Charles Schwab is gearing up to beef out its Maitland footprint at the Summit Park office campus, advancing a planned-development amendment that would let the firm expand its presence just north of Orlando. The move trails months of property buys in Summit Park as Schwab pulls more client-facing and back-office teams into Central Florida. For Maitland, where the company already has a sizable employee base and growing ownership in nearby office buildings, it is a notable escalation.
As reported by the Orlando Business Journal, the city's Development Review Committee advanced the planned-development amendment on May 20, a procedural step that keeps the application on track for Planning & Zoning and City Council review. The City of Maitland's 2026 development calendar also lists a DRC meeting on that date and notes the committee's role in vetting planned-development changes before they move on to later hearings.
Schwab has been assembling space at Summit Park for the last two years, picking up multiple office buildings and parking structures as it grows its Orlando-area operations. According to the Orlando Economic Partnership, the firm already employs more than 1,200 people locally and has acquired several Summit Park buildings and garages. Local commercial broker Foundry Commercial reported that Schwab closed on 1991 Summit Park Drive as part of those purchases, and industry reporting pegged the broader campus deal at roughly $122 million according to ThinkAdvisor.
What this could mean for Maitland
Commercial real-estate data show Maitland steadily soaking up Class A office space this cycle, with Schwab's moves playing a starring role. Cushman & Wakefield's Q2 2024 market report recorded Maitland's vacancy rate dropping 150 basis points quarter over quarter to 18.8% and credited about 57,300 square feet of Schwab move-ins as part of the submarket's net occupancy gains. Brokers point to the activity as another sign tenants are favoring higher-quality office product in the area.
Next steps
With DRC sign-off in hand, the amendment now heads to the Planning & Zoning Commission and then the City Council under Maitland's standard review process, and formal application materials are expected to appear on the city's permitting portal. Schwab has not released a public construction timeline for any buildout, according to coverage by the Orlando Business Journal, so the project remains in an early permitting phase.
Developers, brokers and city staff will be watching upcoming hearings for details on floor plates, site improvements and any traffic mitigation measures tied to the amendment. Local business and real-estate coverage holds the filings and analysis on the DRC action, the property purchases and what the expansion could mean for Maitland's office market.
