Nvision building first Class-A apartments in Lake Wales in 15 years

Polk County’s apartment building boom is moving south along the U.S. 27 corridor, with construction now underway on the $55 million Serenity at Lake Wales, the first new Class-A multifamily to be built in the municipality since 2005.

Maitland-based Nvision Development, and owner/operator NM Residential have partnered on the 335-unit community just north of Eagle Ridge Mall.

“We looked around and toured all the properties, it became very clear to us that this is something that is very much needed in this community,” Nvision President Ian McCook said.

The Slocum Platts -designed community will consist of 3-story, walk-up buildings with a mix of one-, two- and three-bedroom units. Typical units will feature stainless steel appliances, open floor plans, walk-in closets, granite countertops and faux wood floors. In addition to those features, balconies and solariums will be available on select units.

“We like to be the first out of the ground in a new market. We are excited to be in Lake Wales with our new product before anyone else,” said Michael Niederst, CEO of NM Residential.

Project manager Renese Johnson told GrowthSpotter the finishes at Serenity at Lake Wales would be comparable to Champions Vue, another luxury apartment community the two firms co-developed in the ChampionsGate submarket. The newest site at 1040 Chalet Suzanne Rd. is perfectly situated behind a Publix-anchored retail plaza.

“There’s a shortage of multifamily development in the City of Lake Wales, so we saw an opportunity there,” Johnson said. “It’s in a location that’s surrounded by commercial development, so it’s in the perfect little pocket. The city’s been really supportive. They were very excited to see this, and we got lucky because we were able to execute everything quickly.”

The amenity package includes a 6,500-square-foot clubhouse featuring a club room, on-site leasing office, a business center, fitness center, package concierge, screened porch, a resort style pool area, outdoor kitchen and grill, and a gazebo overlooking the lake. There’s also a dog park and multiple walkways throughout the project. Residents will have access to an on-site car wash center and playground.

Foster Conant & Associates is the landscape architect. Winter Park Construction is the GC. Johnson said the slabs have been poured for all 13 residential buildings and the clubhouse, and framing should begin after the new year.

Just across U.S. 27, the City of Winter Haven has approved a Mixed-Use Planned Development called Preserve at Lake Ashton, which is entitled for 1,747 residential units. The PD calls for 49.4 acres of multifamily development on three sites, including one closest to U.S. 27 that neighbors a commercial site and a 1.4-acre urban farm.

More apartments and commercial development are slated for the intersection of U.S. 27 and Cypress Gardens Boulevard, about 1.5 miles north of Thompson Nursery/Chalet Suzanne Road. Those include a 77-acre mixed-use district entitled for 183,000 square feet of retail space, 210 apartments and a 110-room hotel .

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.