• jimshorkey

Land Purchase For High-End Apartments Near Downtown Orlando

DRI Maple Colonial LLC purchased 2.1 acres in Orlando's Mills 50 district. The plans are to build a 245-unit apartment complex on the property. The construction time is unknown, but expected to start within six months.

The complex will primarily feature studio units, which will be 154 of the 245 units. There will also be one-bedroom and two-bedroom units. The project will also include 15 live/work units, which contain both living area and an office. The complex will feature a 5,618-square-foot dog park, a pool courtyard, and a parking deck.

Local apartment rents are climbing as more than 100 people move to the metro area each day. The average monthly rent in Orlando was $1,541 in June, according to RentCafe. That was a 9% increase from June 2020, and it puts Orlando's average rent above the national average of $1,482.