The Altman Companies has closed on a $41,217,000 construction loan with Comerica Bank on Altís Grand Lake Willis Phase II in Orlando.
Altís Grand Lake Willis Phase II is a 230-unit, multifamily rental community located in the heart of South Orlando, which will include 6 residential buildings with a stand-alone clubhouse. The development is planned connectively to the surrounding Class A+ retail, driving demand. The community will include 420 parking spaces and 30 detached garage spaces. Altís Grand Lake Willis Phase II will provide residents with six unique floor plans across six buildings on just over 9 acres. Exceptionally appointed, one-, two-, and three-bedroom apartment homes will be offered.The spacious floorplans come with 42” inch cabinets, state-of-the-art finishes, and stainless steel, energy-efficient appliances. Wood vinyl flooring is standard throughout the community.
Altís Grand Lake Willis Phase II is a pet-friendly community, offering a pet park with a gated, off-leash area for residents to bond and play with their pets. The community will also be equipped with 24/7 package delivery through Fetch and dry-cleaning pickup station for residents’ convenience.
Altís Grand Lake Willis Phase II is National Green Building Standard (NGBS) certified. Its sustainable initiatives will include 100% energy-efficient designer lighting, ENERGY STAR® refrigerators and dishwashers, high-efficiency water heaters and sub-metered water, and car charging stations.
The development, in partnership with institutional investors advised by J.P. Morgan Global Alternatives, is in the heart of South Orlando’s employment corridor with proximity to I-4 and theme parks.
“We are excited to be able to move forward on this exceptional community,” said Seth Wise, CEO of The Altman Companies. “For over 54 years, The Altman Companies has developed rental communities that have redefined the Exceptional Living Experience in Florida and across the country. We are very proud to be able to build this refined, amenity-rich community.”
Altís Grand Lake Willis Phase II is adjacent to another Altman Development, Altis Grand Lake Willis, which broke ground in the Fall of 2021.
Convenience and prime location are a high priority within the development plan, allowing easy access in all directions to major employment centers, downtown Orlando, theme parks, and the Orlando International Airport. Altís Grand Lake Willis Phase II is adjacent to Vineland Pointe, a brand new, three-phase 450,000 retail shopping and entertainment center. Furthermore, the site is a five-minute walk from the Orlando Vineland Premium Outlets, which encompasses 657,000-square feet of retail space and 160 stores with over 13 million annual visitors.
“This transaction and the construction of this community mark yet another significant development for The Altman Companies as we develop this exceptional Class A community in Orlando,” added Wise. “We are delighted to be working with Comerica Bank and J.P. Morgan Global Alternatives as our partners in this community and to continue to deliver a new standard of luxury, exceptional services, and exclusive amenities to the Orlando area.”
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