Atlanta-based real estate firm Davis Development is taking helm of a new apartment community in Horizon West.
At the time, Thomas Hewitt, a managing member at Hewitt Properties, told GrowthSpotter the partners were under contract to sell the land to a “well-known” multifamily developer based out of Atlanta after procuring entitlements.
The DP recently cleared Orange County’s Development Review Committee with unanimous approvals, with Davis listed as the developer. The development team is expected to submit a Preliminary Site Plan before moving ahead with the project.
If approved, the community would rise on a 15.7-acre parcel at 10958 Avalon Rd. The land is currently owned by Avalon Properties LTD., which is an entity led by principals at Hewitt Properties and C&R Land Development.
The land fronting Avalon Road is part of a larger 270-acre property that the company acquired in 1997 for about $1.9 million. Between 2013 and 2015, it sold off portions of the land to Lennar Corp. for a total of $18 million. The home-building giant is near completion of its Storey Grove single-family community on the land.
Just north of the multifamily community, D.R. Horton is actively seeking entitlements for a roughly 38-acre parcel at the southwest corner of Flamingo Crossing Boulevard and Avalon Road, for a village center that may accommodate up to 351 multifamily units, 105,000 square feet of commercial space and 79,453 square feet of office space.
The recently proposed apartment complex just south of the D.R. Horton site would consist of a mix of one-, two- and three-bedroom units across four separate buildings, one of which will feature a clubhouse that will be adjacent to an amenity area and retention pond.
Davis Development is a private multifamily development and management firm that operates throughout the United States. In the last two decades, the company has completed and managed more than 50,000 multifamily units, according to its website.
As of late, a good portion of that activity has been in Florida. In southeastern Manatee County, the developer is planning more than 1,600 units in and around the master-planned Lakewood Ranch community, according to recent reports.
The firm specializes in delivering upscale apartment complexes in fast-growing communities like Horizon West. This would be its first multifamily community in Orange County.
In Sanford, Davis recently delivered a 338-unit apartment complex called Vera Sanford by Cortland. An affiliate company paid $4.5 million for the 22.5-acre property in 2016.