Developers Kick-Start $38M Transit-Oriented Apartment Community in Orlando
A new community is set to rise in downtown Orlando, as developers Wood Partners and The Ustler Group have joined forces and started working together on a 248-unit urban apartment community called The Ivy – Residences at Health Village.
Set on 3.4 acres acquired by the developers in Florida Hospital’s Health Village in November 2012, the $38 million apartment community will stand amid the hospital’s 172-acre Health Village—a mixed-use, transit-oriented, master planned urban development. Centered around health and wellness, Health Village features a variety of uses including medical, research, medical office, commercial, hotel and multifamily.
The Ivy—Residences at Health Village will consist of two mid-rise buildings and an integrated parking garage, and it will offer 248 one-, two- and three-bedroom units averaging 941 square feet, with a total living area of 233,368 square feet. The first units at The Ivy are scheduled for completion in late 2013 or early 2014 with full project completion and availability of all units set for mid-2014.
Baker Barrios serves as design architect, with Charlan Brock & Associates as the architect-of-record and Wood Florida Builders as the general contractor. GAI Consultants has been chosen as the civil engineer for the project, while Libra Design Group will be the landscape architect. Wood Partners and Ustler have a marketing relationship with Florida Hospital to provide their employees with the first opportunity to lease apartments at The Ivy.
The Ivy could be the first true transit-oriented development project to start vertical construction in Orlando since the formal announcement of SunRail. A SunRail station is part of Health Village and will be operational as of 2014. The Ivy will be just one SunRail stop away from the premier dining and shopping offerings of Winter Park’s Park Avenue, and two stops from the main downtown Orlando stop at Church Street Station in the Central Business District, which is in proximity to the newly completed Amway Center and the under-construction Dr. Phillips Center for the Performing Arts.
Image courtesy of Wood Partners