Royal Palm JV Breaks Ground on Landmark Project Near Orlando
Last month, the developers obtained an $86 million construction financing package.

A joint venture between Royal Palm Cos. and Mattoni Group has started construction on Tuscany Village, a 420-unit project in Sanford, Fla., the largest multifamily development in the city to date. Completion is expected in the second quarter of 2026.
The duo acquired the site last June for $12.7 million, according to Yardi Matrix information. Partners on the 21-acre project include general contractor LandSouth Construction and architecture firm Forum Architecture & Interior Design.
Last month, the developers took out a $68 million construction loan from City National Bank of Florida, the same source shows. Additionally, Origin Investments contributed $18 million in preferred equity, Florida YIMBY reported.
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Designed to receive green certification from NGBS, the community will comprise seven identical four-story buildings with one-, two- and three-bedroom units ranging between 782 to 1,398 square feet. Each apartment is expected to have a private balcony, walk-in closet, washer and dryer.
Common-area amenities are set to include EV charging stations, a 9,000-square-foot clubhouse with coworking business center, communal workstations, a demonstration kitchen and a pet grooming area. Plans also call for a fitness center and a swimming pool with jacuzzi and cabanas.
Tuscany Village is rising at 4201 W. First St., close to a host of dining and retail options including the Towne Center Plaza and the Gateway Plaza shopping malls. Orlando Sanford International Airport is 10 miles from the site, while downtown Orlando is some 20 miles southwest.
Orlando’s growing multifamily inventory
Orlando had 119 multifamily developments under construction as of May, totaling around 30,300 units, Yardi Matrix data shows. In addition, the market had 451 prospective projects and 79 in different planning stages.
Earlier this month, Kimaya Real Estate opened Aston Square Apartments, a 287-unit luxury community in Kissimmee, Fla. The four-building property was designed by ACI Architects.
At the end of last year, Thompson Thrift broke ground on The Junction at Rockledge, a 380-unit project in Rockledge, Fla. First move-ins at the luxury community are slated for early next year.