A deed recently recorded deed in Orange County shows the developer paid about $12.8 million for roughly 13 acres at 7575 Universal Blvd. where it’s planning to build a new 330-unit apartment complex called Bainbridge Sand Lake.
The property is located near Lockheed Martin’s Sand Lake facility and Universal’s third Orlando theme park, Epic Universe, which is under construction on hundreds of acres between Sand Lake Road and Universal Boulevard, next to the 1.7-mile extension of Kirkman Road.
According to Bainbridge’s website, the luxury apartment community is expected to open next year. A notice of commencement has not yet been filed in Orange County. Bob Thollander, Bainbridge’s president of development in Florida, could not be reached for comment.
Plans call for three, five-story multifamily buildings that will feature views of a large lake to the south of the property. Amenities include a two-story clubhouse with access to a resort-style pool, a game room, a bark park, and a state-of-the-art fitness center. Residents will also have access to single-story garage buildings for storage.
The property on the southeast corner of Universal Boulevard and Carrier Drive sits across two new apartment projects under construction, including a 399-unit infill project on the former Republic Square shopping plaza planned by California-based Legacy Partners. The developer paid $11.5 million for the 11.4-acre property in 2020 and began marketing the project last summer.
Around the same time, Ohio-based apartment developer Edwards Communities and partner Silver Hills Development paid $9.1 million for 9.1 acres at 5885 Lakehurst Dr. where it’s near completing a 511-unit apartment community called Silver Hills At Universal.
All the multifamily construction is happening at the same time Universal’s parent company Comcast Corp. is building Epic Universe. The Philadelphia-based cable giant announced during its fourth-quarter earnings that the new Orlando theme park is slated to open by summer 2025.
Bainbridge has other developments in the pipeline in Orlando’s tourism corridor. Further north, it’s redeveloping the long-closed Mystery Fun House site into a new apartment community with nearly 400 units. Records show the company has yet to purchase the property at 5767 Major Boulevard.
Bainbridge is also under contract with Intram Investments to purchase and develop around 16 acres of vacant land at 14051 International Dr. with plans to build a new 342-unit apartment community called Bainbridge World Center.