Cacema Brings Home 2 Awards at Parade of Homes 2024!

Epoch is proud to announce that Cacéma Townhomes has won First Place and Grand Award for their category in the 2024 Parade of Homes by The Greater Orlando Builder’s Association. This year marked a brand new category title; Multi Family Build to Rent, with Rental Communities only being recently added in the past several years. AAGO continues to partner with GOBA in finding more ways to incorporate Multi Family into their programs, further supporting our industry and growth. Epoch's participation and success further proves the positive contributions of Multi Family to not only the industry, but also to the community at large.

This is the third time an Epoch community has been honored with a Parade of Homes award and the first time for a Build to Rent community in the Epoch portfolio. Cacéma hosted a panel of judges on a tour of the community and even earned a blue ribbon for outstanding amenities.

The Parade of Homes is an opportunity for developers, custom home builders, architects, designers and the like to display their work and products as well as what's trending in the industry. The partnership of the Apartment Association of Greater Orlando and the Greater Orlando Builders Association is what has brought the Apartment Rental Community into the Parade, allowing the carefree lifestyle of apartment living to be highlighted and celebrated.

The Pike in Eagle prepares for first residents in April

Once complete, the first phase of development is expected to provide 216 rental units.

Mackenzie purchased the 30-acre property in 2020 alongside Epoch Residential, a Florida-based real estate developer, construction and management company, and Game Creek Holdings as the Epoch GCH Hockett Gulch Holdings, LLC. The site was purchased from Brue Baukol Capital Partners, which took the property through a lengthy and contested development process with the town of Eagle.

“When COVID hit, you could tell everyone from Denver wanted to move up here. It seemed like a good investment and time to build up here,” Mackenzie said.

In an email, the Epoch leadership team wrote that they “invested in The Pike because we saw the potential in the community and the project overall, as well as the need.”

“We created The Pike to provide a new housing option for the local employees within the town of Eagle. The project will add vibrancy to the town by growing its population in a compact design and in-fill location,” they added.

Of the need for housing, Mackenzie noted that “our numbers and research showed the whole valley is around 5,000 units short on housing — call it around 3,000 rental units (short).”

“The Vail Valley has been faced with a housing shortage and The Pike will help with the availability of attainable housing. The project serves as a new housing option for the local employees within the town of Eagle and we plan to learn from this project as we begin the process for our Phase 2, which will further ease the housing needs for Eagle,” wrote the Epoch leadership team.

The new owners began site work in September 2021 and broke ground in spring 2022.

Building up to 500 units.

The development — which is located on Sylvan Lake Road across from the Eagle Urgent Care — is being constructed in multiple phases, with 36 units representing only a portion of the first phase.

Mission Rock Residential will serve as the property management group for the site. Mission Rock manages numerous properties in Colorado including 6 West in Edwards.

Once completed, the site will have a total of 500 rental units on site.

After its first building opens in April, “the remaining 180 units will open in stages over the next several months for a total of 216 rental units,” Mackenzie said.

The first phase will have 30 studio units, 78 one-bedrooms, 92 two-bedrooms and 16 three-bedrooms. Mackenzie said they expect to have the final four buildings in phase one complete by July and August.

Most of the apartment units will have balconies. All apartments come unfurnished with a washer-dryer in unit, air conditioning, and high-efficiency appliances. None of the buildings will have elevators with ADA-compliant units available on the first floor.

The property will include numerous amenities including a clubhouse (which will open by April 2) — complete with communal space, a dog park, an outdoor grill area with fire pits, a fitness studio, an 18-person hot hub and a pet spa. Additional amenities will eventually include a children’s playground, a ski and bike tuning room, electric vehicle charging stations and some park areas. The site will also be connected to the local paths and have a walking gravel path around the entire site, Mackenzie said.

The second phase will have 284 units, 28 of which will be townhomes, Mackenzie said. The townhomes will be four-bedroom, 3.5-bathroom units with either a one- or two-car garage. The owners and developers hope to break ground on this second phase later this year.

Bringing townhomes to the development was a way to do “something different and give people, and families, more options,” he added.

Per the development requirements, 45% of the available units will be deed-restricted, only to be leased to people who are employed or work within Eagle County for at least 30 hours a week. These deed restriction terms allow remote employees who live in Eagle County, but whose employer is based elsewhere, to qualify.

So far, Mackenzie said that 80% of the traffic and interest they’ve seen has been from people who work for Eagle County-based businesses.

While deed-restricted, there are no rent restrictions, and as such, all the units in the first phase will be offered at market rate. Currently, The Pike website has units listed for between $2,100 for a studio unit and $3,660 for a three-bed, two-bath unit.

“Rents have to be a certain level” to keep up with the high cost of building in Eagle County, Mackenzie said, adding that it is “30%, 40% more expensive to build up here than it is in Denver or other non-mountain communities.”

“If you make those affordable, which we would love to obviously, you need the government to jump in and help out. So I think on phase two, we’re going to work on it much more because we have a little more time,” Mackenzie said.

Article written by Vail Daily.

Epoch Community Wins 2 Golden Key Awards 2023

Epoch is excited to announce that for the second consecutive year Calirosa Winter Park, Epoch’s second Active Adult Community, earned multiple Golden Key awards from the Apartment Association of Greater Orlando.

The two awards earned include:

• Resident Experience Award
• Maintenance Team of the Year

We are proud of the entire team for their dedication and hard work and these awards further cement our commitment to the industry and our residents.

Epoch Develops New Community in Eagle, CO

New Multi-Family Homes Coming to Storey Park

Winter Park, Fla. - Epoch Residential and ParkProperty Capital are pleased to announce the closing of Epoch Storey Park, a 325-unit multifamily development in the prestigious Lake Nona submarket of Orlando, Florida.

“Orlando continues to be a target market for our company, and the Lake Nona area is a beacon for continued growth and activity. We are pleased to be partnering with ParkProperty Capital and to get another great community underway especially given the many challenges in the market today,” says Justin Sand, Principal of Epoch Residential.

Epoch Storey Park is located on a half-moon shaped parcel at Dowden Road in front of the master planned community of Storey Park. The new Epoch community will offer a mix of 1, 2, and 3-bedroom apartment homes amongst several 4 and 5-story buildings as well as carriage homes. Additionally, residents will enjoy a designer 2-story clubhouse with views of the stunning outdoor amenity space including a modern pool, game lawn, gas grills and more that are all overlooking the serene conservation pond. Two resident parks are nestled within the community also boasting ample green space and walking trails for fresh outdoor living. Epoch Storey Park’s location, within Lake Nona, just east of the S.R. 417 Interchange, provides limitless access with the Orlando International Airport and new Brightline train less than 20 minutes away.

The overall design of the community is nature inspired, yet modern with a textural and collected approach all with a light, bright, fresh palette. Old Florida charm with a modern twist give the amenities an eclectic and evolved feel that spark a sense of adventure. Traditional details are reimagined in unexpected ways.

“We are thrilled to partner with such a high-quality developer in Epoch Residential and begin growing our footprint in Orlando,” says Brendan Whalen, Managing Director of ParkProperty Capital.  “This will be our first investment in Orlando where we see a lot of opportunity given the continued growth, especially in the Lake Nona community. Epoch Storey Park is the eleventh investment through our discretionary fund platform that has invested over $350M in equity over the past two years into similar development opportunities throughout the major markets in the U.S. Sunbelt, so this is a significant milestone for ParkProperty Capital on multiple fronts.”

Epoch Storey Park is thrilled to offer new and exciting housing options for Lake Nona residents and families alike and will be an exceptional place to put down roots and create community.

About Epoch Residential:

Based in Winter Park, FL and celebrating over 50 years, Epoch Residential builds sought-after communities with a distinct sense of place in strategically chosen markets with highly skilled partners, specializing in Conventional and Active Adult multifamily properties. The company is focused on garden, townhomes and mid-rise apartments in suburban markets of major MSAs, constructing over 38,000 multifamily homes (155+ multifamily communities) in over 62 cities from Florida to California at a value of over $2.7 billion. Our team creates best-in-class communities elevating the experience for our partners and residents at every touchpoint. Epoch Residential’s leadership team has over 75 years of combined industry experience in the multi-family sector and is best known for its successful track record of developing a sense of place within landmark multifamily communities of lasting quality and architectural excellence.

About ParkProperty Capital: 

ParkProperty Capital (“PPC”) is a multifamily real estate investment firm backed by members of the Otto Family, a high-net-worth German family with over 55 years of global real estate investment experience. PPC is focused on investing in joint-venture development as well as value-add, core-plus, and core acquisitions, which may be acquired directly or with best-in-class local sponsors, throughout the US Sunbelt, Seattle, and Boston.  PPC invests in multifamily real estate through a series of discretionary funds and the family balance sheet.  Its US investment operations and portfolio management are based in Atlanta, GA, where it manages a rapidly growing portfolio of approximately 4,500 units, with a fund management presence in Hamburg, Germany.  For more information, visit parkpropertycapital.com.

About Storey Park:

Storey Park is a 1,270-acre master-planned community designed to promote a healthy and social lifestyle, featuring a clubhouse for events and casual gatherings, parks, picnic areas, and a fitness center. A-rated schools, top-notch healthcare, high average household incomes and strong population growth paired with restaurant and retail development has made Lake Noan and Storey Park an in-demand location.

Parade of Homes Winner

Epoch is proud to announce that Calirosa Winter Park has won the Merit Award for the 2023 Parade of Homes by The Greater Orlando Builder’s Association. This year marked the 70th annual Parade of Homes with the category of Apartment Rental Community only being recently added in the past several years. This is the second time an Epoch community has been honored with a Parade of Homes award and the first time for an Active Adult community in the Epoch portfolio. Calirosa Winter park hosted a panel of judges on a tour of the community and even earned a blue ribbon for outstanding amenities. We were also thrilled to be included in a segment on FOX 35 Orlando’s Good Day Orlando with David Martin. Our Residents participated in showing off the Calirosa Lifestyle and they had blast doing it!

The Parade of Homes is an opportunity for developers, custom home builders, architects, designers and the like to display their work and products as well as what's trending in the industry. The partnership of the Apartment Association of Greater Orlando and the Greater Orlando Builders Association is what has brought the Apartment Rental Community into the Parade, allowing the carefree lifestyle of apartment living to be highlighted and celebrated.

Epoch Communities earn Online Reputation Award

Reputation.com announced the 2023 800 award winners for customer experience and Epoch is proud to share that Calirosa Winter Park and Wildflower are amongst the winning communities. Winners on the 2023 list have proven that they put customer experience at the very core of their strategy and are driven by the voice of the customer to succeed. The 800 Award winners set the gold standard for what it means to be truly customer-centric. Calirosa Winter Park earned an overall score of 873 and Wildflower earned an overall score of 818.

These awards come right after both communities also received Kingsley Excellence awards for customer satisfaction.

Epoch and Communities win awards for Excellent Customer Service

Recently, Grace Hill announced the 2023 Kingsley Excellence Award winners, and all four Epoch communities were amongst the winners!

