A rooftop lounge offering views of Lake Monroe will top a new four-story condominium planned for downtown Sanford.

The project, called Vista at Lake Monroe, received site plan approval from the city commission earlier this month.

Plans call for a single L-shaped residential building with 80 units. The 3-acre property totals is at Seminole and Mellonville Avenues, along the north side of East 1st Street.

BSC-Sanford LLC, led by Brazilian developer Miguel Kaled, bought the land in January 2022 for $1.96 million, according to Seminole County deed records.

Kaled, who is behind several other projects underway in the Orlando market, said he believes this is the best piece of development-ready land in downtown Sanford.

“We found this land lakefront, and it is now the best site in downtown Sanford, for sure,” he told GrowthSpotter, adding that he’d been eyeing a spot in the city for years. “We always knew Sanford was a booming city. They have history, they have a lakefront. They have a wonderful marina, and the city knows how to promote itself. There are events almost every week over there.”

He said the goal is to offer units with prices starting in the $300,000s that will likely appeal to young professionals and empty-nesters.

“It’s for people who want to live in a small place with low-maintenance and good walkability,” he said. “We really want this to be spectacular. Of the seven projects we have underway in Central Florida, we really want this one to be our crown jewel.”

Along with a mix of one and two-bedroom units ranging in size from 1,200 to 1,400 square feet , the condo will also feature a pool, fitness center, game room, and a 1,500-square-foot rooftop lounge for residents.

“That will be extremely nice,” Kaled said of the lounge. “A rooftop overlooking Lake Monroe. What we expect is to have some tables, some lounge chairs up there, and make it some kind of entertainment, gathering area.”

Site plans call for a surface parking lot with 121 spaces, 25 of which would be covered. Maitland-based architecture firm Keesee Associates is leading the project’s design.

Kaled and his team had a robust development footprint in Brazil and Portugal before establishing a presence in Central Florida about four years ago.

In Osceola County, the team owns roughly 130 acres along Old Tampa Highway, just west of the Poinciana SunRail station.  Robert Whidden, a land planner and development consultant who’s working with the owners, said plans have not yet been determined for the property.

“It’s too premature to even suggest anything,” he said. “We are still in the beginning stages.”

In Polk County, Kaled’s team is moving forward with a 88-lot community in Lake Wales that will feature attached and detached homes with a modern design. When the plan was approved in July, it was among the first to follow the “Traditional Neighborhood Design” principles recently adopted by the city commission.

The plan for the 18.66-acre site includes mixed residential types, rear parking, sidewalks leading to nearby commercial services, a “green street,” and other features advocated in the city’s adopted set of “aspirations” for future development.

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