investor spends $65.8M on Lake Nona-area property, Lee Vista

A Lee Vista 3-year-old Class A apartment complex near Lake Nona is getting a facelift by its new owner.

The 330-unit Cortland Jubilee Park, formerly GrandeVille At Jubilee Park, is set to get about $2 million in renovations to its interiors in addition to its amenities, landscape, and branding, according to Kyle Bateh, an investment manager with Cortland Partners. The improvements come after Atlanta-based Cortland Partners subsidiary Merryvale FL Partners LLC bought the property 6850 Merryvale Lane in Orlando for $65.8 million, or $199,394 per unit, on July 19 from Altamonte Springs-based LeCesse Development Corp.’s related entities, according to Orange County records.

Patrick Dufour, Scott Ramey and Kevin Judd of Atlanta-based ARA, A Newmark Co., represented the seller in the deal.

The still-new property in Orlando’s Lee Vista neighborhood near Orlando International Airport was 95 percent occupied at the time of the sale. However, it required some upgrading, according to the new owner.

“We believe in the asset’s potential to demand higher rents as a result of the renovation,” Bateh said in an emailed response to Orlando Journal. “Despite being only 3 years old, the interiors are not on par with brand new deals in the broader market. Jubilee has the largest floor plans, is the newest asset in Lee Vista area and zoned for schools. So that’s what we are aspiring to compete with — newer Lake Nona assets that have higher-end finishes.”

Tavistock snags nearly 200 vacant acres near Lake Nona

 

 

 

An affiliate of Lake Nona’s developer spent cash to buy nearly 200 acres of cow pastures on the border of Orange and Osceola counties.

Springhead North LLC, an entity related to  Development Co. LLC, on Jan. 31 spent $15 million — or nearly $77,000 per acre — to buy three parcels of land from Carter-Lake Away North Land Trust, Orange County records showed.

The land isn’t contiguous to Lake Nona, but rather is on the east side of Narcoossee Road along Clapp Simms Duda Road in Orange County and along Cyrils Drive in St. Cloud, southeast of . Two parcels are in Osceola and the third is in Orange, property records showed.

It’s unknown what’s planned for the property and representatives from Tavistock were immediately unavailable for comment.

Daryl Carter of Maury L. Carter & Associates Inc. declined to discuss details of the sale, saying only that his family has been representing that land through trusts for about 40 years.

However, Carter did say proximity to Tavistock’s 17-square-mile booming community of is what made that land valuable.

“If you get in a helicopter only about 100 feet above ground, you can see Lake Nona and what Tavistock has done there with Medical City and everything else,” Carter told Orlando Journal. “It’s all very innovative, transformative, generational, impactful things. And this land is in that core of influence.”

Lake Nona is one of Central Florida’s hottest communities. It notched the No. 15 spot among the nation’s top-selling master-planned communities with 523 home sales in 2017, John Burns Real Estate Consulting reported.

Additionally, the community already boasts more than 11,000 residents, 5,000 employees in its 650-acre Medical City life sciences hub, plenty of new activity in the 300-acre Sports & Performance District, and more than 11,000 students at its schools.

New York Real Estate

Tavistock preps plans for 2 new Lake Nona apartment projects

Tavistock Development Co. LLC has plans in the works to bring two new multifamily projects — including one it’s calling “micro apartments” — to southeast ’s booming Lake Nona community.

Early planning is underway for a second multifamily development in the Lake Nona Town Center, temporarily being called The Distillery, which would be 11 stories high and include a mix of uses within it, according to documents.

The most unique part about the project is the residential units themselves, which is something Tavistock plans to experiment with by making them about 10-15 percent smaller than what’s now available in Orlando, Vice President of Development Operations Ralph Ireland told Orlando Business Journal.

The plan is to test out six “truly micro” units, at about 375 square feet each, Ireland said. If that’s successful, Tavistock may try to do some in its next apartment project.

“Because we’re always trying to innovate, we want to do things in Lake Nona that haven’t been done elsewhere in Central Florida,” Ireland told OBJ. “Of course, we can’t just roll out 150 micro units because we don’t know how it’s going to work. But we’re trying to get something more efficient. And they will be well amenitized within the units and in the common areas.”

Tavistock already has secured a foundation permit for this project, and is seeking city staff approval on a final plat. is expected to start in May or June next year.

Kimley-Horn & Associates Inc. in Orlando is the civil engineer, the project architects are Silver Springs, Md.-based Torti Gallas & Partners Inc. and Columbus, Ohio-based M+A Architects, and the landscape architect is Dix.Hite + Partners LLC.

Construction to start on Lake Nona’s first age-restricted community

Lake Nona’s owner has a project in the works that will bring a new residential option to the growing southeast Orlando community.

Development Co. LLC is planning a new 216-unit active adult community called The Gatherings at Lake Nona. The community would be built on 9.7 acres about one mile east of the VA Medical Center in Lake Nona off Laureate Boulevard.

The community also will include a pool, a 4,400-square-foot clubhouse, shuffleboard, standalone garages and a 218-space surface parking lot. Tavistock Development filed for an environmental resource permit on Aug. 1, and has submitted specific parcel master plan documents to the city of Orlando.