We are proud and humbled to extend congratulations to Calirosa Winter Park, The Oaks at Southlake Commons, The Oaks on the Lake and Wildflower.

The 2023 Kingsley Excellence Award recognizes individual communities that achieved outstanding performance in 2022. We are excited to share that our entire portfolio has exceeded the Kingsley Index™ benchmark for overall customer satisfaction and will be recognized as a Kingsley Excellence Award winner for 2023!

To earn the award, a community’s Overall Satisfaction score must exceed Grace Hill's Kingsley Index, which is real estate's most comprehensive performance benchmarking database used to level-set, compare and track property performance against industry standards. Kingsley Surveys analyzes over 7 million prospect and resident surveys annually, and the Kingsley Index includes data from over 100 companies, including 5 of the 6 largest property managers.

In addition to being a Kingsley Excellence Award winner, Calirosa Winter Park earned a spot within the Top 100 coming in at number 42.  Our team’s commitment, dedication and hard work creating community for their Residents has earned this prestigious position.

The Kingsley Excellence Elite 5 goes further to recognize the five top-performing multifamily companies across Grace Hill's three main client tiers based on unit count.

Epoch is proud to share that they have earned spot #4 out of 5 for companies with less than 10,000 units.

It is our team members contribution and commitment to elevating the everyday that makes a difference.

Epoch Wins 4 Golden Key Awards

Epoch is excited to announce that Calirosa Winter Park earned three Golden Key awards from the Apartment Association of Greater Orlando as well as our one of our teamamtes, Rossana Gonzalez, earned Leasing Consultant of the Year.

Calirosa Winter Park is Epoch’s second Active Adult community and this is the first year they were eligible for Golden Key nominations.

The three awards earned include:

• Multifamily Development of the Year
• Digital Marketing Campaign
• Interior Design

Rossana started with Epoch at former award-winning property Kestra and most recently is located at The Oaks on the Lake, an Active Adult community third-party managed by Epoch in Clermont, FL.

A special thank you to our partners at HPA design for their support on the Interior Design award entry. We are proud of the entire team for their dedication and hard work and these awards further cement our commitment to the industry and our residents.

Calirosa Kissimmee Wins for Interior Merchandising

Former Epoch community and first Epoch Active Adult community, Calirosa Kissimmee, was announced as winner of the Grand Aurora Award for Best Rental Apartment or Condominium (single unit) Interior Merchandising. Calirosa surpassed the 3 other communities who won the Silver Award for this category. The announcement was made at the awards ceremony during the annual Southeast Building Conference this past month. The community was entered by our Interior Design partner on the project, FORUM Architecture and Design.

The last time an Epoch community won an Aurora award was in 2016 for Highline in Austin, Texas. Highline was honored with an Aurora Award for "Best Multi-Family Housing Community" in the Under 18 du/acre category, a first for this award program.

Featuring 61 categories, the Aurora Awards encompasses all facets of the residential, commercial and remodeling industries. From overall design to sustainability, the awards program offers categories for each participant in the construction industry as well as sales and marketing professionals. The Aurora Awards program is affiliated with the Florida Home Builders Association (FHBA) and the Southeast Building Conference (SEBC), one of two regional trade shows recognized by and affiliated with the National Association of Home Builders (NAHB).

Established in 1979, Aurora Awards are presented annually to outstanding builders, planners, architects, developers, designers, interior merchandisers and other housing-related professionals. Residential and Commercial construction professionals actively involved in projects located in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia and the Eastern Caribbean are eligible to participate.

We're thrilled and delighted to have been recognized in this prestigious award program, congrats Epoch and Calirosa Kissimmee!

New Kissimmee Development

After developing and selling two communities developed in Kissimmee, FL Calirosa Kissimmee Active Adult and Sonceto, Epoch has been actively working on their third parcel of land as part of their Flora Ridge development plans. As the land is undergoing site work the behind-the-scenes preparation continues to make progress towards preleasing in Fall/Winter of 2022 with first units and Clubhouse available in early 2023.

This third Flora Ridge parcel, Epoch developed community will be comprised entirely of direct entry townhomes with garages for rent. There will be 39 buildings total with a mix of 4 and 6 townhomes per building for a community size of 176 townhomes. Epoch looks forward to once again partnering with Carlyle on this deal; previous partner on Calirosa Kissimmee and Sonceto. Duran Jenks is the community’s Superintendent while Amy Risinger is the Community Manager, both seasoned Epoch employees with very successful track records.

While the details of the amenity package and finishes are still being finalized, the level of quality will remain high as expected from all Epoch communities. Future residents can certainly anticipate a stand-alone clubhouse, pool with complimentary outdoor living amenities and open and spacious floor plans.

As Epoch worked with creative agency PUSH, the name Cacéma was chosen. The name originates from a 1752 Spanish map, where it is believed to have transformed into today's Kissimmee. The Epoch team was easily drawn to this name due to the historical nature and connection to the area. Following Epoch’s previous community name selections, the uniqueness makes it a strong choice and will certainly stand out in the market.

Subsequent to naming is bringing the brand to life with a logo, color palette, fonts and textures. Creative agency, PUSH, works closely with the Epoch team on the deliverables to be utilized by Amy and her team as their leasing and marketing tools. Floor plans, renderings and a community site map are all in the works and are just a few of the very beginning building blocks laying the foundation for the community's collateral and website. In this logo expression the visible symbolism of the sun rising over the community represents that there is more to discover and more to explore when residents call Cacéma home.

As Epoch has already recently developed two successful communities in this location and are familiar with the market, they are confident Flora Ridge Phase 3 will also prove to be fruitful. Additionally, Epoch looks forward to continuing their positive contribution to the growth of Kissimmee and the surrounding community by recognizing and developing potential. 

Epoch sells Uptown Altamonte Icon

Lofts holds a special place within the Epoch portfolio for several reasons, it's one of the few long-term hold communities, a mid-rise with concrete construction, has gone through a renovation and a brand refresh as well as hosted multiple Epoch events over the years.

The community was built in 2004 including 8 main floor plans making up the 7 levels for a total of 324 units. One of the most exciting amenities is the top floor resident's lounge overlooking Crane's Roost Lake, featuring the piano, pool tables, community kitchen and lounge space. That spectacular view of the lake never gets old!

Being located adjacent to Cranes Roost Park and all their activities was a huge draw for many residents as well as the close proximity to popular dining establishments, retail, coffee shops, grocers, healthcare and more.

In late 2018 / early 2019 Lofts underwent a physical renovation and a brand refresh. Upgrades included cabinetry, flooring and countertops within the apartments; carpet, paint and lighting enhancements in the hallways, a new cycle studio with custom hand-painted mural, Zen garden and separate countertop BBQ grilling areas as well as the entire exterior of the building was painted. For the brand refresh, a team from Epoch met with a team from creative agency Big Eye and together, they took a deep dive into rediscovering The Lofts. The results were a new, bold logo, color palette, font family and an overall brand and style that matched the personality created by the community at Lofts. These elements were expressed through a new website and collateral.

Led by veteran manager, Michelle Ervin, the Lofts team always had very high resident satisfaction scores, renewal rates and shop scores. During her over 14 years as community manager, Michelle loved to get to know her residents, plan creative events and get social on Facebook and Instagram.

When the time came to pass along the torch, Kyle Mong took it and ran! As another experienced Epoch manager, Kyle jumped in right away with steely determination to achieve the goal of preparing the property for sale.

It's with the leadership of these two and their teams that we are in the successful position we are in today as we close the chapter on the story of Lofts with another successful sale!

First Sale of 2022

When Epoch entered Franklin, Tennessee in 2018 it had been a long time coming. Picturesque scenery, charming downtown, top rated schools, it’s no wonder this community has been booming for quite a while and we wanted in! Situated at the back of a master planned community along I-65, Mandolin was unique for a few more reasons; French-country inspired architecture, interior walk-up apartments, 240 apartments amongst 18 buildings spread out throughout the site and a rocky terrain to overcome.

Inside the apartment homes residents received Epoch's high level of excellence with first-class finishes including shaker-style cabinetry in two color options with granite countertops, subway tile backsplash, kitchen islands with pendant lighting and stainless-steel, energy-efficient appliances. Additional features include wood-plank style flooring throughout main living areas and upgraded carpet in bedrooms along with spacious closets and coat closets in select apartments. Each apartment home also features large windows for natural light throughout.

The natural Tennessee landscape was an important source of inspiration for our community amenity package with a large focus on the outdoors. Mandolin residents enjoy outdoor-living amenities including a resort-style pool with sun shelf, poolside pavilion, countertop BBQ grills with bar seating and a hammock grove. In addition, the community offers open-air recreation with firepits with seating, resident parks featuring arbors, and a gated dog park.

Mandolin residents also enjoy the expansive French-country inspired clubhouse featuring an inviting clubroom with kitchenette & coffee bar, game tables, relaxing lounge seating and cozy fireplace. 24-hour fitness center with the latest cardio and strength excercise equipment and a wellness room dedicated to private yoga and Pilates practice is also included in the stunning amenity package. The clubhouse also features a conference room. The clubhouse also features a conference room with private work pods for convenient remote working.

During the naming and branding process, we looked to the country music roots of the local area, the historical significance of Franklin and the natural beauty of Tennessee for inspiration and carefully chose the name Mandolin at Stream Valley. A Mandolin is a stringed musical instrument in the lute family used often in bluegrass and folk music. The logo was created as an abstract rendition of an acoustic instrument's sound hole, also echoing organic, natural elements found in the Tennessee landscape.

The team received C/O for their clubhouse in March 2021 and shortly after received C/O on their first 3 buildings. The team then had 8 move-ins within a week of opening! had a busy event schedule from day one along with creative outreach to drum up new business.

A stellar combination of teamwork, creative thinking and customer service created incomparable value attracting several buyers. We officially closed on this journey on January 6th, 2022; thank you for everyone at Team Mandolin!

First Active Adult Community Sells

Calirosa Kissimmee officially closed on Tuesday, December 14th, 2021. When we first internally announced Calirosa Kissimmee, formerly Flora Ridge, in May of 2018, we had no idea the exciting journey that lied ahead. We closed on the land in February of 2019, however all the behind-the-scenes preparatory work started far earlier, around early to mid-2018. Here we are 3 years later, finishing out 2021, with a successful sale and super-fast closing of our very first Active Adult Community, Calirosa Kissimmee!

We first announced the name at a local property tour for Managers during our Leadership Conference in September 2019. The name Calirosa was inspired by the word "Calaroso" which is Italian for warm, hearty, cordial. Cali is also a Greek root which means beautiful or lovely. Rosa is Spanish & Italian for rose or flower. 

Despite preleasing efforts starting and opening the property during a global pandemic in early 2020, Calirosa was wildly successful. Thanks to tremendous teamwork and a great manager, Amy Risinger, our equity partners stated, “Our first active adult community with Epoch, Calirosa, experienced the fastest lease-up in our entire Active Adult portfolio, despite a below average and very efficient marketing and preleasing budget”

Calirosa Kissimmee was comprised of one (4) story building with 152 one-bedroom, one-bedroom + den and two-bedroom apartment homes. With 9’ foot ceilings, wood-plank style flooring, shaker style cabinets and granite countertops these spacious floor plans were a true hit! Community amenities including resort-style pool, large cocktail lanai, game room and outdoor walking trail enabled Residents to genuinely unwind. But perhaps it was the packed social schedule that was a crowd favorite. With a variety of activities, Calirosa residents always had something fun planned.

