Raleigh, North Carolina-based multifamily developer Aventon Companies is quickly growing its presence in Orlando with a third confirmed apartment project in the Conway area and more in the pipeline.
The 348-unit project in the 5000 block of Hoffner Avenue is led by West Palm Beach developer Anthony “Tony” Solo. He won approval in 2019 for voluntary annexation into the City of Orlando and master plan approval for the apartment community called “Twelve Oaks.” At the time of the initial filings, Atlanta-based Trammell Crow Residential was the named developer.
Now Solo has filed construction plans with the Saint Johns River Water Management District for the project and identified Aventon as the new developer. Burk Hedrick, vice president of development for Aventon Companies, confirmed the plans and said Aventon is in the process of redesigning the apartment buildings with its own professional team.
The unit count would be the same, but the developer is seeking a modification to the plan that would increase the maximum building height from 37.5 feet to 40-feet. The plan calls for 12 apartment buildings spread across the 24-acre site with a large clubhouse and leasing office overlooking a 3-acre pond. Amenities include a pool and two spacious courtyard areas each with a fenced dog park.
Last month, Aventon paid $8.9 million for an entitled multifamily site on Maitland’s Lake Gem. The development site along Monroe Avenue lies on the northern tip of a larger master-planned community located between Lake Gem and Orlando Avenue.
Plans call for a five-story, mid-rise apartment building with 247 units and a five-story parking garage that can accommodate a little more than 400 spaces.
Aventon currently has over $350 million in projects under construction. In Orlando, it is in the midst of completing a 296-unit project called Aventon Alaira. The multifamily building is set to open this May in Lake Buena Vista, Hedrick said.
According to a news release, Aventon Companies intends to break ground on an additional 2,800 units with an investment of nearly $650 million in Florida, Georgia, the Carolinas, and the Mid-Atlantic. It has at least five communities under development in Florida, including areas in Orlando, Jacksonville, Tampa and Miami.