Multi-Family Residential Developments

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  • Owner wants to reboot condo project next to Bahama Bay with townhomes

    Owner wants to reboot condo project next to Bahama Bay with townhomes

    The owner of a partially built condo community next to Davenport's Bahama Bay Resort wants to reboot the community by switching from condos to townhomes. ICM Development Group founder Carlos Balzola acquired the 24-acre parcel in the Westside Planned Development (PD) in 2012, and brought in additional...

  • City staff push for design changes on 13-story concept along E. Livingston

    City staff push for design changes on 13-story concept along E. Livingston

    Illinois-based multifamily developer Banner Real Estate Group has the initial support of city staff for its proposed 13-story mixed-use apartment building planned in Downtown Orlando, but has also been put on notice that key design elements must change in the coming months.  Conceptual plans and...

  • Two Kissimmee apartment complexes sell for combined $90M

    Two Kissimmee apartment complexes sell for combined $90M

    A pair of Kissimmee apartment communities both located just off John Young Parkway changed hands last week to different buyer groups for nearly $90 million. Virginia-based Chandler Management Corp. paid $49.5 million on Aug. 8 for the Lake Tivoli Apartments. The 384-unit complex was developed in...

  • New York investor drops $16.5M on bulk condo unit buy in tourism corridor

    New York investor drops $16.5M on bulk condo unit buy in tourism corridor

    New York-based multifamily investor ESG Kullen LLC paid $16.57 million last week for 145 units in the Discovery Palms condominium complex in Orlando, according to a deed recorded Tuesday in Orange County. ESG Kullen secured a mortgage on the property for $20.82 million from TH Commercial Mortgage...

  • Start on foundation work for Inverlad's 'The Yard' at Ivanhoe eyed for Oct-Nov

    Start on foundation work for Inverlad's 'The Yard' at Ivanhoe eyed for Oct-Nov

    With road realignment nearly done and relocation of utility lines taking longer than expected, Real Estate Inverlad Development expects to start laying foundation for The Yard at Ivanhoe mixed-use project by November, senior vice president Chance Gordy told GrowthSpotter.  Inverlad is about 30...

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  • Developer refines mixed-use tower plan in Downtown Orlando to favor pedestrian

    Developer refines mixed-use tower plan in Downtown Orlando to favor pedestrian

    Illinois-based multifamily developer Banner Real Estate Group has further updated its conceptual site plan for a 13-story mixed-use building a block north of Lake Eola to favor the pedestrian experience, in anticipation of a Municipal Planning Board hearing for multiple requests next month.   An...

  • Developer buys apts site behind Fashion Square for Orlando entry, seeks more land

    Developer buys apts site behind Fashion Square for Orlando entry, seeks more land

    Hollywood-based multifamily developer and operator The Cornerstone Group paid more than $8.64 million last week for a 15-acre site behind Fashion Square Mall, planned and entitled for 356 apartments last year by Trammell Crow Residential.  Cornerstone has previously focused on affordable housing development...

  • IBI Group seeking new permits for 3,000-home BK Ranch project

    IBI Group seeking new permits for 3,000-home BK Ranch project

    Entitlement specialist IBI Group is rebooting the 948-acre BK Ranch mixed-use project south of Kissimmee with a new round of permit applications. The firm had been seeking a Comprehensive Plan Amendment in 2015 for a Mixed-Use district. At the time the property had a developer on board, GreenPointe...

  • Boyd Dev, partners buy 31 more upland acres in Hamlin for medical campus & apts

    Boyd Dev, partners buy 31 more upland acres in Hamlin for medical campus & apts

    Affiliates of Boyd Development paid more than $6.91 million on July 18 for 31 upland acres northeast of its Hamlin Town Center, where the properties will be split to accommodate a proton therapy center announced last September, medical office buildings and a second phase to apartments now being...

  • NY-based affordable housing investor has Orlando's Timber Sound under contract

    NY-based affordable housing investor has Orlando's Timber Sound under contract

    An affiliate of New York-based affordable housing owner and developer Lincoln Avenue Capital has the 240-unit Timber Sound Apartments in southwest Orlando under contract, which would be its second asset in Greater Orlando. Located at 4903 and 4897 Raleigh St. north of Eagle's Nest Park, the property's...

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  • New subdivision planned on former St. Cloud Airfield property

    New subdivision planned on former St. Cloud Airfield property

    The City of St. Cloud has annexed a former private airfield and approved a PUD zoning for a 355-home subdivision there. Winter Garden developer Mark Maciel has filed a Preliminary Subdivision Plan for the 143-acre parcel on Michigan Avenue, just south of St. Cloud High School. The PSP goes to City...

