With the recent opening of The Lucent at Sunrise, Northwood Ravin is bringing one of the most robust amenity packages in the Kissimmee multifamily market and making it available to tenants for as little as $1,200 a month.
That’s because, in addition to the two spa-like pools, first-ever lazy river, golf simulator, fitness center, steam rooms, sauna, concierge service and even a pooch-friendly water park, the developer has introduced the first co-living concept to Osceola County. The 4-bedroom, 41/2-bath floorplan is leased by the bedroom. Roommates share the furnished common living space and kitchen.
Assistant Community Manager Amanda Lorente said Northwood Ravin provides the roommate matching service and furnishes the living areas. Each bedroom has its own en suite bathroom, walk-in closet and lock. The two larger bedrooms in the unit have private balconies and rent for $1,400 a month. The two smaller bedrooms rent for $1,200 a month. Each resident pays a flat rate for their utilities, and the rent includes Wi-Fi with TV streaming services and access to all those amenities.
Lorente said the co-living units have been so popular NR currently has a waiting list for future units when they become available. In all, The Lucent has three dozen floorplans to choose from. Rents start at $1,658 for an efficiency studio with 496 square feet and top out at $3,471 for a 3-bedroom 3-bath unit with 1,522 square feet.
The complex, one of five planned in the mixed-use Sunrise City development on Vineland Road at Osceola Parkway, will have a total of 465 units in two sections. So far, building 1 in the southern portion is the only one that’s completed, and it’s about 60% leased. NR is already pre-leasing for building 4, which will open on June 2. Lorente said subsequent buildings should receive certificates of occupancy between August and December.
The business center has ample workspace and private conference rooms available on a first-come first-serve bases. The dog parks, mail center and car wash station are still under construction. The poolside entertainment pavilion known as “the jewel box” and adjacent grilling stations will open April 24. And the lazy river, especially inviting with its three waterfalls, opens in June. “We get more questions about the lazy river than anything else,” Lorente said. “They’re all waiting for this to open.”
The lazy river isn’t just a first for the Orlando multifamily market, it’s a first for Northwood Ravin, which is known for its over-the-top amenities. The dog-friendly splash park is also a first for the Charlotte-based developer. “We don’t have any photos because we’ve never done one before,” Lorente said.
Once the complex reaches 50% occupancy, NR will open the coffee bar, which will be staffed with a barista serving complimentary beverages. The complex also will launch its 24-hour concierge service, which includes accepting and delivering packages, inspecting the grounds and scheduling services, such as the on-site fitness trainers and contracted massage therapists, aestheticians and chiropractors. The complex has a private room near the fitness center designated for those services.
Developers have been experimenting with co-living and microunit offerings in response to growing demand for more affordable housing in high-rent submarkets, like Orlando’s urban core.
Property Markets Group (PMG) is currently building its 484-unit Society Orlando tower at 434 N. Orange Ave., across from the Orange County Courthouse and will deliver its first units in the fall. This is one of a half-dozen “Society” branded communities from PMG meant to provide highly amenitized lifestyles with attainable rents in cities such as Miami, Atlanta, Denver and Nashville.
Nick McManus, Senior Director of Construction at PMG, told GrowthSpotter that nearly 30% of the total units will be designed for co-living. “A four-bedroom layout was converted to a three-bedroom plus den to provide the best value for residents,” he added. “These units have leased exceptionally at our other Society buildings.”
The rest of the PMG apartments will be mostly studios and 1-bedroom units, which tend to be smaller than traditional market-rate apartments.
Other co-living/micro-unit projects, such as Vive on Eola from Dix Development and The Signature from Sono Development Group, have been proposed or approved in downtown Orlando but never got off the ground. RDIP Principal Susan Morris, who represents the property owner for the former Signature site said they’re looking for a joint venture partner to co-develop the site next to Dr. Phillips Center with up to 20% co-living units.
The Pixon in Lake Nona has a handful of 360-square-foot microunits among its floorplans, but Tavistock Development Company hasn’t included them in future projects on the boards. In fact, its newest project, the Kelson Apartments, will offer larger floorplans, with carriage house units and the first double-height loft-style floorplans in its 4-story buildings.
Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.