We have learned a lot developing our first Active Adult community and are excited that the brand lives on with Calirosa Winter Park.

A big thank you to all who made Calirosa what it is today, we are so proud of all we accomplished together! 

Parade of Homes Winner

New Epoch Community

Epoch is excited to announce one of thier newest communities in the works located in West Melbourne! As designs are finalized, we are eager to embark on the naming and branding process as well as developing and constructing into a full blown community with a distinct sense of place. 

Epoch anticipates closing on the land this October and starting construction in November! West Melbourne will be a garden style community comprised of 280 apartment homes, amongst 5 buildings with 1, 2 and 3-bedroom floor plans. Each building will have elevators, private garages and dedicated work spaces. Other community amenities include a clubhouse, pool area, playground and pet park.

This community will be located about 75 miles east of Epoch's Winter Park Home Office at the cross section of I-95, Minton Rd. and Norfolk Pkwy. The land is adjacent to Promise in Brevard, a nonprofit organization designed to provide affordable, independent housing for individuals with cognitive and physical disabilities, developing a model community. In addition to contributing to the positive growth and economic impact, Epoch is excited to also have the opportunity to extend some philanthropic support to Promise.

This will be Epoch's second joint venture with Equity Resources, who is also their Partner on Calirosa Winter Park, a 55+luxury community in Winter Park, FL. City council meetings to seek approval for the project have been tough, but the community was approved and Epoch is well on their way to another groundbreaking!

Sonceto has sold

Epoch enjoys another successful sale

Kestra Apartments, located in southwest Orlando, is a class-A community with 8 floor plan styles amongst 280 units within 4 buildings. The community features a sprawling two-story clubhouse, with state-of-the-art fitness center and plenty of space for residents to spread out or gather together. The pool area features a pool lounge, hammock grove and counter-top BBQs. Interior amenity features include shaker style cabinets in two color choices, wood-plank style flooring, granite counter-tops, kitchen islands and pendant lighting. 

The community created a new sense of place for Residents in the hospitality industry seeking an elevated lifestyle with a convenient location to shopping, dining, popular grocers and entertainment. 

Epoch first purchased the land in late 2017 and began developing in 2018. In 2019, the community won Top Apartment Project in the Resident Real Estate Awards from the Orlando Business Journal as well as a Silver Orlando American  Advertising Award in the Online/Interactive category for Community Website. In 2021, Kestra Apartments was entered into the Parade of Homes with winners being announced in late July. Kestra's sale was successfully completed on June 23rd after a rigorous due diligence schedule.

Utah real estate investment firm makes market entry with purchase of new apartments next to O-Town W

As reported by Amanda Rabines of GrowSpotter

White Castle isn’t the only thing luring people to O-Town West these days. Real estate investment companies are interested in being there, too.

Utah-based Blackfish Investments just bought a 250-unit apartment community next to the large mixed-use district being developed by Unicorp National Developments. Blackfish Investments paid $68.5 million, or $274,000 per unit, for the recently completed multifamily development at 10000 Palma Linda Way.

“Utah has a very strong multifamily market…Orlando was our second pick to our hometown. That says an awful lot,” Dave Freeman, a founding principal at Blackfish Investments, told GrowthSpotter.

He said this is the company’s first acquisition in the metro Orlando market, but it’s bought and has since sold properties in Tampa. “We’re more of an opportunistic company,” Freeman said. “As we find opportunities we’ll take advantage of them.”

The seller is Epoch Residential. The company paid $7.5 million for the 10-acre-site in 2018 and began construction on the apartments shortly after with the help of a $31.63 million loan from BB&T, now Truist.

Berkadia’s managing directors Brett Moss and Matthew Wilcox, alongside associate director Tyler Swidler, secured the sale on behalf of Epoch Residential.

Records show Blackfish Investments financed the deal with a $36.25 million loan from Nationwide Life Insurance Company. Berkadia’s Michael Weinberg and associate directors Wesley Moczul and Alec Fox arranged the financing on behalf of Blackfish investments.

Built in 2020, the Veere Apartments community contains three, 4-story multifamily buildings, a two-story clubhouse, resort-style pool and a two-story fitness center. Other amenities include a resident library with workspaces and a gated dog park with indoor pet spa.

One-, two- and three-bedroom units include stainless steel appliances, granite countertops, walk-in closets, USB charging ports and electronic keyless entry.

Blackfish is a real estate investment company that specializes in multifamily and student housing. Freeman said the company has been active for 30 years. According to its website, the firm acquired over $1 billion in multifamily assets nationwide and underwritten more than $2.5 billion of real estate acquisitions.

The Veere Apartments complex neighbors O-Town’s City Center, poised to include Marriott Vacations Corp.  headquarters, a 160-room hotel and 26,000 square feet of retail space.

O-Town West is a multi-phased project in Orlando’s Dr. Phillips area that is approved for over 1,500 residential units with retail, dining and office space divided among four sub-districts.

Earlier this year, Unicorp broke ground on The Bentley, a 396-unit midrise apartment community at O-Town West.

Site development work for The Glass House, a trio of 8-story residential towers in the Village subdistrict is underway. Unicorp received a $77 million loan in December from Goldman Sachs to finance the first phase of that project, which includes the first tower and the lagoon amenity.

Publix, Crunch Fitness, White Castle, World of Beer and Portillos are just some of the retailers announced to open locations at O-Town West. The large mixed-use project is slated to be complete by the fourth quarter of this year, according to recent reports.

Three Epoch Communities Earn Resident Satisfaction Award

The 2021 Kingsley award winners are here and Epoch is proud to announce three communities in their portfolio earned the Kingsley 2021 Excellence Award; Veere, Kestra and The Lofts at Uptown! This award recognizes individual communities for outstanding performance in resident satisfaction and offers an opportunity to showcase a community's team and living experience to current and future residents alike. For 50 years Epoch has set out to create stunning communities that people are proud to call home, without our Residents we wouldn’t be where we are today. We take great pride and pleasure in serving our Residents and aiming to elevate the experience every day.

Kestra and Veere are both led by outgoing Community Manager, Kyle Mong, who is known to visit his Kingsley Dashboard multiple times throughout each day! An Epoch veteran, Michelle Ervin, runs a tight ship at The Lofts, with an very resident focused approach. Both Kyle and Michelle continuously work hard to make their communities a great place to live and often find themselves having a little “friendly competition”. We are proud of them both and their teams!

Epoch Community Makes J. Turner Elite 1%

Sonceto Apartments, in Kissimmee, FL, has made J. Turner's ORA Power Elite 1% for 2020. The Online Reputation Assessment, or ORA, score is a tool for the multifamily industry to measure and benchmark online reputation. It was created by J. Turner research company and is a statistical model that aggregates and analyzes online ratings and reviews of over 122,000 properties across multiple review sites and Internet Listing Sites to generate a single score from 0-100.

Sonceto began preleasing in the Spring of 2020 and opened in late Summer, welcoming Residents to their inviting and warm modern farmhouse style clubhouse. Clearly the impeccable customer service from team Sonceto has not gone unnoticed and we couldn't be prouder! Check out the community and all its offerings at epochlivingsonceto.com 

Epoch Employees Excel

Epoch’s employees continue to impress and make a positive impact within the multifamily industry. Most recently Shana Jackson was installed onto the Apartment Association of Greater Orlando’s 2021 Board of Directors. The AAGO Board of Directors are the leaders charged with oversight of the association's operations, finances, and objectives as just an example. Shana has worked in multifamily for 15 years, 5 of which at Epoch Residential where she has taken on several leadership roles and is currently a multi-site Community Manager for two communities in Clermont, FL. Each year Shana gains invaluable knowledge as she is always striving to learn more, but her love and passion for the industry has grown too. Shana is proud to get her team involved to help support their career path as well as offer guidance and training. It is her commitment and investment that has fostered her colleagues own career growth, many of which she has kept in touch with.

Throughout her career Shana has been involved in many events, such as AAGO’s Business Exchange, Annual Tradeshows, and Golden Key Awards.  In addition, Shana has attended several continuing education courses such as Landlord Tenant Law, Supervisory Skills, Fair Housing, CAM and has received her NALP, EPA Certification, and CPO Certifications. 

“I believe and stand by the fact that it helps to understand not only administrative tasks, but maintenance as well.  With education you can effectively train your teams and increase overall productivity”, Shana states.

In 2019, Shana served as Vice Chair of the Young Professionals Committee. In 2020 she was promoted to Chair of the Young Professionals Committee and reelected for 2021.  In this role, Shana is responsible for welcoming individuals who are new to property management while providing support and mentorship especially in the area of networking within the industry. Another important aspect to her role is to advocate for education and strengthen the Greater Orlando multifamily market by building relationships.

We asked Chip Tatum, President of AAGO to share his insight as well and here's what he had to say, Leaders like Shana Jackson are one of AAGO’s most critical resources! In January the AAGO Board was honored to welcome Ms. Jackson onto the Board of Directors for her first term. Shana has clearly demonstrated her leadership as Chair of the AAGO Young Professionals, and has been instrumental in cultivating the next generation of industry and association leaders. She also sits on the Diversity and Inclusion Task Force where she has provided invaluable insight into the steps the association can take to foster an environment where people of diverse backgrounds and experience can thrive. We have no doubt that Shana will flourish in this new role and that AAGO will further benefit from her leadership and expertise!

We are also excited to be celebrating Evan Jackson’s recent accomplishment as one of the National Apartment Association’s 20 in Their Twenties. NAA’s 20 in Their Twenties celebrates the best and brightest in the rental housing industry. They are individuals who are 29 years or younger that have made great professional achievements in their career and have the potential to go far. 

Evan has been with Epoch Residential for 10 years this coming May and has been highly valuable in managing Wildflower, our community in Gainesville that caters to Graduate students without being a traditional student housing community.

Evan answered some questions for NAA about his career achievements, goals, and what trends he is seeing. Here are some excerpts from their conversation, but to see the details in their entirety please visit NAA’s website here.

Evan’s biggest career achievement to date has been the opportunity to be entrusted by Epoch Residential to travel to properties within the portfolio to provide assistance and training. In Jacksonville, Evan served as an Assistant Manager where he focused on increasing occupancy and resident satisfaction through various new marketing methods. In Arizona, Evan assisted the team in completing a due diligence in preparation for their sale. Evan has also helped new properties with training and general leasing efforts while they complete construction.

A career goal of Evan’s includes advancing from an on-site management position into a role that focuses on operations management. Throughout his tenure with Epoch, Evan has served as a Leasing Agent, Assistant Manager, and Community Manager giving him firsthand knowledge on the various aspects of property operations.