  • Bahrain-based private investment group buys student housing near UCF

    Bahrain-based private investment group buys student housing near UCF

    Investcorp, a private global investment company headquartered in the Persian Gulf nation of Bahrain, paid $42.27 million last week for a 228-unit student housing complex near the University of Central Florida. The company purchased the former Village at Alafaya Club last Thursday, according to...

  • Starlight U.S. Multifamily pays $63M for Dr. Phillips-area apt complex

    Starlight U.S. Multifamily pays $63M for Dr. Phillips-area apt complex

    Affiliates of Toronto-based real estate investment firm Starlight U.S. Multifamily paid $63 million on Thursday for its fourth asset in the Greater Orlando market, buying the 315-unit Altis Sand Lake apartments in Dr. Phillips. Located at 7118 Altis Way near Dr. Phillips, the Class A community...

  • Tavistock gives name, start date & Tesla cars to new Lake Nona apt bldg

    Tavistock gives name, start date & Tesla cars to new Lake Nona apt bldg

    Tavistock Development Company has given a new name and construction start date to its planned 11-story mixed-use building in Lake Nona, which will feature Greater Orlando's first offering of urban micro-apartments and a host of innovative new amenities.  First reported here in early October 2016...

  • New renderings update plan for mixed-use apartment bldg in Downtown Orlando

    New renderings update plan for mixed-use apartment bldg in Downtown Orlando

    New renderings and documentation filed with the city of Orlando offer a clearer view of what Illinois-based multifamily developer Banner Real Estate Group is planning for an 11- to 13-story mixed-use tower in Downtown Orlando.  An initial filing in mid-April set the stage for Banner's desired entry...

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  • Kettler projects $115M investment in Celebration, rapid FL expansion

    Kettler projects $115M investment in Celebration, rapid FL expansion

    Multifamily and mixed-use developer Kettler expects its planned luxury apartment community in Celebration to be the first of several deals in Central Florida as the company looks to gain a foothold in the Greater Orlando market, CEO Robert C. Kettler told GrowthSpotter.  "This development transaction...

  • Food halls latest trend in mixed-use developments, experts say

    Food halls latest trend in mixed-use developments, experts say

    As developers of high-end mixed-use buildings look for ways to offer unique dining options to their residents, many are now turning to food halls as a key element in their retail mix. "As we right-size retail now, chef-driven food halls work because people want to live locally," Bayer Properties...

  • Harbor Group re-enters Greater Orlando w/Maitland apts at $44.3M, seeks more

    Harbor Group re-enters Greater Orlando w/Maitland apts at $44.3M, seeks more

    Virginia-based commercial real estate investors Harbor Group International paid $44.35 million on Tuesday to re-enter the Greater Orlando market, buying the recently completed 244-unit The Courtney at Lake Shadow apartments in Maitland. The company has shifted its investment focus in the past year...

  • Narcoossee land assemblage slated for live-work development

    Narcoossee land assemblage slated for live-work development

    The city of St. Cloud will consider an annexation request for 11.5 acres assembled on Narcoossee Road for a proposed live-work development. The case goes to the city's Planning Commission on June 20. The four parcels lie on the west side of Narcoossee, just across Rummell Road from Turtle Creek....

  • Nalcrest planning first major expansion of retirement community in east Polk

    Nalcrest planning first major expansion of retirement community in east Polk

    A Polk County community that was built in 1963 as low-cost housing for retired post office workers is planning for its first ever expansion. Nalcrest has applied to the county for a Comprehensive Plan Amendment (CPA) for 41 acres of undeveloped property north of the 500-unit retiree village. The...

  • Developer plans 300 apts on Orange Lake land west of Disney, GC/architect sought

    Developer plans 300 apts on Orange Lake land west of Disney, GC/architect sought

    Windermere-based multifamily developer Deion R. Lowery has more than 129 acres under contract from Orange Lake Resorts south of Disney World's growing Flamingo Crossings district, with plans for 300 Class A apartments to serve theme park staff.  Located on the western side of Lake Britt at its...

  • Local developer group seeks rezone for luxury senior condos in Kissimmee

    Local developer group seeks rezone for luxury senior condos in Kissimmee

    Orlando developer Tom Ginther is seeking a land use change and rezoning for 40 acres near Shingle Creek Regional Park for a luxury retirement development. "We're excited about it," Ginther told GrowthSpotter on Friday. "We think it's one of the most beautiful pieces of property in the city of Kissimmee."...

