New Multifamily Development Breaks Ground in Orlando

News Summary

Orlando welcomes the groundbreaking of Ellison Nona, a new multifamily development featuring 377 residential units. This project aims to enhance community living with modern apartments and a plethora of amenities. Set to open in 2027, it will be located near Lake Nona, catering to the growing demand for multifamily housing as more people flock to the area. With nearly 26,700 units currently under construction in Greater Orlando, the future of housing in this vibrant city looks promising.

Exciting Times Ahead for Orlando with New Multifamily Development!

Orlando is buzzing with excitement as a brand new multifamily development officially breaks ground! The project, known as Ellison Nona, is a collaborative effort between the Flournoy Development Group, a proud member of the Japan-based Kajima Corp., and JR West. This fantastic new addition to the community will feature a whopping 377 residential units and is set to open its doors in 2027.

What’s in Store at Ellison Nona?

Located at 11763 Narcoossee Road, the Ellison Nona development will certainly bring a modern edge to residential living. Boasting a total of 618,552 square feet, the community will offer a variety of one- to three-bedroom apartments, making it ideal for individuals, couples, and families alike. The folks at Forum Architecture & Interior Design are in charge of planning the project, while Kimley-Horn will handle civil engineering. The construction will be led by FaverGray, making sure everything runs smoothly and efficiently.

A Community with All the Bells and Whistles

But wait, it gets even better! This isn’t just a set of apartments; Ellison Nona is gearing up to be a thriving community hub. Residents will be able to enjoy top-notch amenities, including coworking spaces, cozy conference rooms, and a fabulous clubhouse that features a gym, yoga studio, golf simulator, and a swimming pool! Whether you’re looking to stay fit, socialize, or simply unwind after a long day, this place seems to have it all.

Location, Location, Location!

Ellison Nona couldn’t ask for a better location. It’s nestled right next to the sprawling Lake Nona master-planned community, which boasts over 11,000 acres of beautifully designed spaces. Plus, it’s conveniently located about 20 miles from downtown Orlando and just a stone’s throw from the Orlando International Airport. Lovers of nature will also appreciate being within walking distance to Lake Whippoorwill, making it perfect for those who enjoy leisurely strolls and outdoor activities.

A Multifamily Boom in the Neighborhood

There’s a significant amount of interest in multifamily construction in the Lake Nona submarket. Another exciting project on the horizon is called Royal Palm at Nona, featuring 320 units and being developed by Royal Palm Cos. and Mattoni Group, only about 7 miles from Ellison Nona. This project will consist of four four-story buildings along with eight charming carriage house structures. It will also offer a range of one- to three-bedroom units, appealing to a diverse group of potential residents.

Growth on the Horizon

The signal for this booming area is clear! Last year alone, approximately 17,700 multifamily units were completed across metro Orlando, and an estimated 14,000 more units are expected to be added by 2025. That means 5.0% of the total stock will come from new developments, with nearly 26,700 units currently under construction in Greater Orlando. It’s worth noting that more than 11,500 units were kicked off in 2024, reflecting an upward trend of 5.0% compared to 2023.

What’s Driving This Demand?

So, what’s fueling this demand for new housing? Florida is attracting a large wave of new residents, especially families and professionals drawn in by the warm weather, new job opportunities, and the allure of master-planned communities. Local governments are even stepping in, offering developers enticing incentives such as tax breaks and quicker permit processing to help fuel this growth.

Master-Planned Communities: The Future of Living

Take a place like Lakewood Ranch, which is currently the highest-volume all-ages master-planned community in the United States. With so much variety in housing options and amenities, it’s clear why buyers are flocking there. Home prices in these communities typically command a premium, all thanks to the enhanced lifestyle they provide. For builders, it’s all about the high demand, and on average, they are seeing 32 sales per month!

For those seeking a quality lifestyle and investment security, especially during changing economic times, the multifamily developments in Orlando are definitely a promising avenue. With projects like Ellison Nona on the way, the future of living in this vibrant city looks both bright and exciting!

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Additional Resources

• Multi-Family Biz – FCP Closes $167 Million Preferred Equity Investment
• What Now Orlando – Blaze Pizza Coming to New Lake Nona Development
• Forbes – Master-Planned Communities are Thriving and Growing in Florida
• GrowthSpotter – Developers Score $94.2M in Financing for Lake Nona Area Apartments
• WFTV – Tavistock Development Sells 14 Acres in Lake Nona, Orlando