Evan shares, “I would be the first to say, without shame, that I have a passion for examining property operations and analyzing various aspects of the company’s operations. To some that sounds like a major snooze fest, but to me I see the potential of analyzing operations as a chance to make changes for the betterment of the properties or the company. It's a chance to make meaningful adjustments by working with the management team to implement policies or procedures that benefit all stakeholders.”

A trend in the industry that Evan follows closely is the need to satisfy the needs and requirements of millennials. Evan states that, “Millennials make up a large majority of the rental housing demographics and we must continue to adapt and change just like millennials are able to quickly adapt to their surroundings. Additionally, the millennial generation covers a wide range of individuals born between 1981 and 1996. This is a large scope of people that have differing interests and are in various phases of their life.” One emerging concept Evan sees on the rise that appeals to millennials and even the generation after them are co-living communities. Evan believes that co-living communities are a great way to differentiate a property from the market standards and directly target individuals in their transitional phases, which are typically millennials and even a portion of the generation after them.

Epoch is proud of both Shana and Evan’s accomplishments and contributions as well as grateful for such valuable and dedicated employees.

Epoch Residential Celebrates 50 Years

Epoch is thrilled to celebrate 50 years of developing best-in-class communities thanks to the enduring support of our partners since 1970. And since then, we’ve set out to create stunning communities that people are proud to call home. As we toast to 50 years of breaking new ground, we’re grateful for our resident’s trust in us and the hard work, commitment, integrity and talent of every member of the Epoch Residential team.

We’re thankful to have our partners by our side as we enter a new chapter. Exciting updates are underway, including new ownership, a redefined brand, fresh ideas and a reinvigorated commitment to serving our partners, residents and each other. This milestone is for all of us to share and we hope our residents experience life in our communities even better than before. We’re eager about what’s next and we’re exhilarated for our success to come.

Epoch Residential sells Phoenix apartments to Knightvest Capital

PHOENIX, June 24, 2020, – JLL Capital Markets announced today that it has completed the sale and financing of Capital Place apartments located at 11 S. 12th St. in Phoenix, Arizona.  The sale officialy closed on Tuesday, June 23rd, 2020. 

JLL arranged the sale from Epoch Residential to Knightvest Capital. JLL also worked on behalf of Knightvest Capital to secure acquisition financing through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.

Capital Place was built in 2016 and contains 292 multi-housing units within two five-story buildings. A high-demand apartment community, resident amenities include a resort-style swimming pool, state-of-the-art fitness center, clubhouse, spa, access to cabanas and barbeque grills, parking garages and more. In-home features include stainless steel kitchen appliances, custom kitchen cabinets, granite counter tops and covered balconies, among others.

The Class-A community is located in the metro-Phoenix area, in close proximity to the city’s popular business and entertainment districts such as the Phoenix Convention Center, Chase Field (MLB), Talking Stick Resort Arena (NBA) and multiple renowned medical and education institutions.

JLL Capital Markets Investment Advisory team representing the seller includes Mike Higgins, Charlie Steele and John Cunningham. The acquisition financing was placed by Mark Brandenburg and Brad Miner.

Epoch Residential continues to succeed, despite an ongoing Nationwide pandemic due to Cronovirus. The sale of Capital Place and purchase of Aloma Methodist Church, to be redeveloped into luxury apartments for the Active Adult demogrpahic, as recently reported by Growth Spotter, are signals of stability and growth. 

Epoch Closes on a New Deal

Award-winning Epoch^® Communities

At the end of 2019 the Apartment Association of Greater Orlando and the North Central Florida Apartment Association celebrated the multi-family industry with an awards gala.

We are humbled and honored to receive several awards across both associations.

Our Central Florida communities had 11 nominations up against hundreds in 26 categories and took home 3 awards; Sea Isle Resort Apartment Homes; Housekeeper of the Year, Regla Perla, The Oaks at Southlake Communities; Service Tech of the Year, Derrius Wood and Best Community of the Year. This is the 3rd consecutive year for winning both award categories for The Oaks.

Wildflower, in Gainesville, FL took home the Conventional Community of the Year award at the annual ACE ceremony. Wildflower has recently remodeled its amenity space to include a study room and an outdoor kitchen. Inside, the hallways have been repainted and the flooring is being replaced. Wildflower is implementing a new experience for Residents as well through the popular TF living. Wildflower has been a longstanding asset in the Epoch^® portfolio.

Plans may change for Epoch's Winter Park development

A Winter Park apartment project may become a community for active adults age 55-plus.

Winter Park-based Epoch Residential has updated its plans for a 190-unit development at 3045 Aloma Ave. on roughly 6.9 acres northwest of Aloma Avenue and Semoran Boulevard, according Orange County records. The project, called Epoch Aloma, may cost $36.1 million to build, based on industry standards. Maitland-based Madden, Moorhead & Stokes Inc. is the civil engineer.

Construction may start in summer 2020.

"Based on our analysis of the location, the demographics and the feedback we received, an active adult community was the more opportunistic route," said Justin Sand, president and COO with Epoch.

Apartment growth in Central Florida continues

Central Florida, Apartments and Epoch have all been making a lot of headlines in the news lately. As population and job growth continues, so does the demand for Apartments and Epoch is leading the way in Central Florida! The Orlando Business Journal keeps a close eye on growth of all kind in Central Florida, therefore several of Epoch’s current and new projects have already been covered to some extent.

The latest coverage, by Jack Witthaus, staff writer at OBJ, focuses on the 1,000 newly announced apartments coming online in Central Florida in addition to the already 12,000 previously announced this year.

Originally covered back in February of this year, Epoch’s Flora Ridge project is quite active these days on the ground and behind the scenes with naming and branding. This project will feature 2 phases being built concurrently, one as a Conventional community and the other as an Active Adult community.

More recently announced is the Epoch Aloma project in Winter Park, with plans for a 241-unit community at the corner of 436 and Aloma. Another Epoch project making local headlines includes a 320-unit apartment-complex northeast of State Road 429 and U.S. 192 in the Waterstar mixed-use project near Disney. Epoch Residential was also recently recognized as Central Florida’s biggest apartment developer, with more than 2,129 units built or under construction since 2014.

Epoch continues to fuel its pipeline with projects in underserved and growing markets with a robust demand.

These 27 Central Floridians absolutely owned the summer

In late August the Orlando Business Journal covered 27 locals who impacted a busy summer of logging new construction projects, defense contracts, major mergers, land purchases and more.

Epoch Residential's President, Justin Sand was recognized for his announcement of plans to build a 320-unit apartment complex northeast of State Road 429 and U.S. 192 in second quarter 2020 as well as for the plans filed for a 241-unit project at 3045 Aloma Ave. in Winter Park.

The first project is 10 acres and will be part of Maitland-based Equinox Development Properties Inc.'s 20-acre, $125 million Waterstar project, which will also feature a hotel and shops. The Aloma project is on roughly 6.9 acres and will add to a submarket with little inventory and high demand. 

A few other local business leaders in the group of 27 included Tom Williams of Universal Parks & Resorts for his announcement of Epic Universal, Craig Ustler of Ustler Development Co. for his plans on downtown's Creative Village, Dr. Deborah German for her contribution to the growth of UCF's Medical School and Tom Roehlk, Vice President of Tupperware, for his expanded plans for a mixed-use development in Osceola County.

Epoch is No. 1 Developer in Orlando

Orlando is one of the hottest apartment markets in the U.S., largely driven by population and job growth.

And since 2014, the five biggest developers have built a combined $1.6 billion in new apartments here, based on industry standards. These developers have helped create thousands of jobs and new units in the fast-growing Orlando market.
That said, Central Florida's biggest apartment developer is Winter Park-based Epoch Residential. The developer has built or is under construction on more than 2,129 units in Central Florida since 2014. And there's more to come — Epoch Residential revealed plans for a new project near Walt Disney World and another in Winter Park.

Apartments are big business in Central Florida, where the industry contributes $28.7 billion to Orlando’s economy, according to a Hoyt Advisory Services study. In addition, the industry supports roughly 151,020 jobs in Orlando.
Orlando's hot apartment sector has a low 3.7% vacancy rate, according to Charlotte, N.C.-based Real Data Inc. Orlando's apartment market has an average monthly rent of $1,302. There are more than 10,183 apartments in the local construction pipeline, and one-third of those are being built in or near downtown Orlando.

In addition, there seems to be no end in sight for apartment development, said apartment expert Scott Ramey, senior managing director with New York-based Newmark Knight Frank (Nasdaq: NMRK). “There’s a shift in demographic preferences that’s pro-apartment. Until there’s some massive slowdown in population or job growth, you’re not going to see a slowdown on the apartment demand side.”

Access the full article via our LinkedIn page and view the photographic slideshow. 

Central Florida Development on the Rise

Epoch Residential wants to start construction on a 320-unit apartment complex northeast of State Road 429 and U.S. 192 in second-quarter 2020, President Justin Sand told Orlando Business Journal. It will be part of Maitland-based Equinox Development Properties Inc.’s 20-acre, $125 million Waterstar project, which also will feature a hotel and shops.

The 10-acre apartment project, which has yet to be named, may cost $60.8 million to build, according to industry standards. The southwest-2 apartment market, which includes the Waterstar project, features monthly rents of $1,437, which is higher than the Orlando-area average of $1,302, according to Charlotte, North Carolina-based Real Data Inc.

“We’re still in the early planning stages, but looking forward to a great project that exudes the quality and attention to detail typical of Epoch’s communities,” Sand said.

The project adds to Epoch’s growing Orlando apartment portfolio. The developer has more than 800 units planned and about 1,000 units under construction. In July, Epoch filed plans for a 241-unit project at 3045 Aloma Ave. on roughly 6.9 acres northwest of Aloma Avenue and Semoran Boulevard. The project, called Epoch Aloma, may cost $45.8 million to build, according to industry standards.

More than $3.6 billion worth of metro Orlando apartment projects either are proposed or under construction. The southwest-2 apartment market, which includes the Waterstar project, has an average apartment complex vacancy rate of 6.8%, compared with 3.7% for greater Orlando, according to Real Data.

“There’s such a huge demand,” Duane Anderson, an investment associate with Marcus & Millichap Inc. (NYSE: MMI) in Orlando who isn’t involved in the project, previously said of apartments.

The Waterstar project is across the street from the $750 million Margaritaville Resort Orlando. That hotel features an island-themed lobby, multiple eateries and bars, a spa, kids’ club and fitness center, three pools, a grand staircase in the lobby and a presidential suite named after the famed singer Jimmy Buffett himself.

Reported by Jack Witthaus of the Orlando Business Journal

Epoch Residential Sells 308-Unit San Antonio Asset

Epoch Residential has sold the 308-unit Wiregrass at Stone Oak in San Antonio to Sherman Residential, Yardi Matrix data shows. Nationwide Life Insurance Co. originated a $26.9 million acquisition loan for the new buyer. The loan matures in 2024. The sale marks the first time the property has traded since opening its doors in 2015.

Located on 15 acres at 20303 Stone Oak Parkway in a growing residential area, the asset’s 14 three-story buildings are within 2 miles of several retail and dining options, less than 20 miles north of downtown San Antonio. The community comprises one-, two- and three-bedroom apartments with floorplans ranging from 668 to 1,285 square feet. Common-area amenities include a dog park, pool, fitness center and business center with a conference room. The property was 93.2 percent occupied in June, per Yardi Matrix.