Beazer USA appears to be the builder of the project, according to documents. Donald W. McIntosh Associates Inc. is the project engineer/surveyor; Aecom Inc. is handling ecological sciences work; Broad and Cassel is the legal counsel; and GAI Consultants is handling landscape, irrigation and hardscape.

This project is poised to create new construction and vendor opportunities for local firms, and will bring a new residential market to Lake Nona that already boasts more than 11,000 residents in its single-family homes and multifamily complexes.

VILLAGEWALK AT LAKE NONA

VillageWalk is a gated, tranquil and pristine community in the sought-after Lake Nona area in Central Florida.   Offering resort style, worry-free living, it is a One-of-a-kind Master development with an intricate system of canals and walkways.  There are single-family , attached villas, and town homes, with a total of approximately 1200 homes within the neighborhood.

Keller Willlams Lake Nona Florida

Homes

 

VillageWalk is a vibrant community, with a mix of young families, professionals, as well as retirees.

VillageWalk at Lake Nona is conveniently located on the southeast side of Orlando, and is within the city limits.  The short commute to the attractions such as Disney World, Universal, and Sea World, as well as its proximity to the Orlando International Airport, Kennedy Space Center and the Atlantic Ocean, make it a desirable location for home-buyers seeking an active lifestyle.

Being only a few minutes away from the Medical city, which is home to some of the leading hospitals, research companies, and health & life science companies, VillageWalk is the neighborhood of choice.  The US Tennis Association and Soccer Association are also scheduled for inauguration within the next few months.

There are many opportunities to participate in volunteer projects and entertainment.  Activities such as free tennis instruction, water Aerobics, Walking Groups, Yoga, Poker and Zumba are offered, to name a few.  Each month there are many fun and educational programs planned for adults and children by the extremely competent Life Style staff.lake nona real estate

Walking along the shady winding walkways, is a peaceful, rejuvenating experience. Even after sunset, a stroll with one’s dog or even alone, for exercise, is very safe. Sunrise and sunsets are spectacular, with the light reflecting over the canals. Seasonal waterfowl are fun to watch.

The place is well maintained and clean. The Town Center offers excellent amenities like a well-equipped gymnasium, a lap and family pool, a deli, a gas station, a hair salon, a dry-cleaners and spa.

With property prices on the rise and the life-style Village Walk offers, it is definitely the place to be! 

 

offices, homes, more in the pipeline

Looks like more development is on its way to to further grow a neighborhood and new sports district.

The city of Orlando on July 11 approved development plans in the southeast Orlando community for new , offices, showrooms, private athletic fields, mixed-use buildings, fitness centers and more. Lake Nona’s developer, Development Co. LLC, now can move forward with its plans that’ll create new construction opportunities, further develop a high-end neighborhood and develop land near the future U.S. Tennis Association’s 63-acre, $100 million campus that’s opening by year-end.

Here’s what’s coming:

  • Phase 7: Tavistock plans to expand its Laureate Park neighborhood by 54.8 acres that are between Tavistock Lakes Boulevard and Nemours Parkway. The property has 207 lots and will be used for more single-family homes and townhomes.
  • Laureate Park Neighborhood Center Phase 1: Tavistock will develop a 6,300-square-foot, mixed-use building; a 2,300-square-foot, multi-purpose building; a 3,000-square-foot fitness center; two swimming pools and neighborhood green space on 10.77 acres north of Tavistock Lakes Boulevard and east of Sachs Avenue. Later phases of the Laureate Park Neighborhood Center call for 141 housing units, including townhomes, condos, single-family waterfront homes and boutique apartments.
  • Sports Village at Lake Nona: Tavistock will develop 31.1 acres west of Performance Drive and south of the USTA facility where it plans to build up its 300-acre Sports & Performance District. An 18,877-square-foot office building, two 50,000-square-foot buildings with office and showroom space, six athletic fields with a 23,750-square-foot building for ancillary uses, and 700 parking spaces are plannorlando cityed for the property.

Tavistock announced last April it planned to develop a 50,000-square-foot office building in its sports hub. also announced earlier this year it’s opening a new 23-acre training facility next to the USTA campus in 2017. It appears the new development plans line up with these prior announcements, but it is not confirmed if they are related.

Meanwhile, Tavistock also recently filed plans in preparation for a new hotel or resort in Lake Nona. Tavistock seeks to combine three parcels between Lake Nona Boulevard and the Lake Nona waterway into a single designation to streamline development plans for a future hotel or resort, sources previously told Orlando Business Journal. It’s not clear if these plans are related to the sports district, but Tavistock leaders previously said a resort and spa is needed near the sports district to accommodate traveling athletes and their families.

