ORLANDO—Wood Partners still sees opportunity in Orlando multifamily. Wood just opened the doors to its newest multifamily community there and is in the midst of building another one.
Dubbed Alta at Lake Eve, the Orlando multifamily community offers resort-style amenities, from a private movie theater, and state-of-the-art fitness center to high-efficiency washer-dryer units in every unit.
“Location is a major selling point, but this development is unique …,” says Joe Garibay, Southeast regional property manager for Wood Residential Services. The controlled-access apartment community is just two miles from Walt Disney World and about five miles from Universal Studio, Sea World, and the Orange County Convention Center.
The 264-unit luxury multifamily community includes four-story midrise buildings and two two-story carriage home buildings. Sixty multifamily units are ready for move-in. The remaining units are available for pre-lease. Wood is offering a free month's rent as a concession.
With this project, Orlando also went green. All appliances are ENERGY STAR, and lighting is low-energy fluorescent. The leasing office is paperless, and the builder made extensive use of recycled materials. Wood Partners is also working with the Florida Department of Conservation to help clean and monitor the water in nearby Lake Eve.
The 9.69-acre multifamily community is Wood Partners' 11th project in Orlando. Since 1998, the company has developed 27 projects with a total valuation of $1.1 billion in Florida. The Alta at Lake Eve multifamily project is worth $32.7 million. HSBC Bank USA, N.A. provided construction financing.
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