The sale comes at the heels of another disposition for Epoch Residential. Last month, the company sold the 293-unit Maitland Station in Maitland, Fla.

Another successful sale for Epoch Residential

JLL announces it has closed the sale of Maitland Station, a 293-unit, mid-rise apartment community in Maitland, Florida, on July 25th, 2019.

JLL arranged the sale of the property from Epoch Residential to Nicol Investment Company (“Nicol”). Nicol purchased Maitland Station free and clear of existing debt.

Maitland Station is located on the historic Parker Lumber Yard site at 801 Orlando Avenue. Completed in 2018, the luxury transit-oriented development is adjacent to the Maitland SunRail station, which provides access to the area’s top retail, dining, employment and recreational destinations. Floor plans include a mix of one-, two- and three-bedroom units averaging 942 square feet that are appointed with high-end amenities, including Shaker-style cabinetry, subway tile kitchen backsplashes with granite countertops, stainless steel appliances, wood-style flooring, floor-to-ceiling windows, in-unit washers and dryers and electronic keyless entry. Community amenities include a pool with lounge area and fire pit; outdoor summer kitchen with gas grills; 24-hour fitness facility with separate CrossFit studio; cyber café; media room; game lounge with billiards and community kitchen; private conference room and business center; and pet park with dog washing station.

The JLL Capital Markets team representing the seller was led by senior director Brett Moss and managing director Elliott Throne.

“We are thrilled to buy a high-quality, core asset in the vibrant Maitland community and capitalize on its proximity to the SunRail,” said Grant Nicol, director of finance for Nicol Investment Company. “It was a pleasure to work with the Epoch Residential and JLL teams on a successful transaction.”

“The Orlando multi-housing market continues to garner robust interest from a diverse roster of investors due to the positive market fundamentals such as employment and population growth that continue to play out across the region,” Moss added. “It was a pleasure to advise Epoch Residential on the strategic sale of the property to Nicol, who are eager to expand their presence in Orlando.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether a sale, financing, repositioning, advisory or recapitalization execution. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Epoch proposes new project close to home

Winter Park-based Epoch Residential filed plans for a 241 unit project at 3045 Aloma Ave. on roughly 6.9 acres northwest of Aloma Avenue and Semoran Boulevard, according Orange County records. Maitland-based Madden, Moorhead & Stokes Inc. is the civil engineer.

The location is attractive due to its proximity to State Road 436, a grocery store and Park Avenue, an upscale shopping district in Winter Park. It’ll also add to a submarket with little inventory and high demand.

“There are not many apartment complexes with a Winter Park address,” said Luke Wickham, senior vice president in Orlando's CBRE Inc. (NYSE: CBRE) office, who is not involved in the project. “They’re going to do great.”

The east-1 submarket, which includes Epoch Aloma, has an apartment vacancy rate of 2.9% which is lower than the Orlando-area average of 3.7%, Charlotte, North Carolina-based Real Data Inc. reported. The submarket’s average monthly apartment rent is $1,270, compared with the Orlando-area average of $1,302.

The apartment project would join more than $3.6 billion worth of metro Orlando apartment projects that either are proposed or under construction

The Praedium Group Acquires Phoenix-Area Property, Town Commons

After recently acquiring the 367-unit Harper for $57 million, The Praedium Group has bought the 306-unit Town Commons in Gilbert, Ariz. Additionally, New York Life Insurance Co. originated a $46 million acquisition loan for the new owner.      

Located at 1000 S. Gilbert Road, the asset has access to US-60, US-202, US-101 and Interstate 10, with downtown Phoenix being 25 miles southeast. According to Shaun Houlihan, analyst with The Praedium Group, the positioning grants residents access to more than 400,000 square feet of retail and entertainment options within walking distance. The property is situated inside the Gilbert Town Square mixed-use shopping center, which features restaurants, fitness centers, retail, a 44-lane bowling alley and a 14-screen Megaplex movie theater. Additionally, the asset is close to several employment corridors, such as East Valley—where national corporations such as JP Morgan and Intel relocated—and Gilbert’s CBD, where Deloitte opened a 2,500-person corporate campus.  

The community comprises a mix of one-, two-, three- and four-bedroom apartments in two two-story townhouse buildings, 10 two-story carriage homes and 12 three-story garden style buildings completed last year on a 21.1-acre site. Common-area amenities include a pool, clubhouse, dog park, outdoor lounge with bonfire pits and BBQ area. In May, the asset was 91.8 percent leased, according to Yardi Matrix information.    

As reported by Lucia Morosanu of Multi-Housing News

New and newsworthy; Kestra

A lot has happened since Kestra made its debut in the news via GrowthSpotter, in September of 2017, when the land was just under contract. 

Most recently Kestra has been recognized as Top Apartment Project in the Orlando Business Journal's 2019 Residential Real Estate Awards. Kestra was ranked 16th in the list of 2019 Central Florida construction projects underway. 

Beyond the lists and awards is the pride of developing a new community, a place where Central Floridians, current and those relocating, will call home. 

Kestra is a brand-new class A luxury apartment community with eight unique layouts consisting of 1, 2, and 3-bedroom floorplans, including atownhouse option, for the distinguished resident. As one of the newest housing options in the submarket, this bold new approach to apartments in Orlando, blends functionality and the aesthetic of natural surroundings offering an exceptional lifestyle for residents.

 The minimalist, yet interesting architecture breaksfree from the norm and appeals to the elevated style of the target market, currently being underserved. Developing Kestra fills a void in the market, whileoffering a new option that raises the bar on apartment living in Orlando, providing residents with a more distinctive lifestyle.

Kestra affords a new sense of community to be established amongst the hospitality industry living and working in the south Orlando area. Creative types, managers and professionals who have been seeking a high-quality apartment home with modern sensibilities and everyday conveniences in a natural surrounding have a new place to call home.

The project is located close enough to all of Orlando’s world class resorts and hospitality icons, yet is far enough off the beaten path to feel separated and centered from the hustle and bustle. Kestra is conveniently located to several grocery and shopping options as well as a plethora of dining and entertainment establishments.To the north and east, residents are greeted with access to the Tibet Butler Nature Preserve, championship golf courses, and Windermere’s crown jewel, the Butler Chain of Lakes.Centrally located near Orlando’s main thoroughfare, I-4, residents have extreme Central Florida access as far southwest as Tampa and as far northeast as the beaches.This prime location links residents to the best of both worlds Orlando has to offer; pocketed between unparalleled entertainment and natural beauty.

The Kestra lifestyle combines modern sensibilities and evryday conveniences seamlessly into its natural surroundings. 

Please visit the Orlando Business Journal for the complete coverage.

* Edited on June 23rd, 2021, originally posted on March 27th, 2019.

Apartment Ratings Top-Rated Communities Announced

These annual awards are earend by an approximate 5% of properties listed on ApartmentRatings.com, making it an outstanding accomplishment for the qualifiers. 

Congratulations to:

• The Lofts at Uptown Altamonte - 5th consecutive year to earn Top-Rated
• Lakeside Walk
• Cane Island
• Sea Isle Resort Apartment Homes
• Town Commons
• The Oaks at Southlake Commons
• Wiregrass at Stone Oak - 3rd consecutive year to earn Top-Rated

For the full list of winners, please visit ApartmentRatings.com. 

Modern Details Abound

The I-4 “Disney interchange” is set for tremendous growth, especially along the Palm Parkway mixed use corridor. Epoch Residential enlisted Fugleberg Koch to help design and develop the new addition to the Epoch portfolio, with Kestra Apartments, to fill the growing demand for housing in the area.

Kestra is a new gated apartment community located in Orange County, Florida off of Winter Garden Vineland and Vista Oaks Street. This residential market rate project and its proximity to the attractions in the Kissimmee/ Disney area makes this development important to support the surrounding workforce. Kestra is currently under construction and is scheduled for completion in late 2019. 

Kestra consists of a total 280 units within (4) 4 story, elevator-served residential buildings. There are 8 different dwelling unit types including 1, 2 & 3 bedroom flat units as well as 3-bedroom Townhome units, all with balconies. 

“One of the main design objectives was to provide and incorporate Modern architectural features for a cohesive and harmonious environment. Clean lines and a corresponding material palette assisted with achieving this goal. The Design Team, including the Interior Designer, Landscape Architect and Civil Engineer purposefully chose appropriate design elements working together to enhance the overall image of the project.” -Kyle Paxton 

The amenity design package includes a spacious two-story Clubhouse with generous indoor and outdoor seating areas, a central gathering area with kitchen bar, individual work kiosk areas, a movie & game flex-space as well as a Fitness and Pilates retreat. The Leasing & Business Center are located adjacent to the main area, as well as an enclosed Mail Center with an Amazon package center and Valet dry cleaning service for residents.

Epoch Residential gears up for construction on new Kissimmee apartments

Winter Park-based Epoch Residential will break ground in the next 30 days on a pair of multifamily communities totaling 448 units in Kissimmee's LOOP submarket.

The luxury multifamily developer closed last week on 74 acres in the Flora Ridge Mixed-Use PUD, east of Dyer Boulevard and about a third of a mile south of Osceola Parkway. Epoch paid about $6.5 million for the property, which has approved plans with the city of Kissimmee for up to 788 dwelling units.

Epoch President Justin Sand told GrowthSpotter the project is divided into the three phases, but Epoch will build the first two phases concurrently, along with the extensions of Ball Park Road and Thacker Avenue. The developer is awaiting final permit approvals from the city.

Phase 1 is a 296-unit Class A apartment community with a combination of 4-story elevator-served buildings and 3-story walk-up garden apartments. Phase 2 will be a separate 152-unit active adult community, Sand said.

"It's been a long time since Epoch has done anything in this submarket," he said. "It will be comparable to Integra Sunrise Parc and the projects by Fore Property Company. It's not like anything we're building in Orlando."

Sand said Epoch enlisted Forum Architecture, which has an extensive portfolio of projects in Kissimmee, including the nearby assisted living facility, to design the communities capitalizing on the popular "modern farmhouse" trend.

"For the active adult, the space is larger, so that's one design difference," Sand said. "There's a wellness center that expands on the fitness center concept." 

Epoch received a conditional use approval from the city to build an assisted living facility in Phase 3, but Sand said the firm has the option of doing a 292-unit apartment complex instead.

TD Bank provided financing for both projects: $35 million for the apartments and $16.9 million for the active adult community. The first units should be delivered by the First Quarter 2020. 

Epoch Residential® Recognized for 2nd year as Home Innovation NGBS Green Partner of Excel

Epoch Residential has been named a Home Innovation NGBS Green Partner of Excellence for 2017. NGBS Green, which is based on the National Green Building Standard™ (NGBS), has certified more homes than any other national green home certification program. Being one of an elite group of Home Innovation’s green certification participants to be recognized validates the commitment Epoch Residential has made to providing its customers with increased value, comfort, durability, and efficiency through its NGBS Green Certified apartment homes.

