UPDATED: FEBRUARY 21, 2019 3:45 PM — Winter Park-based Epoch Residential will break ground in the next 30 days on the a pair of multifamily communities totaling 448 units in Kissimmee's LOOP submarket.
The luxury multifamily developer closed last week on 74 acres in the Flora Ridge Mixed-Use PUD, east of Dyer Boulevard and about a third of a mile south of Osceola Parkway. Epoch paid about $6.5 million for the property, which has approved plans with the city of Kissimmee for up to 788 dwelling units.
Epoch President Justin Sand told GrowthSpotter the project is divided into the three phases, but Epoch will build the first two phases concurrently, along with the extensions of Ball Park Road and Thacker Avenue. The developer is awaiting final permit approvals from the city.
Phase 1 is a 296-unit Class A apartment community with a combination of 4-story elevator-served buildings and 3-story walk-up garden apartments. Phase 2 will be a separate 152-unit active adult community, Sand said.
"It's been a long time since Epoch has done anything in this submarket," he said. "It will be comparable to Integra Sunrise Parc and the projects by Fore Property Company. It's not like anything we're building in Orlando."