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Toll Brothers wants to develop a student housing project near UCF

Toll Brothers Apartment Living set in motion plans to build a 170-unit student housing community on Colonial Drive.
Toll Brothers Apartment Living set in motion plans to build a 170-unit student housing community on Colonial Drive. (Orange County)

Toll Brothers is looking to build a new student living project near the University of Central Florida.

Through its Toll Brothers Apartment Living subsidiary, the company put in place plans to build a 170-unit student housing community at 12727 E Colonial Drive. The development will feature 680 beds.

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According to a recently filed Land Use Plan in Orange County, the real estate firm is requesting to rezone 8.2 acres and increase density to move forward with construction.

The three-parcel property is owned by mixed group of companies including: KMP Properties, Cordner IV, and East Colonial Investments LLC.

The former Burlington store near UCF will be demolished to make way for new student housing.

Kimley-Horn and Associates is the engineer. James McNeil Jr. at Akerman LLP is the legal counsel. Dustin Aukland, a director at Toll Brothers Commercial, is listed on development plans.

The developer is also in the midst of completing a 1,100-bed luxury student housing project in Miami by Florida International University.

Other universities where it has developments include Penn State in Pennsylvania and Emory University in Atlanta.

Toll Brothers joins other developers in the area with planned or recently completed student housing projects by UCF.

Nearby, Athens, Georgia-based Landmark Properties wants to redevelop a Burlington store at 12151 E. Colonial Dr. into a 151-unit student housing development.

Last year, Catalyst Development Partners opened the Coda Apartments. The new $42 million multifamily project at 13645 E. Colonial Dr. features 296 units. Its sister project, the EOS Apartments sold for $52 million in 2016 after it was completed in late 2014.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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