“What a year!” said Home Innovation Vice President Innovation Services Michelle Foster. “NGBS Green celebrated its 100,000th NGBS Green Certified home in March 2017, and less than a year later we have certified an additional 28,000+ homes. In 2017 we also marked the first 2015 NGBS Green Certified home; started development of the 2018 NGBS, which will now cover mixed-use multifamily buildings; and Home Innovation was selected as ENERGY STAR MRO for high-rise multifamily buildings. We could not have attained all these milestones – while at the same time continuing to provide an affordable, rigorous certification program that provides value to the entire residential construction industry – without dedicated partners like Epoch.” 

To date, Epoch Residential has constructed over 10 multifamily projects with over 2,800 units that were NGBS Green Certified by Home Innovation Research Labs, with another 3 future projects and over an additional 1,000 units in the coming 12 to 24 months. These certified homes include energy and resource-conserving features such as, energy star appliances, low-e double pane windows, energy star qualified lighting, 14-14.5 SEER heat pumpsystems, programmable thermostats, high efficiency water heaters, additional water efficiencies throughout and indoor air quality measures as well as overall environmentally responsible site considerations. 

"Epoch is not only proud to have earned the NGBS Green Partner of Excellence for the second consecutive year, but also to be able to provide green-freindly living to our residents." stated Epoch Residential President and COO, Justin Sand. 

To earn certification to the National Green Building Standard, a multifamily building must meet rigorous criteria in six categories – Lot & Site Development; Resource Efficiency; Energy Efficiency; Water Efficiency; Indoor Environmental Quality; and Homeowner Education. There are mandatory practices in each category that every Green Certified home or building must meet, and there are a wide range of additional optional practices in each category that a builder can select based on the applicability to buyers or renters in their market. There are also mandatory point minimums in every category in order for a building to attain the next level of certification, which is a more stringent requirement than any other national certification program.

Since January 2009, when the National Green Building Standard (NGBS) became the first residential green building rating system to be approved by the American National Standards Institute (ANSI), Home Innovation Research Labs has certified nearly 130,000 green single-family and apartment homes, and more than 1,650 lots within green residential land developments. (For more details on current certification numbers, visit www.homeinnovation.com/ngbsgreenstats.) For more information on NGBS Green Certified homes and Home Innovation’s NGBS Green Partner home builders and remodelers, visit www.NGBS.com.

Maitland Station Wins Award

The Residential Real Estate Awards were introduced to Central Florida by the Orlando Business Journal in 2017 and this year, recognize 11 projects, companies and individuals. These awards honor builders, significant residential property sales or developments that were announced, had a transaction completed or were under construction between January 2017 and January 2018. Congratulations to all of the winners!

Maitland Station, one of Epoch's newest properties, is proud to announce they received the award for Best Green Community this year. Epoch Residential is a proud partner and participant in the National Green Building Standard Home Innovation program seeking certification on all their projects under development. Each project undergoes rigorous inspections throughout development to meet stringent standards in green certification. Not only is Epoch building green projects, but they are building healthier apartment homes that go beyond energy efficiency for thier Residents. 

A transit-oriented development, Maitland Station, is located at 955 N. Orlando Ave. in Maitland on the Winter Park border, conveniently accessible via SunRail. For details on the community, including floor plan styles and availability please visit their website here. 

For the full article on Orlando Business Journal including the full list of 2018 award winners, please visit their website here. 

Estimated $50M luxury apartment complex in the works near Disney

Winter Park-based Epoch Residential wants to build a 250-unit apartment complex at the southeast corner of Palm and Daryl Carter parkways — right next door to the $100 million Vineland Pointe shopping center underway, according to plans filed on Nov. 21 with Orange County. A construction timeline on the project — dubbed Palm Parkway for now — hasn't yet been determined, said Epoch Residential President and COO Justin Sand. However, the firm has been working on the project for about eight months, targeting a parcel owned by long-time land man Daryl Carter of Maury L. Carter & Associates Inc. Part of the draw was the site's proximity to the new Vineland Pointe complex being developed by New York-based O'Connor Capital Partners, Sand said. "We like what O'Connor Capital Partners is doing," Sand told Orlando Business Journal. "The revitalization of Disney Springs, Sand Lake Road and [Interstate] 4 — there are a lot of things happening." Meanwhile, Carter expects to sell the 10-acre parcel to Epoch Residential by next summer, he said. Neither Sand nor Carter shared an anticipated sales price, however, marketing materials list the land at about $700,000 per acre — amounting to an estimated $7 million sale. "They’re local folks, they’re reputable and they do a great job," Carter told OBJ. "We wanted to work with a group of their integrity and caliber. "In that area, there is a very limited supply of land. I don’t have any problem finding buyers but I want a top-quality buyer, something that enhances the area and someone who can get through the process in Orange County." And there's plenty of demand for people to find places to live in that busy employment hub.

Jim Pugh to be inducted into the Horatio Alger Association of Distinguished Americans

For more than seven decades, this distinguished award has been recognizing outstanding men and women who, having succeeded in spite of adversity, inspire young people to strive for their highest potential. Having "pulled themselves up by their bootstraps," Horatio Alger Award winners serve as role models for young Americans demonstrating what can be achieved through the free-enterprise system. 

This Award for becoming a Lifetime Member is looked upon as a privilege and an honor, joining the ranks of some of our nation's most inspiring leaders in making an investment in America's future through supporting need-based scholarships for deserving young people who have faced adversity.

Jim will be presented with the Horatio Alger Award and inducted as a Member during the 71st Horatio Alger Awards Induction Ceremony in Washington D.C. this coming April of 2018. 

To learn more about the award and the Association visit their website.

Epoch Residential revives apartments plan for site east of Disney, lines up more land

As reported by Bob Moser on Growth Spotter.com

Winter Park-based multifamily developer Epoch Residential has a new site in Orlando's tourism corridor under contract for a potential 250 apartments, and should close next month on 14 acres east of Disney World, a lead executive with the company told GrowthSpotter. 

Located in the 10000 block of Winter Garden Vineland Road (C.R. 535), Epoch was told in May by Orange County planners to tone down its 340-unit density goal for the "Vista Oaks" project planned on 14 gross acres.

The site lies directly north of Unicorp's 258-unit Zen Luxury Living apartments, west of the Grand Cypress Resort golf course, and is surrounded by job drivers like Walt Disney World and supporting hospitality businesses. 

Epoch needed county approval to rezone the 14-acre assemblage to its own new Planned Development. Some planning staff couldn't support its original requested 25.75 dwelling units per acre, considered too dense when viewed next to another high-density project in Zen Luxury (20 units per acre).

Epoch wasn't inclined back in May to lower the project's density to 266 units, but in the past month agreed to reduce the unit count by 60, to 280.

The developer will also preserve 2.17 acres of wetlands on the property's northwest corner along C.R. 535, leaving 11.85 acres of net developable area. Those concessions helped Epoch earn DP approval on Aug. 23 from the Development Review Committee. 

"It took a concerted effort in site planning based on the new net acreage, so we had to go back to square one (for the unit count) to see what we could accommodate on the reduced site," said Justin Sand, president and COO.

The redesigned plans now feature four buildings of four stories, with 122 one-bedrooms, 126 two-bedrooms and 32 three-bedrooms. Surface parking will total 499 spaces, and 6.5 acres are reserved for recreational open space.

Epoch is scheduled to close on the 14 acres in mid-September, said Sand, which involves three land owners behind multiple LLC affiliates. 

The developer applied for an environmental resource permit on Wednesday with the South Florida Water Management District for Vista Oaks, and has permit requests under review with the county for demolition and mass grading, Sand said. 

"We hope to be underway with both demo and site work as soon as possible before year's end, and be vertical some time in late First Quarter 2018," Sand said. 

Epoch Residential will serve as general contractor on the project, and is receiving bids now for the demolition GC position. 

The company will seek a construction loan to help finance the project and should close on that in December, Sand said. He declined to forecast total project cost. 

Elsewhere in the county, Epoch Residential recently brought 10 acres under contract near Orlando's tourism corridor. The property is part of a 19.78-acre parcel that lies directly south of the Daryl Carter Parkway intersection, between Palm Parkway and Interstate 4, and owned by an affiliate of Daryl M. Carter, president of Maury L. Carter & Associates. 

The developer envisions 250 Class-A apartments there in a series of four-story buildings, Sand said. Epoch's timeline for producing and submitting a DP for that project and acquiring the land is still undetermined, he noted. 

The property lies directly northeast of a 2.75-acre parcel under contract to Simply Self Storage, withconsideration for a 100,000-square-foot facility. 

Epoch and other property owners along Daryl Carter Parkway are banking on the future construction of an I-4 interchange by the Florida Department of Transportation (FDOT).

FDOT has an official project number assigned to the future interchange, which is still working with adjacent property owners Carter and O'Connor Capital Partners on land contribution agreements. If approved, construction wouldn't start until 2018 at the earliest. 

Fugleberg Koch is Epoch's Vista Oaks project architect, Madden Moorhead & Stokes is civil engineer, Dix.Hite + Partners is landscape architect, Bio-Tech Consulting has done environmental consulting, and Becky Wilson, shareholder and chair of the Land Use & Zoning Group with Lowndes, Drosdick, Doster, Kantor & Reed, P.A., has provided legal counsel. 

Maitland Station featured in FAA Magazine's Community Spotlight

Maitland Station Boosts Green Living in Central Florida
By: Alexis Vilaboy

Being able to travel along the I-4 corridor without having to deal wiht the stress of driving on the construction-heavy interstate is something that residents of Maitland Station will be able to take advantage of.  

The new community, which began leasing in June, is adjacent to the Maitland SunRail stop and lies at the edge of Winter Park, making it a prime location in regards to worry-free transportation, as well as popular shopping, dining and entertainment options. 

Maitland Station is under the management of Epoch Residential, which also manages communities including Paseo at Winter Park Village and Lofts at Uptown Altamonte. "Epoch Residential is proud to take part in shaping the development of Maitland, while providing a superior product for our future residents to enjoy," said Sara Montuori, director of marketing for Epoch Residential. "Living on the cusp of two vibrant cities - Winter Park and Maitland-each with thier own style and varied offerings, is sure to be an exciting place to call home."

The mid-rise community, slated to open in October, will be offering 293 options for one-, two-, and three-bedroom luxury living. The 14 different floor plans will vary in size from 616 to 1309 square feet. Living on the edge of Winter Park and Maitland certianly comes with its benefits. Residents will be conveniently located near Park Avenue, the new Winter Park Square, Shops of Maitland, Enzian Theatre, Winter Park Village and the Lake Lilly area and Farmer's Market. 

Once residents leave the outside and step inside the community, the amenities are endless. A pet park with a wash station will be great after long, summer walks with man's best friend. A yoga studio and fitness center will offer accessibility to group and individual workout options. Other amenities include a summer kitchen, cyber cafe, business center/conference room, game room, fire pit, and a clubhouse with a lounge area. 

Enjoyment continues within the living spaces themselves with stainelss steel appliance packages, granite countertops, vinyl plank flooring, carpeted bedrooms, and a center island in the kitchen. 