Lake Nona-Orlando Homes

Lake Nona in Orlando Florida is one of Florida’s fastest growing areas. Home to over 20 unique neighborhoods and vibrant communities, the area offers lush landscapes against a modern style homes.   From affordable to million dollar homes, from townhomes and condos to new construction multi family homes, frompool homes to waterfront homes, Lake Nona has a home to fit your lifestyle.

lake nona floridaLake Nona is located in the Southeast corner of Orlando.  The Lake Nona area is intersected by the 417 Greenway and the 528 Beachline forms its northern border.  Narcoossee Road is its main North-South artery.  There are numerousrestaurant and shopping options and more opening each month.  State of the art education facilitiesfrom pre-school to college are located right in the Lake Nona area.

Lake Nona Area Neighborhoods:

24 neighborhoods currently make up the greater Lake Nona area.  These neighborhoods and communites range from rustic lakeside cabins to townhomes to grand estate homes.

lake nona neighborhood area

These neighborhoods include the official Lake Nona neighborhoods of: Lake Nona Country Club, Laureate Park, Northlake Park, Summerset Park, Village Walk &Water’s Edge  Official Lake Nona neighborhoods are any neighborhood developed by the Tavistock Corporation on their property which is mostly anything West of Narcoossee Road.  Tavistock is also the developer for massive Medical City Area. Tavistock owns the name “Lake Nona” so only properties in their developmental area can use the term Lake Nona in their name. Properties on the East side of Narcoossee Road are considered part of Lake Nona Area by their general location and sharing of businesses on either side of the road.  Homes in the Lake Nona area were or are being built by various developers. All of the homes in the greater Lake Nona area are in Orange County and all with the exception of Summerset Park are in the Lake Nona school district area but only official Lake Nona properties are in the City of Orlando at this time. Lake Nona area neighborhoods include: Bellanona Grande Estates, Eagle Creek, East Park, Fell’s Landing, Isle of Pines, Lake Whippoorwill-Hart, La Vina, Live Oak Estates, Moss Park, Nona Crest, Nona Preserve, Nona Terrace,  North Shore Club, Randal Park, Savannah Pines, Stratford Pointe & Storey Park

Entertainment options abound in Lake Nona.  Well known for the Lake Nona Golf & Country Club, the Lake Nona area lake nona entertainment and activitiesactually offers two more golf courses in the Eagle Creek Golf Community and in North Shore at Lake Hart. Moss Park, Orange County’s largest park offering boating, hiking and swimming is a great place to relax and enjoy the Florida Nature.  For jetsetters, Orlando International Airport is adjacent to the Lake Nona area.  And Lake Nona’s central location means that Orlando’s world famous theme park attractions and its East Coast beaches are a short drive away.

Lake Nona is home of the 700-acre biomedical project known as Medical City
.  The continued growth of the Medical City will employ thousands of doctors, scientists, researchers, and other support staff making Lake Nona’s proximity to Medical City the perfect location.  With an estimated $2 billion in construction work that encompasses the UCF Medical School, Burnham Institute for Medical Research, Nemours Children’s Hospital, a VA Hospital, and the Medical Research Park, the future of this community makes it the premiere spot for medical professionals creating upwards of 30,000 new jobs in the area and adding billions to the Florida economy.

Eagle Creek Golf Community

Eagle Creek features distinctive homes in a traditional European village setting. A place where nature and neighborhoods co-exist peacefully and families enjoy the good life. There are neighborhoods of single-family homes, townhomes, golf villas, apartments and condominiums that grace the lakes and fairways of Eagle Creek. From the stone bridge at its entrance to the championship golf course and New England Manor style clubhouse at its center, Eagle Creek is a community built for the family.

Eagle Creek Golf course was designed by world renowned golf course architects Ron Garl and Howard Swan. It is an extraordinary 18-hole, 7217-yard, Par 73 championship course with five sets of tees for golfers of all skill levels.

You can learn more about Eagle Creek Golf Course & Community at www.eaglecreekorlando.com.

Here is a home sold by the Maycumber Team in Eagle Creek: 

9942 Hatton Circle

 

East Park

 

East Park

The East Park Neighborhood has over 1000 residents and features contemporary single-family homes and townhomes around beautiful East Park. This neighborhood is complete with playgrounds, walking trails, bike path, tot lots, tennis court, sand volleyball, basketball courts, picnic/BBQ/grilling areas, a boat launch, dog park, and pavilions.

East Park is located in the heart of Lake Nona with entrances off of Narcoossee Rd, Moss Park Rd, and Dowden Rd.

Here are some homes sold by the Maycumber Team in East Park: 

9964 Caroline Park Dr.

10019 Silver Laurel Way 

9830 Caroline Park Dr.

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Waters Edge

Nestled inside NorthLake Park, Waters Edge is a gated community with resort style amenities. Residents of Water’s Edge get all the benefits of living in Northlake Park in Lake Nona such as nature trails, tennis and basketball courts, the dog park and Lakeside park with the YMCA and sport fields.  But they also get the added benefit of living in a private gated community within Northlake park.  If that isn’t enough, residents will experience waterfront living on pristine Lake Nona with a lakefront park, boat dock and boat storage area.

Here are some of the homes sold by the Maycumber Team in Waters Edge:

8047 Northlake Pkwy

8280 Northlake Pkwy

For more information on Waters Edge, visit the Northlake Park HOA website.