  • Atlanta investor pays $50.4M for Orlando apts, NJ-based seller seeks value-add

    Atlanta investor pays $50.4M for Orlando apts, NJ-based seller seeks value-add

    An affiliate of Atlanta-based multifamily investor M. Banks Realty Partners paid $50.4 million on Wednesday for the 288-unit Savannah at Park Central apartments, and the seller now seeks new investment opportunities in Greater Orlando. Located at 2691 Charleston Town Place, northeast of the intersection...

  • Two separate developers planning live-work spaces in Osceola County

    Two separate developers planning live-work spaces in Osceola County

    Two separate developers are in early-stage planning for combined live-work spaces on opposite ends of Osceola County. Broker Mark Allen with Commercial Real Estate Professionals met with county planning staff on Wednesday to discuss site plan issues for a three-parcel assemblage at the northeast...

  • Contractor pays $6.5M for Lake Ivanhoe site planned for 9-story apt tower

    Contractor pays $6.5M for Lake Ivanhoe site planned for 9-story apt tower

    An affiliate of design/build contractor FINFROCK paid $6.5 million on Thursday for the majority of a 2.41-acre site in Ivanhoe Village now home to the Baldwin-Fairchild Funeral Home, which is planned for a nine-story, 260-unit apartment complex by Winter Park-based Alliance Residential Company....

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  • AV Homes wants to build townhomes by new Valencia College Poinciana campus

    AV Homes wants to build townhomes by new Valencia College Poinciana campus

    Developer AV Homes is planning to build 102 townhomes within walking distance of the new Valencia College Poinciana Campus, but the plan would require converting approved residential lots in its luxury, gated Bellalago neighborhood for multifamily use. The 10-acre site is just south of the college...

  • Developer looking for partners on Rollins College student housing venture

    Developer looking for partners on Rollins College student housing venture

    Winter Park developer Chris Hughes believes he's found the right location and design for a student housing venture near Rollins College that will blend in with the downtown neighborhood. Hughes, a principal of Wekiva Capital Partners, is modeling his "cottage style" student housing development...

  • Lennar prepping for more condos in next phase of Storey Lake Resort

    Lennar prepping for more condos in next phase of Storey Lake Resort

    Lennar Homes has begun prepping its fourth phase at Kissimmee's Storey Lake resort community, which is now one of Osceola County's fastest-growing developments. Osceola County planning staff have already recommended approval for a Phase 4 Preliminary Subdivision Plan that calls for 297 condos to...

  • Picerne plans for 108-acre project near Lake Nona, new apts in East Orlando

    Picerne plans for 108-acre project near Lake Nona, new apts in East Orlando

    Altamonte Springs-based Picerne Development Corp. will seek a construction lender in the fourth quarter for its next multifamily project in East Orlando, and is lining up mixed-use plans for 108 acres under contract near Lake Nona, a lead executive with the company told GrowthSpotter.  Picerne...

  • Nvision & JV partner to rezone site near Valencia College East for student apts

    Nvision & JV partner to rezone site near Valencia College East for student apts

    Orlando-based Nvision Development Management Services and a Texas-based partner have 12.3 acres under contract south of Valencia Community College East, and got the ball rolling on Wednesday to rezone the site for a student housing project.  The group has completed due diligence since holding a...

  • Washington D.C.-based Kettler eyes Florida market entry in Celebration

    Washington D.C.-based Kettler eyes Florida market entry in Celebration

    A Washington, D.C.-area developer that specializes in multifamily mixed-use projects is eyeing its Florida market entry via Celebration. Kettler has filed a conceptual plan for an 18.4-acre commercial parcel on Celebration Boulevard, right next to Adventist Health Sytem's new $20 million skilled...

  • More restaurants and apartments in the works for ChampionsGate

    More restaurants and apartments in the works for ChampionsGate

    The nation's largest Panera franchisee paid $1.3 million last week for one of the last undeveloped lots in ChampionsGate Village. Covelli Enterprises owns and operates 77 Panera Bread locations in Florida, including 32 in the Orlando area. The company acquired the lot next to Red Robin, which faces...

  • Osceola staff wants major changes to Tavistock Sunbridge plan

    Osceola staff wants major changes to Tavistock Sunbridge plan

    Osceola County's planning staff is pushing for a dramatic rewrite of the Phase 1 master plan for Tavistock Development Company's Sunbridge project. Entitlements consultant Richard Levey and other members of the Tavistock team had an hours-long meeting in April with the county's Development Review...

