Wood Partners Starts Construction on Orlando Community
The development will be the company's sixth Alta-branded property in the popular entertainment destination.
Wood Partners has commenced vertical construction on Alta Headwaters, a 328-unit luxury community in Orlando, Fla. The multifamily property, developed along the Tourism Corridor, is scheduled to open in the second quarter of 2020.
Located at 10501 S. John Young Parkway, the site occupies 15.3 acres at the intersection of John Young and Central Florida parkways. The property is 10.6 miles south of downtown Orlando and half a mile east of Shingle Creek, considered the northernmost headwaters of the Florida Everglades. Nearby employers include Darden Restaurants, Lockheed Martin, SeaWorld, Tupperware Brands Corp. and Whirlpool Corp.
Alta Headwaters will consist of seven four-story buildings. The unit mix will feature studio, one- to three-bedroom floorplans averaging 960 square feet. Community amenities will include a resort-style, zero-entry saltwater pool, cabanas, lounge seating and outdoor grilling areas, as well as a fitness center, game lounge, cyber lounge and fenced dog park.
Wood Partners has developed six Alta-branded properties in Orlando so far, and two are under construction. The company opened Alta Grande in 2017 and sold the property in June for almost $75 million. The 314-unit luxury asset is located less than 1 mile east of Alta Headwaters.
The company also acquired a 7.9-acre site at the intersection of S. John Young Parkway and Taft Vineland Road, which represents a future second phase of the Alta Headwaters development.