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Multi-Family Residential Developments

Epoch Residential plans new apartment community in Storey Park

Epoch Residential plans to start construction in December with delivery of the first apartments a year later, in 2023.

Storey Park, the Lennar master-planned community near Lake Nona, will be getting its first apartment complex right across from the amenity center and observation tower.

Winter Park-based Epoch Residential has filed a Specific Parcel Master Plan with the City of Orlando to build 324 apartments on the half-moon-shaped parcel on Biography Way south of Dowden Road. The 13.7-acre site is designated for future development in the Storey Park Planned Development.

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The conceptual site plan from Charlan Brock Architects calls for a mix of carriage units and 4-story and 5-story buildings, with the tallest buildings on a parking podium and in the center of the community forming a U-shaped courtyard for the community pool. The clubhouse will be incorporated into that central building.

Two of the buildings fronting Dowden will have tuck-under tandem parking, and a total of 20 carriage house units will be spread among four two-story buildings. The unit breakdown includes 26 studios, 138 one-bedroom units, 128 two-bedroom units and 32 three-bedroom units.

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This conceptual plan shows a mix of 5-story podium buildngs, 4-story buildings and carriage house units.

Lennar is completing its roughly 330-acre Storey Park development, which features a mix of approximately 1,140 different home sites, including townhomes and cottages. The homebuilder has approximately 422 available homesites remaining, according to its website.

Just a quarter-mile down the road, Cornerstone Group affiliate Brookstone Partners is pre-leasing its 385-unit Urbon at Nona apartment homes at the southeast corner of Dowden and S.R. 417.

Epoch Residential has been active in the Orlando market. The developer has completed and sold three Class A communities last summer, including the 250-unit Veer Apartments at O-Town West. The firm sold the project to Blackfish Investments for $68.5 million, or or $274,000 per unit.

Also in 2021 Epoch sold its 280-unit Kestra Apartments community at 10387 Vista Oaks Ct. for $79.8 million, or $285,000 per unit, to CBRE Global Investors, the real estate investment arm of commercial brokerage CBRE. The occupancy was 97% at the time of the transaction. The community, completed in 2020, features a clubhouse, resort-style swimming pool and spa, fitness center, bike repair shop, business center and controlled access into units.

Finally, in July of that same year, Epoch sold the 296-unit Sonceto apartments in Kissimmee to Texas-based ApexOne Investment Partners for $77.256 million. It was the first of three residential communities the developer built in the Flora Ridge Planned Unit Development.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.


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