Madison Capital Advises On $85M Altamonte Springs Multifamily Development

Madison Capital Group, a Miami-based commercial real estate advisory and investment firm, acted as exclusive advisor representing Muirfield Development in arranging a co-development venture to build an $85 million, 332-unit multifamily project in Altamonte Springs.

The new multifamily community will be developed on a 12.7-acre infill parcel adjacent to Altamonte Springs City Hall and across from the SunRail commuter station. Plans call for four-story buildings with surface parking, delivering 332 thoughtfully designed apartment units. After two years of entitlement and design work, the site plan has full approvals and is scheduled to break ground this fall.

Altamonte Springs is part of the greater Orlando metro, one of the nation’s most dynamic markets. Orlando ranks #1 among MSAs in population growth from 2017–2026, and #1 in job growth over the same span, according to CoStar. The development site benefits from proximity to major retail corridors, employment centers, and direct rail connectivity to downtown Orlando.

“Muirfield is committed to delivering a positive impact to the communities where we build, and Madison’s team was instrumental in structuring a venture aligned with that vision,” said Steve Colamarino, Partner with Muirfield Development. “With the City’s enduring support, we’re excited to deliver a best-in-class community in Altamonte Springs that combines superior connectivity, strong market fundamentals, and a tremendous quality of life for its future residents.”

“We’re proud to have supported Muirfield with a financial and strategic solution that brings this project to life,” said Tim Martorella, Managing Partner at Madison Capital Group. “Altamonte Springs continues to benefit from durable demographic and employment drivers, and this project is positioned to meet sustained demand for high-quality rentals in the Orlando region.”