Wood Partners to Add Luxury Apartments Near Disney World

By Georgiana Mihaila, Associate Editor Multifamily developer Wood Partners LLC recently purchased 9.69 acres of undeveloped land near the Walt Disney World that will soon house a 264-unit luxury apartment community. Dubbed Alta at Lake Eve, the project will represent the [...]

Multifamily developer Wood Partners LLC recently purchased 9.69 acres of undeveloped land near the Walt Disney World that will soon house a 264-unit luxury apartment community. Dubbed Alta at Lake Eve, the project will represent the company’s 27th multifamily development in Florida; the valuation of its current Florida developments totals $1.1 billion.

Alta at Lake Eve is Wood Partners’ 10th project in Orlando, located within close proximity to two of the company’s highly successful local developments: Alta at Little Lake Bryan and Patterson Court. Location is an important factor—this project boasts a prime location on International Drive—but the company is also relying on the increasing interest in new apartment developments in cities throughout the Southeast. The cost of the project is estimated at $32.7 million.

The four-story community will offer apartments ranging from one bedroom with one bath to three bedrooms with two baths, from 663- to 1,370-square-feet; the units will be designed with walk-in closets and balconies, ENERGY STAR® appliances, washers & dryers in each unit, and simulated-wood laminate flooring. The community will include elevators, surface parking, a swimming pool, courtyard, and clubhouse. An on-site fitness center with top-of-the-line cardio equipment will also be accommodated, alongside a state-of-the-art clubroom with Wi-Fi access, televisions and an entertaining area. Lease prices are projected to range from $900 to $1,500.

Construction start is scheduled for December in order to welcome its first residents by September 2012; the overall project is set for completion by March 2013, according to an official press release. Wood Florida Builders, LLC—Wood Partners’ Florida construction group—will be in charge of construction. Charlan Brock & Associates has been chosen as architect and HSBC Bank USA, N.A. provided financing for the project.