Developer Sales
Collection 674
Project facts
- Status
- Pre-Development
- Address
- 2908 W State Rd 426
- City
- Oviedo, Florida
- Region
- Orlando MSA
- Submarket
- Orlando; Winter Park
- Units
- 34
- Average unit size
- 936 SF
- Amenity tier
- Premium
- Key amenities
- Owners' Clubhouse/Lounge; Event Space; Guest Parking; Gated Access & Security; Wash Bays & RV Stations; Smart Access & Wi-Fi; 24/7 Owner Access; Climate Control; High-Amp Electrical Service; Fire Sprinklers; 14'+ Roll-Up Doors; 18'+ Clear Heights; Mezzanine Capabilities; Vehicle Lift Capability; Private Bathrooms; Combinable Units
- Construction
- Block
- Finish level
- High-Quality
- Projected delivery
- 2028
- Flood zone
- X
Location Summary
Oviedo / Orlando; Winter Park Overview
Collection 674 occupies 2908 W State Rd 426 in Oviedo, one mile east of the State Road 417 interchange on Aloma Avenue, the arterial that carries Seminole County's southeastern quadrant west into Winter Park. The address sits at a genuine seam: Oviedo and Winter Springs supply established, high-earning single-family households across Tuskawilla, Alafaya Woods, and Kingsbridge, while a seven-mile drive west on Aloma Avenue reaches Park Avenue and Winter Park's estate neighborhoods. Seminole County is the affluence anchor, reporting a median household income of $70,236 against Florida's $63,062 and a bachelor's degree or higher share of 43.4 percent against the state's 33.2 percent, a college-educated, professionally employed ownership base within a short drive of the door.
Access is the site's most underrated attribute. SR 417 one mile west is the metro's eastern beltway, placing Orlando International Airport roughly 25 minutes south and the I-4 corridor a comparable run northwest without routing an owner through downtown congestion, while Aloma Avenue ties the site directly to the Winter Park retail spine. Inherited from the parent reports: the Orlando MSA reached about 2,957,672 residents as of July 1, 2025, adding 37,690 people year over year at a 1.3 percent rate that outpaced Florida's 0.8 percent and the nation's 0.5 percent, and the Orlando and Winter Park submarket is the metro's built-out historic core, where land suitable for this product is scarce and value concentrates in infill execution.
FEMA maps the parcel in Flood Zone X, outside the Special Flood Hazard Area, a meaningful distinction for housing high-value vehicles in Central Florida.
Current Events & Infrastructure
- SR 417 Seminole Expressway Widening ($300 million): Florida's Turnpike Enterprise is widening the Seminole Expressway from four to eight lanes between Aloma Avenue/SR 426 and just north of SR 434, replacing five bridges and widening or improving twelve more, with completion targeted for late 2030. Its southern limit is the interchange one mile west of the site, so the corridor owners will use to reach Collection 674 is being rebuilt to double capacity during the building's first ownership cycle.
- Oviedo Medical Center Expansion ($80 million): HCA Healthcare's 96-bed Oviedo Medical Center opened its fourth floor in November 2025, completing a phased expansion that also delivered a 24-room intensive care unit, an enlarged labor and delivery unit, and a ninth operating room. The hospital sits roughly two and a half miles north on Red Bug Lake Road and adds specialist physician households, historically among the most consistent buyers of secure private garage space, to the trade area.
Key Demand Drivers
The demand case here is neither tourism-led nor seasonal. It rests on a permanent base of professional and academic earners living in large Seminole County homes whose two and three-car attached garages are already full, layered over a new-apartment pipeline delivering residences with structured parking and no meaningful storage. Each driver below is a non-competing employment, institutional, or cultural anchor within a short drive of the site.
- University of Central Florida: UCF enrolled 70,674 students in Fall 2025 and employs more than 13,000 people, including 2,006 faculty, on a campus less than five miles southeast of the site, and its researchers drew $237.4 million in funded research in fiscal 2025. It is the largest university by enrollment in Florida, and its senior faculty, administrators, and medical school households are a standing source of discretionary-income buyers.
- Central Florida Research Park: Adjacent to UCF and roughly five miles from the site, the park spans 1,027 acres and 68 buildings housing more than 140 companies and over 9,500 employees. It is the home of the region's defense modeling and simulation cluster, an engineering and executive workforce whose income profile and technical hobbies map directly onto this product.
- Oviedo Mall Redevelopment (approximately 700 apartments): In July 2026 the Oviedo Mall property cleared agreements for roughly 700 market-rate apartments across two phases, about 400 units by Picerne Development on the 15-acre former Macy's parcel and about 325 by Woodfield Development on 14 acres to the west, with one developer expected to invest about $100 million. The property is about three miles northeast on SR 417, and residents of new attached product are precisely the households that cannot keep a collection, a boat, or a track car at home.
- Orlando Auto Museum at Dezerland Park: About 35 minutes southwest via SR 417 and I-4, the museum displays a collection reported at more than 2,000 vehicles and valued at roughly $200 million, the metro's principal collector-vehicle cultural anchor. Paired with Central Florida's year-round drivable climate, it sustains an enthusiast calendar that keeps collections in use rather than dormant.
Location Highlights
- MSA Position: The Orlando MSA added 37,690 residents in the year to July 1, 2025, a 1.3 percent rate ranking it sixth fastest among the thirty most populous U.S. regions.
- Enthusiast and Collector Culture: A $200 million, 2,000-plus vehicle museum collection within a 35 minute drive, plus a subtropical climate that makes a collection usable twelve months a year.
- Infrastructure and Recreation: SR 417 one mile west and under active $300 million reconstruction, plus the roughly 27 mile Cross Seminole Trail, which runs through Oviedo and links west toward the Cady Way Trail and Winter Park.
- Flood and Insurability: FEMA Flood Zone X, outside the Special Flood Hazard Area, so no federal flood insurance mandate attaches to the parcel.
- Tax and Quality of Life: No Florida state income tax, and a Seminole County education and income profile above state averages at 43.4 percent bachelor's or higher and a $70,236 median household income.
- High Net Worth Concentration: 2,429 households earn $200,000 or more within three miles, 8,367 within five miles, and 18,667 within seven miles, on a five-mile median home value of $375,906.
Area Demographics (ACS 2024)
5-Mile Profile: Population 213,245 | Median HH Income $80,806 | HH Earning $150K+ 20.0% | Median Age 34.0 | Age 55+ 25.5% | Seasonal Units 0.9% | Households with 3+ Vehicles 19.7% | YoY Population Growth Not available
Wealth Index: 6.6 / 10 (SCK portfolio-relative)
The five-mile median age of 34.0 reflects the UCF student population inside the radius and understates the ownership cohort; the affluence signal sits instead in the 8,367 households at $200,000 or more and the 20.0 percent above $150,000. At 6.6, the site's Wealth Index runs well above the 4.7 Orlando MSA portfolio average, and the 19.7 percent multi-vehicle household share confirms a garage-constrained trade area.