Wood Partners Begins Construction on 200-Unit Orlando Community
- Feb 04, 2013
Orlando, Fla.—Wood Partners announced is has begun construction on a 200-unit community on Spring Lake at the entrance of Doctor Phillips, a residential district in Orlando, Fla. Leasing is expected to begin in February 2014, and construction is expected to be completed in July of that year.
The community, called The Rialto, will be a five-story community with 17,000 square feet of retail space, which will be owned by The Wilder Companies. The apartments will feature one-, two- and three-bedroom floor plans, and will average 1,056 square feet. Apartment interiors will include ceramic flooring in kitchens, entries and baths; 9-foot ceilings; stainless steel appliances; granite countertops; and modern lighting.
Amenities will include a clubhouse with a pool, mail kiosk and fitness center.
The main draw, however, is The Rialto’s location. The community is 10 minutes from Walt Disney World, Sea World, Universal Studios and the Orange County Convention Center, all of which are major employment hubs in Orlando.
“The site is well served by major transportation routes, major employers, area schools, retail stores and other support services,” David Thompson, director for Wood Partners in Florida, says. “The proximity to excellent retail, prestigious Doctor Phillips address, outstanding lake views and superior school district distinguish the project from competitive offerings.”
The construction process is expected to generate more than $20 million in local income, $1.9 million in local taxes and government revenue and more than 244 jobs.