Multifamily developer Alliance Residential Company is close to securing the site of its next development in Central Florida.
The company is under contract to purchase about 18 acres of land on the southeast corner of Avalon Road and Hartzog Road, according to a recently filed Development Plan titled Avalon Pointe Apartments.
Plans call for a 300-unit garden-style apartment community equipped with a one-story, roughly 4,000-square-foot clubhouse and amenity pool area. Other features in the site plan show the project will include 0.75 acres of recreational space, a dog park and pedestrian paths encircling a pond within the community.
The 18 acres are part of a larger 38-acre portfolio owned by an affiliate of Connecticut-based Westport Capital Partners. In August, GrowthSpotter reported that the firm was amending the property’s Land Use Plans so it may divide the land into two parcels.
The northern parcel is the property under contract with Alliance, while the southern 20-acre parcel was amended to allow for up to 300 short-term rental units.
BTI Partners is partnering with Westport on the project. In a previous interview with GrowthSpotter, BTI chief operating officer, Kevin Mays, said the southern parcel will feature mid-rise condominium-style suites.
Both properties stand to benefit from its proximity to major attractions, like the Disney theme parks. It sits less than four miles from Walt Disney World’s western gate.
Alliance Residential bills itself as one of the largest multifamily companies in the nation, having invested in more than $10 billion worth of real estate and managing a $15 billion portfolio.
The company has an office in Winter Park and has made news in recent years with large developments throughout Central Florida.
Last year, GrowthSpotter reported that the firm was bringing its Broadstone apartments brand to Sanford. The firm is behind bringing a 260-unit rental project on the southwest corner of International Parkway and S.R. 46.
In Orlando’s MetroWest neighborhood, it manages the Grand Reserve at Kirkman Parke condo community at 3301 S. Kirkman Road.