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Aventon Companies kicks off plans for second multifamily development in Lake Buena Vista

Aventon Companies is building a 247-unit apartment community next to Lake Gem in Maitland.
Aventon Companies is building a 247-unit apartment community next to Lake Gem in Maitland. (Aventon Companies)

Aventon Companies wants to double down in Lake Buena Vista.

The North Carolina-based company was listed in plans submitted in Orange County as the developer for the second phase of its 296-unit Aventon Alaira apartment community at 6011 Vineland Resort Way.

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According to plans, the multifamily company is seeking to build an additional 308 rental units on about 12.5 acres just south of the recently opened Alaira complex.

Orlando-based Intram Investments is the contracted seller. The company began assembling land east of the Lake Buena Vista Factory Stores several years ago.

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The developer is under contract to sell more than 10 acres of land north of its Sunrise City Plaza project that lies directly south of the Orange/Osceola county line.

Last year, Aventon paid $7.27 million for the 10.7-acre site where Aventon Alaira is currently. That same year, the Poinciana Boulevard roadway was completed within Intram’s land assemblage.

The roadway trails along the proposed multifamily complex toward the east and cuts between the recently completed Alaira apartment community to the north. The Central Florida Greeneway (S.R,. 417) and S.R. 535 intersection is located to the west of the properties.

Conceptual plans show the new apartment community will feature three multifamily buildings ranging between 4- and 5-stories in height. Apartments will have a mix of one-, two- and three-bedrooms. A community clubhouse and pool are also featured in plans.

The proposed 308-unit multifamily development lies just south of the recently completed Aventon Alaira community in Lake Buena Vista.
The proposed 308-unit multifamily development lies just south of the recently completed Aventon Alaira community in Lake Buena Vista. (Orange County Property Appraiser/Orange County)

The second phase will likely feature similar amenities as its sister project to the north, where three-bedroom apartments are currently asking about $2,300 per month in rent, according to Apartments.com.

Residents at the Aventon Alaira gated community have access to pet play areas, pet washing stations, a business center, a clubhouse, a fitness center, bike storage, grilling stations and a pool area with a sundeck and cabanas.

The Raleigh, North Carolina-based developer is quickly growing its presence in Orange County. Earlier this year, GrowthSpotter reported the company was taking over plans for a proposed apartment community in Orlando’s Conway neighborhood.

The 348-unit project along Hoffner Avenue joins a portfolio of projects in the pipeline for Aventon in Orange County, including a planned 247-unit multifamily community on the shores of Lake Gem in Maitland.

The second phase of Alaira would be its fourth multifamily project in Orange County.

In Florida, Aventon Companies has communities in Orlando, Jacksonville, Tampa and Miami. According to a news release, the firm intends to break ground on 2,800 units throughout Florida, Georgia, the Carolinas, and the Mid-Atlantic this year. Its founders are former Bainbridge Companies principals.

Representatives did not immediately respond to requests for comment.

Its newest proposed development in Lake Buena Vista is near Intram’s Sunrise City mixed-use development, located just south of the county line. The retail portion is anchored by Publix, while the residential portion has two completed apartment communities and two more in the pipeline.

A joint venture between Northwood Ravin and Tampa-based Framework Group is currently building Sunrise Orlando, a 465-unit luxury complex that would feature a huge resort-store pool with its own lazy river.

Intram sold the multifamily development sites in Sunrise City for a combined $45 million.

The company, founded in 1991 by Rashid Kathib, developed the Plaza Venezia shopping center on Sand Lake Road in Dr. Phillips and Posner Village in Polk County.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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