Kimaya Opens Orlando-Area Luxury Community
Ameris Bank originated $51.5 million in construction financing.
Kimaya Real Estate opens today Aston Square Apartments, a 287-unit luxury community in Kissimmee, Fla., near Orlando. Ameris Bank originated a $51.5 million construction loan, according to Yardi Matrix data.
The community encompasses four buildings which comprise one- to three-bedroom floorplans ranging between 744 and 1,854 square feet. Winter Park Construction was the general contractor, while ACI Architects provided designs.
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Apartments feature walk-in closets, keyless entry units and screened-in patios. Amenities include a swimming pool, as well as a 11,000-square-foot center with a gym, media lounge and lounge with private work pads and a conference room.
Located at 1500 Neo Landings Loop, the nearly 13-acre Aston Square is less than 1 mile from U.S. Route 441 and roughly 20 miles south of downtown Orlando. It is also less than 2 miles from the Kissimmee Lakefront Park and within walking distance from the Kissimmee Square shopping center.
Orlando’s robust multifamily pipeline
A recent Yardi Matrix report shows developers delivered 11,960 units in Orlando throughout 2023, representing the second-best year for completions in the past decade. Additionally, in January 2024 two communities totaling 654 units were delivered in the metro.
Orlando’s pipeline totaled 28,864 units under construction as of January, with West Kissimmee being the only submarket with more than 3,000 units underway. Yardi Matrix expects a record 16,323 units to come online this year—accounting for 6.2 percent of stock.
