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Pair of apartment projects in the works near Disney

by SCAdmin | Uncategorized

Via Orlando Business Journal

By   –  Staff Writer, Orlando Business Journal

Two multifamily developments may rise near Walt Disney World, adding more than 1,200 apartments to an area that’s bouncing back from the pandemic.

Combined, the projects may cost in excess of $240 million to build, based on industry standards, and will create jobs as well as opportunities for subcontractors and vendors. Orlando’s fast-growing population and its low apartment complex vacancy rates continue to drive demand to build new residential space.

 308 apartments are in the works on 12.4 acres near State Road 417 and State Road 535, Orange County records show. Raleigh, North Carolina-based Kimley-Horn & Associates is the project applicant, and Poinciana FW LLC — an entity related to Orlando-based Intram Investments Inc. — is the property owner.

Orlando-based Scott + Cormia is the project architect, and Innovations Design Group is the project’s landscape architect.

Project representatives weren’t available for comment. Poinciana FW LLC bought the property in March 2018 for $2.5 million or roughly $201,612 an acre, Orange County records show.

The project, called Poinciana Phase II (Alaira II), would rise next to Aventon Alaira at 8072 Poinciana Blvd. The new project will feature a dog area, bike parking, pool, clubhouse and more.

Read the full article HERE.

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