Oakland hears results of demand opportunity study

The Oakland Town Commission has received the results of a study conducted by a real-estate advisory firm, and the market analysis will help guide the town when it makes decisions on economic development.

Compspring was tasked with sizing the market in Oakland and discovering the demand opportunities in the town over the next five years for rental, for-sale, office, retail and hotel.

A fiscal impact analysis of certain land uses was provided, as well. This analysis identifies the support needed from the town for each of the land uses, as well as the projected contributions per land use.

Lisa Dilts, Compspring principal, and Gary Gray, of Davis Wince Ltd. Architecture, gave a detailed presentation at the Jan. 14 Town Commission meeting.

It outlined demographics, which concluded that, overall, Oakland is most heavily concentrated with households in the 25-to-64 age range and more than 35% of those households earn more than $100,000 per year. In 2018, Oakland had 116 new-home sales, all in the $250,000 to $500,000 price range. That same year, more than 40% of the jobs in the town were office or medical office related.

In addition to the current statistics, Compspring estimated potential increases in those same categories in the coming years and identified market audiences.

To evaluate the demand opportunity by land use, several factors were considered, including employment, health and household growth projections in the broader area, as well as projected growth in the town and surrounding area.

The firm made a number of conclusions:

• There are about 135 new homes annually; the upside (potential) demand could be about 180.

• The current demand for additional conventional office and medical office space is 15,000 square feet; the upside demand is 40,000.

• Office co-working space currently comprises 2,000 square feet and, in the next five to eight years, 2,500; the upside demand is 10,000 to 12,000.

• Up to 100 hotel rooms could be utilized to support the current population and area employees; the upside demand is up to 200.

• A total of 160,000 square feet of supportable retail space is projected in the next five years; the upside demand is up to 200,000.

• Based on demand, Oakland could support 60 to 85 new multi-family units per year for the next five years; the upside demand is 250 to 300 units, with the potential to add up to 300 more in the next two years.

All of this data will play a significant role in what type of economic development Oakland will pursue.

Gray said he already is working on the next phase — he has been talking to three interested restaurants, has identified some appropriate land for them, has made a few conceptual designs for various-sized restaurants and is calculating construction costs.

They would be local restaurants, possibly with a farm-to-table concept and no national chains.

“We’re trying to help you set the priorities,” Gray said.

“It’s coming no matter what,” Mayor Kathy Stark said. “We might as well get what we want.”

To which Gray replied: “You don’t want to be Winter Garden West. You want to be you.”

ORDINANCES PASS

The Town Commission passed the second reading of three ordinances regarding a Comprehensive Plan amendment text change, a water impact fee amendment and the vacation of a portion of Arrington Street.

• The Comp Plan text change includes amendments to two sections — the Future Land-Use element; and the Conservation, Infrastructure and Intergovernmental Coordination elements. The first lowers the density cap of dwelling units per acre from 55 to 25, which is consistent with three- and four-story buildings. The latter revisions were recommended in the state-mandated 10-year water supply facilities master plan.

• The town is seeing significant growth, and with it come more demands on the town’s water system. Town officials hired Raftelis Financial Consultants to conduct a water impact fee study; it was determined that increased rates were necessary.

For single-family resident homes, the existing rate is $937 and the new rate will be $1,946. The rates of other classes — including commercial and multi-family — are determined by the size of the meter, from 5/8-inch to 8 inches, and are increasing from a range of $937 to $46,850 to a new range of $1,946 to $155,680.

These rates will become effective Feb. 1. The impact fees are imposed on new construction.

The increased dollars will help the town carry out several much-needed projects, including a new water well, an alternative water source for irrigation and new distribution lines in the northwest and southern areas of the town’s Joint Planning Area.

• The town is vacating a 20-foot portion of South Arrington Street to the West Orange Baptist Church, and in return, the church is giving the town the northern 25 feet of its property on South Tubb Street. This allows both owners to more effectively utilize their properties. The town will use the traded land to provide electric service for the future sewer lift station No. 5, which will help create another section of the town’s street grid network.

IN OTHER BUSINESS

• The commissioners accepted the infrastructure for Oakland Park Phase 6A, which included the water, streets, sidewalks and lot pad grading, “as they have been built to standards that have been agreed upon,” Public Works Director Mike Parker said in his report. The total value of the improvements was $1.28 million — $535,000 for roadway and paving, $485,469 for the storm drainage system and $258,957 for the potable water distribution system.

• The commission approved asphalt apron work on Brock Street, as well as other locations in town. The aprons are necessary to create a transition between dirt and paved roads when they intersect.

• Town Clerk Elise Hui read the oath of office to the new police chief, John Peek.

• Mark Sittig of the Florida League of Cities presented a resolution to Mayor Kathy Stark for her 25 years of elected service to the town of Oakland.

• The commission approved the town manager entering into a contract with Kimley-Horn and Associates using the town of Windermere’s contract for a transportation initiative proposed by Mayor Jerry Demings to be funded through an increase in the sales tax. Area municipalities are working together on a regional transportation solution plan to submit to Orange County.