be marketexd by Central FloridaResearch Park, the 1,000-acre office park near the ’ s main campus that caters to high-tecn firms. Research Park, which initially planneed to build 3 million square feet in International Corporate wouldhave 3.5 milliob square feet under the amended plan. Joe Wallace, Research Park’s executivd director, said the existing park near UCF shoulc max outat 18,000 high-wage jobs in the next six or seveb years, but there’s still a need to creater more high-paying, high-tech jobs along the Innovatioj Way corridor.
“My goal is to fill this from UCF to OrlandoInternational Airport.