Beachwold Lands Record Construction Loan in Orlando
The project is taking shape at the site of a former 36-building community.
Beachwold Residential has obtained the largest private residential construction loan in the history of Orlando, Fla. Affinius Capital originated the $176.6 million note for the redevelopment of The Place at Alafaya, a two-phase, 1,395-bed student housing project project that will span 484 units. JLL Capital Markets arranged the financing agreement.
The Place at Alafaya will rise atop the site of a former 36-building that was originally built in the 1970s. Beachwold obtained redevelopment approval for the project in 2024. Notably, Orange County, Fla., greenlit the project for up to 2,400 beds back then.
The first phase will consist of two four-story buildings totaling 809 beds across 284 units, to be delivered before the 2028-2029 academic year. Stage two will follow up with a 200-unit, 586-bed property that’s set to be completed by the start of the 2029-2030 school year.
READ ALSO: National Student Housing Report – June 2026
Amenities are set to include swimming pools with cabanas, sport courts, as well as a three-story clubhouse with a coffee bar, social and study lounges, gaming and theater areas, in addition to a gym.
Located at 11600 MacKay Blvd., the 25-acre site is adjacent to the University of Central Florida’s southwest campus boundary along North Alafaya Trail.
JLL Senior Managing Directors Mona Carlton and Elliott Throne, in addition to Director Joshua Odessky, as well as Associates Michael Romero and JJ Hovenden and Analyst Luke Maganas, arranged the debt placement on behalf of Beachwold.
UCF was the second-largest university in the U.S. by enrollment, with north of 70,000 students during thr 2025-2026 academic year. The market was more than 90 percent preleased as of July 2026 for the next school year.
A redevelopment wave reshapes UCF’s student housing
More companies rose to meet growing demand, as Orange County advanced two other redevelopment projects concomitant with The Place at Alafaya’s approval in 2024. One student housing construction targeted the replacement of a former church with a 595-bed project, while another sought to redevelop a former FAIRWINDS Credit Union location into a 626-bed property.
Subtext and Nuveen Real Estate spearheaded the 626-bed project, located within walking distance of The Place at Alafaya. Dubbed VERVE Orlando, the property expects first move-ins next month, before the start of the 2026-2027 academic year.
