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Osceola County Developments

Mill Creek Residential eyes Osceola site for newly launched BTR brand

One of Orlando’s busiest multifamily developers is eyeing a site in Osceola’s East of Lake Toho Mixed-Use District for its recently launched single-family rental home brand.

Mill Creek Residential Trust launched its Amavi brand in December and already has projects underway in North Carolina and Texas featuring a mix of detached, townhome and cottage-style single-family rentals with private yards, garages and smart-home technology.

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The company has submitted a Concept Plan for a community called Amavi St. Cloud on Clay Whaley Road at the Cross Prairie Parkway, just west of the Florida’s Turnpike interchange at Kissimmee Park Road. The CP calls for 246 attached units on nearly 30 acres. The property abuts Phase 2 of Crossprairie, the 1,400-acre master-planned community now in development by BTI Partners, and it’s immediately south of a future high school site.

BTI broke ground last on Phase 1 of the community, just across the Cross Prairie Parkway, and announced three homebuilders for the first 568 lots. They are Meritage Homes, M/I Homes and Jones Homes. The same three homebuilders are under contract for the balance of Phase 1, which comprises 504 additional lots, and are scheduled to close in the third quarter.

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Amavi homes feature high-quality interior finishes, smart thermostats, water leak detection, real-time water and energy use monitoring, and smart access control. In addition, Amavi communities will incorporate energy-efficient construction and green spaces in highly desirable suburban locations. A typical Amavi community includes an amenity package consisting of a clubhouse and leasing office, swimming pool and cabana, outdoor barbecue and gathering areas, playground, pet park, open green space and walking trails. The communities also feature modern streetscapes and aesthetically manicured common areas.

“Amavi communities will carve out a unique place in this sector because their product offerings, amenities and interior finishes will be tailored to each individual community and submarket,” Callum Parrott, president of single-family rentals at Mill Creek, said at the launch. “Each community will feature its own custom mix of home types designed to the needs of that market’s renters.”

The CP was on the Osceola County Development Review Committee agenda for Wednesday but was tabled until June 15. The property is owned by an affiliate of Orlando investor Yitzhak Benbassat, who purchased it in January for $2.5 million. The developer will be required to sign a participation and collaboration agreement with the county regarding future transportation improvements and will have to comply with the county’s new architectural standards, which could prohibit front-loaded townhomes.

While this would be Mill Creek’s first SF rental community in the region, the company already has an established presence in Orlando through its Modera multifamily brand. The Boca Raton-based developer recently sold its 350-unit Modera Central tower in downtown Orlando and is teaming up with Highwoods Properties to build another a 22-story residential tower across the street called Modera South Eola.

The company is now leasing its brand new Modera Creative Village, and it recently filed plans for Modera Baldwin Park, a proposed 400-unit apartment building just east of Orlando Fashion Square Mall.

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.


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