RISE: A Real Estate Co. has started construction on West Vue, a 442-unit luxury apartment project in MetroWest, Orlando’s 1,805-acre master-planned community. West Vue will be the area’s first multifamily development in more than a decade.
According to Orange County records, the developer obtained a $46.5 million construction loan from PNC Bank in July. The financing comes a few months after the company received a $47 million loan for a student housing asset in Daytona Beach, Fla.
FaverGray is the general contractor, while Humphreys & Partners Architects will provide the project’s e-Urban design. The development is slated for completion in the summer of 2021, with the delivery of the first phase expected in the fall of 2020.
Located at 6003 Raleigh St., adjacent to State Road 435, the 12.8-acre development site is 6.7 miles west of downtown Orlando. The property is 1.5 miles northeast of the MetroWest Golf Club and there are also three shopping malls within a 3-mile radius.
Upon completion, West Vue will consist of five four-story buildings featuring one- to three-bedroom floorplans. Community amenities will include a 11,274-square-foot clubhouse with a cyber lounge, two resort-style swimming pools with cabanas, a fitness center, a playground and 300 covered parking spaces. Additionally, the buildings will have air-conditioned corridors and feature climate-controlled storage facilities. RISE Residential will manage the property after its completion.