Centennial Bank has closed a $73 million construction loan to finance the development of Elysian, a 323-unit luxury apartment community in Winter Garden, Florida, being developed by Unicorp National Developments, Inc.
Located at the northeast corner of Avalon Road and Seidel Avenue in Orlando, Unicorp expects an 18-month pipeline.
Robby Barrows and David Druey at Centennial Bank led the deal.
Planned amenities will feature a wine bar, a fitness center with yoga, Pilates, and cycling studios, a movie theater, a steam room and sauna, a resort-style pool with cabanas, and a clubhouse fireplace.
Winter Garden’s population has grown by more than 40% since 2010 and continues to attract residents due to its strong employment base and quality of life. Krieger Klatt Architects designed the project.
Unicorp’s Chuck Whittall added, “With construction pricing off its peak, we’re entering the right cycle.”
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