ContraVest plans another Addison multifamily development for active area

Contravest is planning 218 apartments along Winter Garden Vineland Road in a quartet of 4-story buildings across the street from Grand Cypress Resort west of Apopka Vineland Road.

Addison at Cypress Sound would have more than 180 one- and two-bedroom apartments with a handful of studios and three-bedroom units as well. The property offers easy entrance to Walt Disney World property.

Of the 15 acres where Addison at Cypress Sound is planned, approximately half of it zoned commercial according to Orange County records. The land was purchased by Dijon Real Estate LLC in 2014 for $2.5 million, records show.

The Winter Garden Vineland Road area has been home to multi-family activity in recent months. Epoch Residential is building a 280-unit apartment complex called Kestra on 12 acres about 2 miles to the northwest while Unicorp National Developments recently built Zen Luxury Living in the same area.

On Palm Parkway a couple of miles to the east, Epoch plans another 250 units expected to be completed by the end of 2019. And Unicorp's O-Town West mixed-use project includes apartments.

Altamonte Springs-based Contravest has several Addison-branded apartments across the Metro Orlando area. The 292-unit Addison on Millenia apartments are a joint venture with BBX Capital Real Estate in the Gardens on Millenia development, while the 344-unit Addison at Universal is in the works on Universal Boulevard near Destination Parkway. Other locations include Clermont and Windermere. Contravest also plans lakefront apartments on South International Drive.

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