Tavistock Development Company has given a new name and construction start date to its planned 11-story mixed-use building in Lake Nona, which will feature Greater Orlando's first offering of urban micro-apartments and a host of innovative new amenities.
Initially given a placeholder name of "The Distillery," the new project name -- Pixon -- comes from a street in Tavistock, England, that caught the eye of company executives, spokeswoman Jessi Blakley said Thursday. It will be Lake Nona's fourth multifamily building.
Construction is set to begin in September by Balfour Beatty Construction, which was named general contractor of the project in early May, pending building permit approvals by the city of Orlando.
The urban-inspired Pixon building will have 201 modern apartment flats, six of which will be the Orlando market's first "micro units" averaging 360 square feet, which Tavistock is "excited and curious to see how the market responds" with demand, vice president of development operations Ralph Ireland told GrowthSpotter in January.
The remaining 195 units will break down as 42 studios (avg. 560 SF), 52 one-bedrooms (730 SF), 101 two-bedrooms (1,051 SF), and a 1,730-square-foot penthouse. Each apartment will have 10-foot, floor-to-ceiling windows.
Demand from college students seeking rental housing in Lake Nona has the potential to grow as new product hits the market. Campuses in the community based 4 miles or less from the new building site include UCF's College of Medicine, the UCF Burnett School of Biomedical Sciences, the University of Florida's Research and Academic Center, and Valencia College on Narcoossee Road.
Amenities will include bluetooth door entry, work stations with a 3D printer and private conference room, pet spa and grooming area, virtual gaming arcade, and concierge service for package deliveries and dry cleaning to be operated through an automated locker system with resident notifications.
But a hallmark amenity of the property will be a Tesla ride-share program with multiple on-site vehicles. Whether those are free for resident use or carry a rental fee hasn't been finalized yet, Blakley said.
A lounge atop the 11th floor will have a resident bar and private outdoor dining area, and a 24-hour gym on site will feature first-class equipment and on-demand fitness from Lake Nona Institute partner Technogym.
The 11-story main building will connect to a three-story parking garage via an enclosed second-story walkway. The ground floor will have 32,500 square feet of retail, which should include a retail pharmacy, café, co-working space and some type of bar/restaurant that may still include a distillery concept, Blakley said.
The property is projected to open in Winter 2018 with SPM Property Management on site, which also manages Tavistock's Ariel, LandonHouse and WaterMark apartment communities in Lake Nona. Pre-leasing should begin in Summer 2018.
The building's Winter 2018 delivery forecast should run concurrently or slightly ahead of the neighboring Town Center's Phase 2A that Tavistock said would include a brewery, bowling alley, medical fitness facility, hotel, retail and office.
The new mixed-use building's construction will involve standard post-tensioned cast-in-place concrete structure.
The use of pre-fabricated modular units by other micro-apartment developers across the country may be a step Tavistock takes in the future, Ireland said in January. The construction method, which can offer more than 50 percent savings on vertical costs for hotel and multifamily towers, is applicable when most or all of the units are similar size.