Tampa-based Mercury Advisors is bringing on Taurus Investment Holdings to build the first phase of apartments within its massive Avian Pointe community.
Plans submitted to the City of Apopka list Taurus as the developer of a 276-unit garden-style multifamily community along the Western Beltway (S.R. 429), adjacent to the townhomes underway in Avian Pointe.
Allen Peacock, Taurus’s senior vice president of development in the United States, told GrowthSpotter the development will include a resort-style pool and pool deck, a state-of-the-art clubhouse, and a “robust” amenity package for residents.
The apartments feature units with a mix of one-, two-, and three-bedroom units, as well as a dog park, large community garden and several garages/storage buildings. NV5 is the civil engineer.
Frank Bombeeck, a director of Mercury Advisors, said Avian Pointe can accommodate an additional 204 multifamily units, in which Taurus has first right of refusal.
Plans for the entire master-planned community call for more than 750 residential units across of mix of single-family homes, townhomes and multifamily units. The master-planned community will feature a large amount of community/recreational space that will include multiple sports fields, courts and public parks.
Just recently, Orange County Public Schools paid $1.8 million for about 15 acres at the southernmost tip of Avian Pointe with plans to develop a new K-8 school.
In January, D.R. Horton paid $3.95 million for a 56-lot build-for-rent subdivision within Avian Pointe as part of the first phase. Earlier this summer, the homebuilder doubled down and paid a little over $4 million for the first 118 townhome lots in the community.
Bombeeck said the D.R. Horton is nearly complete building the single-family rental community and is currently working on selling and building the first couple of townhomes in Avian Pointe. Infrastructure for the second phase of townhomes (102 townhomes) is slated to be complete before the end of this year, he adds.
Avian Pointe is located near where companies like e-commerce giant Amazon, Goya Foods, Universal Studios Orlando and Coca-Cola Co. are building or planning to lease distribution centers.
Taurus recently expanded its multifamily holdings in Central Florida.
According to a deed recorded in Orange County earlier this month, Taurus bought the 280-unit Summit at MetroWest apartment community at 6500 Metrowest Blvd. for $59.5 million. The deal for the apartment complex breaks down to $212,500 per unit.
Taurus is also the developer behind the112-acre Beltway Commerce Center near Orlando International Airport.
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