  • Eaton Vance REIG affiliate pays $56.5M for Aqua at Millenia apartments

    Eaton Vance REIG affiliate pays $56.5M for Aqua at Millenia apartments

    An affiliate of Boston-based Eaton Vance Investment Managers paid $56.5 million on Tuesday for the 329-unit Aqua at Millenia apartments. Located at 5451 Millenia Lakes Blvd., the 8.23-acre property has five mid-rise apartment buildings of four stories each, and structured parking. Built in 2009...

  • Northland pays $65M for majority condo stake in The Paramount on Lake Eola

    Northland pays $65M for majority condo stake in The Paramount on Lake Eola

    Massachusetts-based Northland Investment Corporation paid a combined $65.25 million on Thursday for a majority commercial and residential stake in the 313-unit The Paramount on Lake Eola, a Downtown Orlando condominium tower. The company plans to invest more than $4 million in improvements to the...

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  • Atlantic Housing buys 18.5 acres in East Orange for apts near Valencia College

    Atlantic Housing buys 18.5 acres in East Orange for apts near Valencia College

    Winter Park-based multifamily developer Atlantic Housing Partners recently paid $2.74 million for 18.5 acres in east Orange County, where it plans to build a 238-unit apartment complex. A company affiliate purchased the property on North Chickasaw Trail from Chickasaw Property LLC on April 13,...

  • McKinley buys 12th apartment property near Universal theme parks

    McKinley buys 12th apartment property near Universal theme parks

    National multifamily owner-operator McKinley paid more than $43 million on Tuesday for its 12th apartment property in the Universal Orlando submarket along Conroy Road, buying the 320-unit Middlebrook Farms Apartments.  Located at 4000 Middlebrook Road just off the 5000 block of Conroy, the 42-acre...

  • Alliance Residential scales back Lake Ivanhoe tower plans for MPB approval

    Alliance Residential scales back Lake Ivanhoe tower plans for MPB approval

    After a month of significant tweaks to design, height and the project's mixed-use gameplan, Winter Park-based Alliance Residential Company earned approval Tuesday from Orlando's Municipal Planning Board for its proposed apartment tower in downtown's Ivanhoe Village.  City planning staff have supported...

  • Blackstone pays $175M for two Orlando multifamily assets, including 55 West

    Blackstone pays $175M for two Orlando multifamily assets, including 55 West

    The Blackstone Group paid a combined $175.25 million in a national portfolio deal last Thursday for two large multifamly properties in Orlando from Boston-based TA Realty, including one of Downtown Orlando's tallest towers.  The world's largest private equity firm paid $105 million for the 33-story,...

  • Austin apartment developer eyes Orlando market entry via Universal Blvd

    Austin apartment developer eyes Orlando market entry via Universal Blvd

    Austin-based multifamily developer Aspen Heights Partners is pursuing its Orlando market entry via 26 acres on Universal Boulevard, with plans filed Friday for a 418-unit apartment complex on a site that was under contract to a competitor last year, right between the future Topgolf, Andretti Indoor...

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  • Buyers & road work being lined up for 126-acre Apopka master-planned community

    Buyers & road work being lined up for 126-acre Apopka master-planned community

    A Tampa-based developer behind the 126-acre, master-planned Avian Pointe community in Apopka has prospective buyers for several of the segments, and could start construction this summer on a new interconnector road.  Initially proposed in 2014, the project was described at the time as Apopka's...

  • Contractors sought to aid mixed-use planning on Narcoossee Road lakefront

    Contractors sought to aid mixed-use planning on Narcoossee Road lakefront

    A Saudi Arabian investor will seek a landscape architect and more in the coming weeks to refine plans for 35 acres on Lake Whippoorwill east of the Lake Nona Landing shopping center, the project's development coordinator told GrowthSpotter.  Paperwork for a Specific Parcel Master Plan was filed...

  • Better Built Homes launching new townhouse project on U.S. 27

    Better Built Homes launching new townhouse project on U.S. 27

    Polk developer and homebuilder Jean Marsan has broken ground on a 40-unit townhouse development on the U.S. 27 corridor, just north of Heart of Florida Hospital. Marsan, owner of Marsan Realty and Better Built Homes, bought the 5-acre parcel on Holly Hill Grove Road in December for $182,000. The...

  • NY-based investor pays $64M for apts near Baldwin Park, plans $1M in reno

    NY-based investor pays $64M for apts near Baldwin Park, plans $1M in reno

    Affiliates of New York-based White Eagle Property Group paid more than $64.13 million in late March for the 480-unit Auvers Village apartments near Orlando's Baldwin Park, its 12th asset in Central Florida and second local acquisition within the past five months.  The company should invest another...

