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Phoenix-based Curve Development will build one of its signature Cyrene-branded Build-for-Rent communities in Osceola County’s Harmony master-planned community.
The developer, which is affiliated with private equity firm JEN Partners, filed a Site Development Plan with Osceola County for the 17.3-acre site on U.S. 192 at the entrance to Villages of Harmony, now in development by D.R. Horton/Forestar. Curve entered the Florida market this year with its first project in the Tampa region followed by a second project in The Hills of Minneola.
Sun Terra Communities sold all of Harmony West/Villages of Harmony with the exception of one 40-acre parcel fronting on U.S. 192. It was initially considered a future multifamily development site, but the master developer opted to sell half to D.R. Horton for more fee-simple townhomes and to partner with Curve to build 140 purpose-built rental townhomes on the other half. The Curve plan calls for a gated community with a mix of one-story and two-story townhomes with either three or four bedrooms. Each unit would have its own garage and driveway.
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“The community itself is in a premier location inside the Harmony West masterplan development,” Curve Marketing Director Morgan Mallory said. “We celebrate small-town serene living in the heart of Central Florida.”
Mallory said Curve designed the houses with the same high level of architectural details found in for-sale homes. Each is constructed with hardwood-inspired plank flooring, kitchen islands, stainless steel appliances, quartz kitchen countertops, and SMART home technology. Each unit has a fenced backyard and pet-friendly doggy door. “At Curve, we believe each community should feel and live as a typical single-family residential neighborhood, and that is just what we are doing. This specific community will have a pool, fireplaces, BBQ Station, neighborhood park, and a dog park,” she added.
Curve joins BFR developers American Homes 4Rent and Christopher Todd Communities, which also have projects in the pipeline in the Narcoossee/St. Cloud submarket.
While apartments won’t be built in Harmony West, the new owners of the Harmony Town Center are moving forward with their plans to build a 377-unit rental community called Harmony Cove on 15.7 acres.
Coastline-Nakash Equity Capital Group, or CNE, and its partners have paid a combined $21 million this summer to acquire the Harmony Town Center, Business Park and an undeveloped industrial site next to Harmony High School. They filed a Site Development Plan and applied for Environmental Resource Permits for the apartment project.
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The design calls for seven midrise elevator-served buildings with a separate pool and clubhouse for the residents. Ground-floor apartments would have private gardens while the upper floors would have balconies. The estimated budget is $65 million.
The partnership includes Transamerican Development Corp. and developer Moti Maximoff. They have plans for a major retail expansion in the mixed-use community. The CNE-Transamerican group wants to bring a standard-sized grocery store into the community with several commercial outparcels that could accommodate restaurants, medical offices, a bank or a charter school.
They also plan to convert an existing office building across from the clubhouse into a Bed & Breakfast or boutique hotel to complement the wedding business at the club and event garden next door.
Senior Analyst Joey Lazerowitz told GrowthSpotter the partners are in the process of redesigning the industrial project to more closely align with market needs.
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.