In late October 2022, a partnership between TriBridge Residential and International Capital successfully closed on the construction loan for a new Class A, 250-unit multifamily community in Davenport, FL, a suburb of Orlando, FL.
Located just southwest of Orlando, the Davenport submarket has seen a surge of growth by offering an attainable suburban lifestyle for renters, with convenient access to major employers throughout the Metro. Logistics, healthcare, and tourism employers serve as the area’s main economic attractions, with the 12.6-acre site’s location along US Highway 27 also benefitting from the 57,000 vehicles that pass daily.
The project will be a three-story garden style development with amenities that will include a resort-style pool & outdoor grilling stations, fire pits, 24-hour fitness center with Echelon bikes, clubhouse, dog park, parcel room, and playground.
Construction is expected to begin in Q4 2022, with the total proposed construction time around 26 months. Texas Capital Bank provided the construction loan with TriBridge Residential Construction, LLC acting as the General Contractor.