  • Developers continue to seek multifamily sites near Valencia College East Campus

    Developers continue to seek multifamily sites near Valencia College East Campus

    Another property owner near the Valencia College East Campus is seeking to revise the Expressway Center Planned Unit Development to build apartments. Private Equity Solutions (PES), which bought nearly 20 acres of mostly wetland property in the PUD, applied to Orange County within the past week...

  • Controversial apartment development in Dr. Phillips moves forward

    Controversial apartment development in Dr. Phillips moves forward

    Atlanta-based Wood Partners is moving forward with the second phase of its Dr. Phillips-area The Rialto apartments on Spring Lake. The developer filed a Development Plan (DP) with Orange County last week for the five-story complex, with only minor changes from the proposal that generated enough...

  • 2 multi-family properties near Disney sell for $102.3 million

    2 multi-family properties near Disney sell for $102.3 million

    Two large multi-family complexes on Little Lake Bryan near Walt Disney World Resort were sold by J.P Morgan Investment Management to affiliates of Ares Capital Corp., according to deeds dated March 24 and recorded in Orange County March 29. Chatham Square Multi-Family LLC sold its property at 8161...

  • Goldelm & Michaelson pay $19.4M for apts property on Conway Road

    Goldelm & Michaelson pay $19.4M for apts property on Conway Road

    An affiliate of Colorado Springs-based Goldelm Apartments paid $19.4 million on Thursday for the 200-unit Park at Salerno apartments in East Orlando, partnering on the purchase with a long-time minority stakeholder and property manager.  Located at 2100 S. Conway Road, the 9.5-acre property features...

  • CitiTower in Downtown Orlando lines up 1st retail tenant, on pace for July opening

    CitiTower in Downtown Orlando lines up 1st retail tenant, on pace for July opening

    Buffalo, N.Y.-based The Healthy Scratch may begin its expansion via Downtown Orlando, a prospective first retail tenant in the 25-story CitiTower apartments south of Lake Eola that's on pace to open in July, the building's developer told GrowthSpotter.  Serving cold-pressed juices, smoothies, toasts,...

  • Developer pitches new retirement community next to ChampionsGate

    Developer pitches new retirement community next to ChampionsGate

    Polk County developer Jean Marsan met with Osceola County planners Wednesday morning to get feedback on his proposal for a 156.4-acre gated retirement community on Bella Citta Boulevard, next to ChampionsGate. Marsan, owner of Marsan Realty and Better Built Homes, is proposing a total of 671 residential...

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  • Venterra pays $78.5M for District apts on Universal Blvd, drawn by retail value-add

    Venterra pays $78.5M for District apts on Universal Blvd, drawn by retail value-add

    Ontario-based multifamily owner/operator Venterra Realty paid $78.5 million on March 9 for the 425-unit The District apartments on Universal Boulevard, drawn to the value-add potential of vacant retail space in the growth epicenter of Orlando's tourism corridor, a lead executive with the company...

  • New York's United Group plans new apartment complex in Kissimmee

    New York's United Group plans new apartment complex in Kissimmee

    New York-based developer United Group is seeking site plan approval from the City of Kissimmee for a 108-unit apartment complex on John Young Parkway, about two blocks north of W. Vine Street. The Hamilton at Lakeside would be built on roughly 6 acres, accessing John Young Parkway via Bermuda Lakes...

  • Lennar files preliminary plan for more than 800 homes at ChampionsGate

    Lennar files preliminary plan for more than 800 homes at ChampionsGate

    Lennar representatives will meet with Oscoela County planners Wednesday to begin discussions for the next phase in ChampionsGate comprising approximately 821 new homes and condos. The Four Corners community is approved for more than 3,000 homes. The homebuilder has filed conceptual plans for a...

  • Downtown Winter Garden building nears construction, leasing agent sought

    Downtown Winter Garden building nears construction, leasing agent sought

    Winter Garden’s first downtown apartments in years are close to a construction start, and the developers are looking for restaurant, office, and retail tenants for the 8,600 square feet of commercial space planned for the ground level of a three-story mixed-use building. “We will hire a leasing...

  • Local contractor preps site for first multifamily development, seeks lender

    Local contractor preps site for first multifamily development, seeks lender

    A local general contractor may be seeking a construction lender in the coming months to get behind his first personal investment in commercial development, a 27-unit multifamily project in Southeast Orlando.  Located at 6847 Hoffner Ave., the 1.5 acres across two parcels lie just west of an intersection...

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