"Watching a new project come out of the ground is always invigorating for our team at Epoch Residential," said Shannon Hayden, director of property management at Epoch. "Developing the personality of a new project that future residents will call home is a great responsibility that we handle with extreme care. We're very much looking forward to meeting our new residents during our lease up this summer." Living at this community will not only be good for one's lifestyle, but it will also be good for hte planet. 

Maitland Station will be seeking Natiaonl Green Building Standard certification, which means the building would have to fulfill demanding criteria in six categories: Site development, resource efficiency, energy efficiency, water efficiency, indoor environment quality and homeowner education. 

Maitland Station is the all-in-one luxury experience that is perfect for the working professional that wants to help the planet by living in an environmentally friendly community and take SunRail to and from work every day. 

Epoch Residential Earns SatisFacts 2016 Resident Satisfaction Award

Epoch Residential is included among nearly 350 property management companies working with SatisFacts to improve the resident experience, retention and online reputation. 

It is with humble pride that Epoch announces their earned Superior Company Score for the InSite survery program, achieveing a score in the 4.00 - 4.49 range. 

Epoch thanks and values all of our hard working onsite team members for their continued dedication and passion towards our residents' satisfaction. 

HFF Secures $36.3 Million Financing for 292-unit Multi-housing Community in Downtown Phoenix

HFF worked exclusively on behalf of the borrower, Epoch Residential, to place the three-year, floating-rate loan with a life company lender.

Capital Place is located on the eastern edge of downtown Phoenix near attractions such as the Phoenix Convention Center, Chase Field, Talking Stick Resort Arena, Phoenix Biomedical Campus and Arizona State University’s downtown campus.  The transit-oriented, mid-rise community is also adjacent to the Phoenix Valley Metro light rail, which connects downtown Phoenix to Tempe, Mesa and the Phoenix Sky Harbor International Airport.  Completed in 2016, Capital Place has 292 units averaging 827 square feet with high-end amenities, including stainless steel appliances, custom kitchen cabinets, granite countertops, faux wood flooring and covered balconies.  The community also features a resort-style pool with spa, barbecue grills and private cabanas; state-of-the-art fitness center; clubhouse; business center; game and media room; controlled access and garages. 

The HFF debt placement team representing the borrower was led by managing director Elliott Throne and senior director Brad Miner.

“Downtown Phoenix continues to attract capital from developers and lenders alike,” Miner said. “The property’s location on the light rail along with positive leasing momentum, institutional quality of the asset and strong sponsorship resulted in significant interest from various debt providers.”

About HFF
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0938500 and NMLS Number 1524298.

Epoch Residential Communities Earn Top Rating from Apartment Ratings

These annual awards recognize properties with outstanding resident satisfaction as measured on ApartmentRatings.com. Approximately 5% of the total properties listed on the site qualify for an award making an outstanding accomplishment!

Top Rated Award Criteria is as follows:

• 10+ total reviews
• 5+ reviews in 2016
• Overall recommended score of 70% or greater*

Congratulations to Coventry Park at Southpoint, Lofts at Uptown Altamonte, Station House, Thornton Park and Wiregrass at Stone Oak. 

For the full list of 2016 winners visit ApartmentRatings.com.  

EPOCH BRINGS NEW MULTI-FAMILY HOMES TO BEXLEY BY NEWLAND COMMUNITIES

Bexley is owned in a joint venture partnership between NORTH AMERICA SEKISUI HOUSE, LLC (NASH), the U.S. business unit and full subsidiary of SEKISUI HOUSE, LTD., Japan’s largest homebuilder and leading diversified developer, and Newland Real Estate Group, LLC, whose development business, Newland Communities, is the master developer of the community. Bexley is one of more than 30 communities the NASH-Newland partnership owns together in 11 states across the United States.

Lakeside Walk at Bexley will offer eight buildings and 300 units, along with a clubhouse, luxury amenities and a one acre park northeast of the Suncoast Parkway and State Road 54, in Land O’ Lakes. The community will feature one, two and three bedroom apartments with both attached and unattached garages.

Just 25 miles north of Tampa, the upscale units will have the same nature-inspired look and feel as the Bexley community with tree-lined streets and resort-style amenities, including a clubhouse with a 2,200 square-foot fitness room, pool, spa, outdoor barbeque area and park. Residents will also be able to enjoy miles of scenic walking, jogging and biking trails within Bexley. The trails will eventually become part of the Suncoast Trail and Orange Belt Trail.

“Epoch Residential has been a wonderful partner and we’re pleased to work with them as they bring Lakeside Walk at Bexley to life,” Thomas Panaseny, Newland Communities’ Vice President, General Manager for Tampa North. “These multi-family units will be another exceptional housing option for area residents. With the opening of Bexley Elementary School in August, 2017, an off-site emergency room, a planned hotel, convenience store, office and commercial space, residents will truly be able to live, work and play within the community.”

Added Justin Sand, Epoch President and Chief Operating Officer, “Epoch Residential is proud to contribute to the Bexley community with our newest project, Lakeside Walk, a development that will provide the upscale lifestyle Epoch residents have come to expect.”

Lakeside Walk at Bexley is expected to open in the Fall of 2018. 

Epoch Residential Recognized as Home Innovation NGBS Green Partner of Excellence

Epoch Residential has been named a Home Innovation NGBS Green Partner of Excellence for 2016. NGBS Green, which is based on the National Green Building Standard™ (NGBS), has certified more homes than any other national green home certification program. Being one of an elite group of Home Innovation’s green certification participants to be recognized validates the commitment Epoch Residential has made to providing its customers with increased value, comfort, durability, and efficiency through its NGBS Green Certified apartment homes.

“As the home building market continues its rebound,” said Home Innovation president and CEO Michael Luzier, “dedicated partners like Epoch Residential prove that participating in our rigorous third-party certification program isn’t just a passing fad – it’s a strategic business decision that is paying dividends and changing the marketplace. Others around the industry could benefit from following the lead of this year’s Partners of Excellence and building on their success.”

To date, Epoch Residential has constructed approximately 10 multifamily projects with over 2,800 units that were NGBS Green Certified by Home Innovation Research Labs. These certified homes include an estimated 15 - 25% energy and resource-conserving features over standard code projects. Savings vary for each project, however include features such as, energy star appliances, low-e double pane windows, energy star qualified lighting, 14-14.5 SEER heat pump systems, programmable thermostats, high efficiency water heaters, additional water efficiencies throughout and indoor air quality measures as well as overall environmentally responsible site considerations.

Epoch Residential President and COO, Justin Sand states, “Achieving recognition as a 2016 Partner of Excellence demonstrates Epoch Residential’s commitment to raising the bar in multifamily development.”

To earn certification to the National Green Building Standard, a multifamily building must meet rigorous criteria in six categories – Lot & Site Development; Resource Efficiency; Energy Efficiency; Water Efficiency; Indoor Environmental Quality; and Homeowner Education. There are mandatory practices in each category that every Green Certified home or building must meet, and there are a wide range of additional optional practices in each category that a builder can select based on the applicability to buyers or renters in their market. There are also mandatory point minimums in every category in order for a building to attain the next level of certification, which is a more stringent requirement than any other national certification program. 

Since January 2009, when the National Green Building Standard (NGBS) became the first residential green building rating system to be approved by the American National Standards Institute (ANSI), Home Innovation Research Labs has certified nearly 100,000 green single-family and apartment homes, and more than 1,650 lots within green residential land developments. (For more details on current certification numbers, visit www.homeinnovation.com/ngbsgreenstats.) For more information on NGBS Green Certified homes and Home Innovation’s NGBS Green Partner builders and remodelers, visit www.NGBS.com. 

Epoch Sponsors 'SunRail on Saturdays' Expansion

OBJ Names Justin Sand 2016 '40 Under 40' Honoree

Epoch Residential is proud to announce that our president, Justin Sand, has been named an honoree in the "40 Under 40" class of 2016 by the Orlando Business Journal.

From the article:

As Central Florida grows, so too, does its population of bright, entrepreneurial and driven young professionals — and here, we introduce you to 40 of those young guns.

Along with professional success, the honorees also have been heavily involved in the local community through charitable causes and missions that help make Orlando a world-class city.

View all 2016 honorees here>>

Epoch Project Wins 2016 Aurora Award for Design

Construction kicks off on $47M apartment complex by SunRail

Homebuilders: Epoch Residential

Some developers take on more work than they can handle, but Epoch Residential sets limits to maintain quality, President and COO Justin Sand states. “The [goal] of this company is to do three or four projects a year, and we’re going to stay at that pace,” he states.

Based in Winter Park, Fla., Epoch Residential specializes in multifamily real estate management and development in the Southeast and Sunbelt. Since its start in 1970, the company has developed more than 34,000 units and managed over 100,000 units in 55 cities.

Sand explains that the company originally started as two separate firms: Epoch Properties and Epoch Management. In the last 18 months, both merged to form Epoch Residential, which has since been reorganized, he says.

Read the full article online>

A Testament to Strategic Growth

As Epoch Residential celebrates its 45th anniversary this year, the firm's team is able to reflect on all that they have accomplished over the past several decades.  

The firm, based in Florida, has developed more than 34,000 residential units and has never lost its investors' money.  At this time, Epoch has about 2,000 additional units in various stages of development.

Read full article on p.83>

Two New Epoch Deals Exceed Goals, Hit 90% Pre-Leased in Under 12 Months

Paseo at Winter Park Village and Nona Park Village Apartments topped 91% and 92% pre-leased this month, respectively.  Both communities opened their doors to residents in December 2014, offering top-grade features and amenities such as Paseo's unbeatable location with a walkscore of 80, lush landscaping and expansive clubhouse; and Nona Park Village's outdoor bocce ball and cornhole courts, community garden, and carriage-home style apartments.

View all Epoch communities>

Epoch's Newest Community in Austin, TX Begins Pre-Leasing

Located just half a mile from Apple's 1M square-foot campus in Austin, TX, Highline offers residents a casual yet elegant community to call home.  Highline is designated ICC 700 by the National Green Building Council, and features luxury amenities such as an expansive clubhouse, resort-style pool and patio, large fitness center with yoga room, and more.  Luxury features inside its apartments include 9-foot ceilings with fans, USB charging outlets, granite countertops, wood-plank flooring, walk-in closets, and full-size washer and dryer.

Visit Highline's website>

Capital Place Coming to Downtown Phoenix

Apartment construction boom boosts East Orlando and Lake Nona economy

Source:  Insight Magazine

Date:  July 1, 2015

Residents of East Orlando may have noticed a distinct uptick in the number of apartments being constructed in the area, and they can expect to see more of the same as 2015 continues. The addition of these apartment homes is doing more than adding curb appeal to popular areas such as Lake Nona, it is supporting the economy (and its workers) by the millions.

In fact, The National Apartment Association and the National Multifamily Housing Council recently conducted a study to quantifyt the economic impact of apartment communities, and according to www.WeAreApartments.org, a new 200-unit apartment community in the Orlando metro area has a total economic impact of $42.2 million, potentially supporting 413 total jobs in the economy.

