Unicorp Scores $73M Loan For New Multifamily Development In Winter Garden

Centennial Bank has closed a $73 million construction loan to finance the development of Elysian, a 323-unit luxury apartment community in Winter Garden, being developed by Unicorp National Developments, Inc.

Strategically located at the northeast corner of Avalon Road and Seidel Avenue in one of Orlando’s fastest-growing submarkets, Elysian is set to meet surging residential demand. With site clearing complete and pipe installation underway, groundbreaking is imminent, followed by an estimated 18-month construction timeline.

Unicorp, led by Chuck Whittall, brings a proven track record in luxury residential, retail, hospitality, and office projects. Elysian reflects the firm’s continued focus on delivering high-quality rental housing at a time when demand remains elevated. The project comes as Unicorp simultaneously prepares to break ground on several large-scale developments across the region.

The deal was led by Robby Barrows, Senior Vice President of Commercial Banking, in collaboration with David Druey, Florida Regional President at Centennial Bank. Both have worked closely with Unicorp over the past decade, contributing to a longstanding relationship that has resulted in more than $500 million in financing between the two firms.

Designed by Krieger Klatt Architects, Elysian blends high-tech design with a modern, resort-style living experience. Planned amenities will feature a wine bar, a state-of-the-art fitness center with yoga, Pilates, and cycling studios, a movie theater, a steam room and sauna, a resort-style pool with cabanas, and a clubhouse fireplace.

Winter Garden has seen its population grow by more than 40% since 2010 and continues to attract residents due to its strong employment base, quality of life, and improved connectivity through the 429 Expressway. Despite ongoing population growth, few developers are breaking ground on new rental product, positioning Elysian to meet pent-up demand once delivered.

“This is our first large project in three years, and we’re grateful to Centennial for continuing to stand by us,” said Whittall. “With construction pricing off its peak, we’re entering the right cycle. Elysian will be a flagship example of what’s possible when strategic timing meets trusted partnership.”

Elysian will serve Central Florida’s growing base of renters seeking upscale, lifestyle-driven living in a high-demand market, further cementing Unicorp’s role as a market leader across the region.