Developer To Build $40 Million Multifamily Project Near SeaWorld
<![CDATA[Integra Land Co. plans to break ground in December on a new 388-unit apartment complex near SeaWorld Orlando. The Lake Mary-based apartment developer plans to finalize a general contractor by mid-November for Integra Cove, a $40 million project at the southwest corner of Central Florida Parkway and Westwood Boulevard in southwest Orlando. The project would bring an estimated 300 temporary construction jobs to the region, as well as an unknown number of permanent jobs. It also allows Integra to get back into the hot apartment development market — where demand continues to outpace supply. “We did four properties in 2008-2009, and that’s when the real estate market went south,” Integra President David McDaniel told Orlando Business Journal. “Now is an excellent time to get back in, especially with all the employment coming into the area at hotels, Universal Orlando Resort, SeaWorld and even Disney, which isn’t too far away.” Construction is slated to be completed in mid-2015. This is just one of several projects Integra has in the works. The firm also is building a 278-unit apartment complex in Chattanooga, Tenn., next to another 220-unit project it just completed. It also has other projects in Central Florida that McDaniel declined to discuss. At least one of those could be the planned Casselberry Town Center. Earlier this year, Integra and Columbus, Ohio-based developer Casto, which operates as Casto Lifestyle Properties LP in Florida, signed an agreement with the city of Casselberry to develop 200 apartment units and five retail pads, which would be designed by Aci Inc. of Winter Park. Source: OBJ]]>
Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.
Leave a ReplyWant to join the discussion?
Feel free to contribute!