Multi-Family Residential Developments

  • Orlando low-income apts site under contract, $15M in renovations planned

    Orlando low-income apts site under contract, $15M in renovations planned

    A Cleveland-based manager of the 256-unit Windsor Cove apartments in west Orlando has the property under contract, and is planning a $15 million redevelopment of the low-income housing community. Millenia Housing Companies took over management of the property in March as part of a portfolio of...

  • Lantower Residential pays $59.5M for 3rd multifamily asset in Orlando

    Lantower Residential pays $59.5M for 3rd multifamily asset in Orlando

    Dallas-based multifamily owner-operator Lantower Residential paid  $59.5 million on Wednesday for the recently completed 282-unit Oasis at Grande Pines apartments in Orlando's tourism corridor, its third local asset buy in the past three years. Located at 11660 Westwood Blvd., the 16.44-acre site...

  • Harbor Group pays $97.1M for 2nd Orlando-area new apts asset this year

    Harbor Group pays $97.1M for 2nd Orlando-area new apts asset this year

    Virginia-based commercial real estate investors Harbor Group International paid $97.1 million this week for its second Orlando-area asset this year, buying the recently completed  449-unit Elan @ Audubon Park apartments in Orlando.  Located at 990 Warehouse Road, the 19-acre property lies northwest...

  • Single-family homes segment in flux for 126-acre Avian Pointe in Apopka

    Single-family homes segment in flux for 126-acre Avian Pointe in Apopka

    A Tampa-based developer behind the 126-acre, master-planned Avian Pointe community in Apopka is revising plans for its multifamily segment, and may now have a 30-acre parcel once under contract to D.R. Horton back on the market.  The massive land assemblage features frontage to the east along S.R....

  • Bainbridge buys Ravaudage apts site in Winter Park, eyes early December start

    Bainbridge buys Ravaudage apts site in Winter Park, eyes early December start

    Wellington, Fla.-based The Bainbridge Companies paid $6.95 million on Monday for a 3.7-acre site in Winter Park's Ravaudage development, with early December targeted for groundbreaking on a planned five-story, 278-unit apartment complex with some of the multifamily market's newest amenities.  Located...

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  • Osceola's proposed school impact fees could spell 'disaster' for new apartments

    Osceola's proposed school impact fees could spell 'disaster' for new apartments

    Osceola County school officials are working on a major rewrite of the district's School Impact Fees that could have widespread effects on development countywide, with some types of projects to pay double their current fee and others to reap huge savings. Sarah Graber, chief financial officer for...

  • Orange County seeks developers for affordable multifamily housing

    Orange County seeks developers for affordable multifamily housing

    Orange County is looking for developers to build affordable multifamily housing in five neighborhoods of need, and has more than $3 million available to help fund it, according to a Request for Proposals (RFP) issued this week.  The county has budgeted $3.2 million of Neighborhood Stabilization...

  • BlueRock RE spends $183M+ for apts in Hunter's Creek & MetroWest

    BlueRock RE spends $183M+ for apts in Hunter's Creek & MetroWest

    National real estate investment firm BlueRock Real Estate spent $183.5 million this week for two value-add apartment properties in Orlando totaling 1,042 units, giving it three acquisitions in the region within the past month.  The company paid $97.5 million for the 532-unit Arium Hunter's Creek...

  • Developer keys in on sites next to Valencia campuses for apartments, townhomes

    Developer keys in on sites next to Valencia campuses for apartments, townhomes

    Orlando developer and engineer Kal Hussein is teaming up with Park Square Homes' Suresh Gupta for a pair of projects next to Valencia College campuses in Orange and Osceola counties. Hussein's KRDK Investments, LLC has a purchase contract for 17.3 acres on Kissimmee's E192/Vine Street corridor,...

  • Reunion developer introduces new condo hotel plan at golf resort

    Reunion developer introduces new condo hotel plan at golf resort

    The master developer of Reunion Resort appears to have scrapped plans for a 300-room conference hotel at the resort in Osceola County in favor of a new pedestrian-friendly condo development. Encore Capital Management filed a new Preliminary Subdivision Plan (PSP) for the 46 acres that span both...

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  • Developer wants to build affordable senior housing in St. Cloud's Stevens Plantation

    Developer wants to build affordable senior housing in St. Cloud's Stevens Plantation

    A Winter Park developer who just completed the second Madison Crossing senior housing complex on Kissimmee's E192 is eyeing a lot on St. Cloud's Stevens Plantation for a similar project. American Residential Development LLC (ARD) currently has a $1 million purchase contract for 4.5 acres in Stevens...

  • National apartment developer considers two new sites in Downtown Eustis

    National apartment developer considers two new sites in Downtown Eustis

    National multifamily developer The Richman Group is discussing building two apartment projects in downtown Eustis on non-adjacent lots, a lead official with the city told GrowthSpotter.  The discussion is preliminary at this point, said development services director Lori Barnes, who added a key...

  • Taiwanese investors pursue final phase of Vista Cay Resort vacation condos

    Taiwanese investors pursue final phase of Vista Cay Resort vacation condos

    A pair of Taiwanese investors by way of Ormond Beach want to build out the final phase of short-term rental condominium buildings at Vista Cay Resort, set between the Orange County Convention Center and Universal Boulevard.  Yun-Chung Hsueh and Hsiu Lan Tu, who split time between Vancouver and...

  • Global CRE investment group pays $42M for student apts near UCF

    Global CRE investment group pays $42M for student apts near UCF

    An affiliate of global investment group TH Real Estate paid more than $41.8 million last week for the Orion on Orpington student apartments near the University of Central Florida.  Located at 12700 Orpington St. directly south of Central Florida Research Park, the 21-acre property has 13 three-story...

  • Disney reaches deal with Mattamy Homes for Celebration Island Village

    Disney reaches deal with Mattamy Homes for Celebration Island Village

    The Celebration Company has agreed to sell the fifth and final residential village of the Disney master-planned community to Mattamy Homes. Alex Martin, Orlando Division president for the Canada-based homebuilder, told GrowthSpotter that Mattamy would purchase the 350-acre Celebration Island Village...

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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...

  • 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...

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  • 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....

  • 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...

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  • 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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