ORLANDO-Urbana Condominiums, a planned 236-unit development that won't break ground until March, has booked an average $275,000 per unit on 40 pre-construction sales at its Hunter's Creek south Orlando development site, the company reports. The sales total for the estimated $24-million community is $11 million. The project's anticipated completion date is summer 2007.
Regal Park Homes Inc., a private locally based ownership group that is developing Urbana, has retained the condominium sales division of Signature GMAC Real Estate in Orlando to handle the project's sales and marketing. The condos will be built off John Young Parkway at 13501 Town Loop Blvd. and will be priced from $245,000 to about $418,000, says Jenny Goodman, Signature GMAC's director of project development. The homes will average 821 sf to 1,628 sf of living area.
This newest project increases the total new condo units built, planned or under construction in metro Orlando over the past five years to 9,500 with an estimated development cost of $2 billion, according to GlobeSt.com research. Since 2002, a total 18,183 apartments have been converted to condominium homes.
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