Director of Public Affairs & Communications for The Apartment Association of Greater Orlando Amanda Hoang attributes the surge in construction to the growth in development in Lake Nona.

She says, “The growth in the Lake Nona area is … fueled largely by the growth in Medical City and the expansion of that region of Central Florida in general. A lack of apartment stock in the area and the surge in new employment are also key considerations, and the decision to develop is based on supply and demand. As businesses and jobs continue to flourish in the area, we expect that multi-family development will follow suit.”

According to a press release issued by the National Multifamily Housing Council, the local economic contribution from the apartment industry totaled $5.8 billion, supporting more than 57,800 jobs in the Orlando metro area.

“The good news is that the positive impact of a new apartment community does not stop when construction concludes. Instead, it continues to grow as residents move into the apartment community and bring their spending power to the local economy,” says Hoang. 

Of course, these apartments are not being constructed without some sort of approval process from the local government, a process which Hoang says takes no less than two years. Factors like zoning, land use, density, design requirements, and infrastructure needs at the local level play a pivotal role as well in whether apartment design concepts come to fruition at all.  

Similarly, Executive Vice President and CEO of the Apartment Association of Greater Orlando Chip Tatum, explains “Demand for apartments in the Orlando metro area is at a post-recession high, due to accelerated job growth. Additionally, this city attracts many younger workers, who are more likely to rent apartments,” in the same press release. 

To that point, the Federal Reserve Board’s triennial Survey of Consumer Finances issued a report in 2014, highlighting that median and mean incomes for renters and other families declined only 1 percent between 2010 and 2013, contributing to the rise in rentability in the US. As for the future of apartment construction, Hoang says East Orlando residents can anticipate “community gathering spots or centers, a focus on our furry friends with amenities ranging from dog parks to dog grooming stations, and an attempt to appeal to demographics such as millennials and baby boomers.”

“Other key focuses for new developments include walkability, urban centers, bike stations, and transit-oriented development,” she adds.

By Natalie Costa

Strong job market, new demand draws more apartment developers to I-Drive corridor

Source:  www.growthspotter.com

Date:  June 19, 2015

Demand from millennials, baby boomers and an ever-growing tourism labor force is driving new apartment development in the International Drive corridor. Nearly as many new projects have been prepped in the sub-market for construction over the past two years as the number opened there since 2010, and developers tell GrowthSpotter demand should draw more construction in the near future if rising land values allow.

Eight new apartment developments have been opened since 2010 in the two zip codes that encompass the I-Drive corridor -- 32819 and 32821 -- bringing 2,390 new units to the area. There are now 22 apartment communities in that I-Drive corridor sub-market, with 7,101 units overall, according to the Apartment Association of Greater Orlando (AAGO) and ALN Apartment Data, Inc.

In the past two years, at least seven more new apartment projects have been permitted for construction or registered their development plans with Orange County government. Those include:

7207 Crossroads Garden Drive (Alexan Crossroads): 314 units

6801 Integra Cove Blvd. (Integra Cove Apartments): 64 units

12014 Meadow Bend Loop (Bristol Lakes Apartments): 416 units

8500 Kediamann Ave. (Damai Apartments): size unconfirmed

10900 Turkey Lake Rd. (Turkey Lake Road Condominiums): 196 units

11600 block of International Dr. (Ancora Apartments): 288 units

9703 Avellino Ave. (The Courtney Apartments): 355 units

“The number of apartment complexes being built near I-Drive in recent years is incredible,” said Luann Brooks, executive director of the I-Drive Improvement District. Closer analysis may be pursued in the future on how to develop the I-Drive area with more residential in mind for the 40,000-plus employees who support the sub-market, she added.

When looking at new markets or expanding markets, the first thing developers look at is job growth, said Chip Tatum, CEO of AAGO.

“Building near existing infrastructure is ideal, but obviously in Central Florida there are challenges to that, as this area’s original plan was sprawling growth at any cost,” he said. "Infrastructure is still secondary to the demographic numbers they need to make a project work, and I-Drive has it."

I-Drive job growth rivals that of the UCF-Medical City area for LeCesse Development Corp., which prompted the company to invest a projected $44 million in the 288-unit Ancora Apartments on South I-Drive later this year.

Orlando's apartment rental market’s top two demographic groups for the foreseeable future are millennials and baby boomers, Tatum said. Those consumer groups are pushing the evolution of apartment amenities to include features like communal gathering space, dog parks and pet services on-site, dry cleaning services and more.

“One similarity we’ve noticed between the demands of millennials and those of baby boomers is the desire for community and shared spaces, whether that be a café, a pool area or a community garden,” said Justin Sand, president and COO for Epoch Residential, which opened the 356-unit Sea Isle Apartments near SeaWorld in 2014.

“Those types of amenities — ones that give residents a chance to connect with each other — are frequently included in our plans.”

Proximity to I-Drive’s dense zone of employment and easy highway access were keys in drawing Altamonte Springs-based developer ContraVest to Universal Boulevard and Destination Parkway, where it’s currently building The Courtney Apartments with 355 units.

“Home ownership in 2007 at the height of the market was at 68 percent, but has now dropped down to 63 percent, so we’ve lost around 5 percent of homeowners nationally and had millions go back into the rental market,” said John Schaffer, principal and CFO at ContraVest. “I’ve heard from analysts that this figure may drop further to 61 percent, so even more will be moving to the rental market.”

ContraVest is able to promote walkability for The Courtney in a way few apartment developers can along the I-Drive corridor.

Its residents have a Publix within walking distance at Lake Cay Commons Plaza, a Walgreens pharmacy directly across the street that’s occupying ground-floor retail space at The District apartments (opened in 2014 with 425 units), and the expectation of retail and dining build out on undeveloped parcels bordering two sides on Universal Boulevard.

Some apartment developers in the I-Drive area are making informal use of the “Live-Work-Play” marketing tag that helped popularize Downtown Orlando in recent years. I-Drive has the entertainment and dining options well in hand, which may be enough to win over potential renters who are less concerned with the area’s low Walk Score.

“For those two top growth demographics, access to leisure, dining and entertainment are just as important or more for them than walkability,” said AAGO's Tatum. “They’re very social demographics, and apartment communities provide that access to mix and mingle.”

Dining and retail developers still won’t bank solely on the foot traffic of a new apartment property when considering whether to set up shop nearby. But because they study day-time population, traffic counts and the tourist head counts for nearby hotels, the I-Drive corridor is able to meet the metrics needed by commercial developers of grocery, pharmacy and other staples that are becoming expected in mixed-use environments, said Tom Heer, commercial realty broker with LandQwest.

bmoser@growthspotter.com or (407) 420-5685

NAA Taps Veteran Supervisor from Epoch for 2015 Conference

Epoch at forefront of Transit-oriented development in Central Florida

Epoch holds successful neighborhood meeting in Gilbert, AZ

Epoch’s Jim Pugh featured on Central Florida Multifamily panel at CREW-Orlando event

Light Rail Propels $6.8B in Private Investment and Counting

Economic development along the light rail in metro Phoenix is a testament to the success of public investment spurring private enterprise.

The public capital investment in metro Phoenix's light rail totals nearly $1.5B, and total investment has been more than $6.8B. The first 20 miles of the light rail system opened in December 2008.

The number of projects – recently completed, under construction and planned projects – from 2008 to present total 169.

"There's been a lot of positive activity along light rail," noted Albert Santana, light rail project administrator for Phoenix.

"The development downtown with ASU has been great."

Of the nearly $7B in development the light rail has spurred, Phoenix alone has seen $5B in economic development activity, including 48 new restaurants in the downtown core alone.

Opportunity still exists, as vacant parcels remain scattered along the 20-mile route; among them are sites on the south side of Camelback at 17th Avenue, on the southwest corner of 7th Avenue and Camelback, the southwest corner of Central and Turney avenues, on the southwest corner of 28th Street and Washington, on the southeast corner of 38th Street and Washington, and on the north and south sides of Washington at 48th Street, and at 56th Street and Washington.

"As a city we're always trying to encourage (development) and we hope get those places activated, depending on land-use policy," Santana said. "In downtown, we've tried to find ways to allow flexibility for the private sector."

Future opportunity looms

Future opportunity looms as well; seven rail extensions are under way and by 2034 the rail will cover 60 miles. The 40 additional miles will be built using a variety of funds, including regional and city sales tax revenue and federal grants.

Today, weekday riders average 44K, and those who ride the entire 20 miles take an hour from end to end. Trains operate seven days a week, more than 20 hours a day.

Super Bowl XLIX spurred a record doubling the highest daily ridership; on Saturday before the game, light rail carried nearly 130K passengers, about twice the previous maximum seen.

"Before that, our highest daily boarding was 68,000," Santana said.

Students and Faculty Contribute to Ridership

One aspect of development that has been especially successful is in education.

Arizona State University accounts for 18 to 20 percent of the boardings when the school is in session, and students in two high schools on the line ride the train as well, Santana said.

The rail helped sell universities on locating in Mesa. Benedictine University is at 225 E. Main St., and Wilkes University is at 245 W. Second St., about a block away from the rail. "As they toured the city, they liked the idea of locating around the light rail, which is huge connecting piece" since people who live in other parts of the Valley can easily get to downtown Mesa.

"If you speak with those universities, they will tell you that when they were making their decision about where they would set up shop, where they would plant their flag, both considered light rail pretty strongly in their decision," said Shea Joachim, senior economic development project manager in Mesa.

Mesa's busiest station is the eastern terminus, near Dobson, and construction is under way to extend the rail 3.1 miles east, into downtown Mesa.

"We're pretty excited about that. Light rail brings some opportunities to west Mesa and downtown.

Mesa's comprehensive planning effort

About three years ago, Mesa put in place a comprehensive planning effort for the area surrounding light rail, the boundaries being from University to Broadway and Country Club to Gilbert Road.

The city wanted to put in place a regulatory environment for future planning to encourage transitoriented development.

"When you make that significant of an investment, if you don't put an environment into place to encourage complementary development along it, you will have friction from what you're asking of the development community."

Out of that effort, the city developed one vision for the central Main Street area. Another key, he said, was the city's form-based zoning code, which is different from how it has done zoning in the past. In the conventional method, planners are worried about separation of uses. Residential use is kept away from heavy industrial use, for example. In the form-based approach, more attention is paid to the form of the building and less attention is paid to the uses within.

"We've put in place a document that really demonstrates to the development community, the private sector, what types and form of building we're looking for along light rail," Joachim said. "It gives predictability as to what the city is looking for, and allows developers to be flexible with uses. We hope that planning effort will be the impetus for economic development in… downtown Mesa.

"It's a high-level vision calling for transit-oriented development in appropriate places near and around the stations and preservation of key neighborhoods," he said.

It affords opportunities to add density to parcels and create an urban ambiance, but he said he is not talking 25- to 30-story towers but in the 4- to 6-story range.

"There's a character and charm to downtown that we're trying to preserve," he said.

"Light rail is a big piece of the puzzle; it's not even in operation yet (downtown), but we're excited about the future could bring."