Ventures Development Group and Batson-Cook Development Company (BCDC) have broken ground on Orange City Apartments, a 13-acre garden-style multi-family project in Orange City, Fla.
The 298-unit community is the latest for the joint-venture partnership of Ventures Development Group and BCDC, following similar projects in Terrell, Texas and Jacksonville, Fla. Orange City Apartments will have ten residential buildings, each rising three stories, with a clubhouse and an amenity building. With unit sizes ranging from 597 square feet to 1,345 square feet, (average of 918 square feet), the project offers efficiently designed floor plans, appealing to local employees, particularly in the health care industry, that prioritize a convenient commute to job centers, a strong community amenity package, luxury unit finishes, and proximity to a robust retail, restaurant, and entertainment base.
Orange City Apartments will offer best-in-class unit finishes and an extensive resort-style amenity package. The project will include a pool, fitness center, leasing & amenity space, a dog park, walking paths, both detached and attached parking garages, carports, and a gated front entry. The Project will also offer private, fenced-in backyards for 40 apartments, providing a unique unit upgrade and an additional point of differentiation.
“We are excited to be underway on our third development with Ventures Development Group,” said Litt Glover, President and CEO, BCDC. “Rob McConnell and Sean Siebert have a strong record in building communities with market-leading designs and amenities with the highest level of integrity.”
Orange City Apartments is advantageously positioned between Orlando and Daytona Beach, allowing for a commute to regional job centers in addition to local employment opportunities in the rapidly growing Orange City submarket. The city is particularly attractive due to its thriving healthcare industry, an amenity base consisting of essential popular retailers and restaurant staples, as well as access to critical job centers throughout the Orlando area.
“We’re very pleased and excited to team up with BCDC yet again to deliver another signature apartment community to Florida. The entire BCDC team brings immeasurable attributes to the table, which have allowed our team to succeed in delivering high-quality communities,” said Sean Siebert, Principal, Ventures Development Group.
The project is in close proximity to AdventHealth Fish Memorial, Halifax Health | UF Health and Amazon, which have fueled the local economy with significant investments in the area. Capitalizing upon Orange City’s robust economic and population growth, the project will serve the strong workforce employment base, consisting of nearly 35,000 jobs within a 10-mile radius.
Patterson Real Estate Advisory Group served as capital advisor. Cadence Bank and Bluerock Residential Growth REIT are providing financing. Flournoy Construction Group is the general contractor and Humphreys & Partners Architects is the architect.
Delivery of first units is expected in late 2022.
About Ventures Development Group
Ventures Development is a fully-integrated multi-family development and management firm with offices in Southlake, Texas and St. Augustine, Fla. VDG believes in a “value creation” approach when taking on real estate development opportunities. Whether through Rezoning, Entitlement Reform or Incentive Procurement, VDG believes all great and successful development opportunities begin and end with organic value creation. For more information, visit www.
Founded in 1963, BCDC is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, BCDC offers a wide variety of real estate services from development and construction to equity and credit enhancements, to brokerage and property management. It is a wholly-owned subsidiary of Kajima USA. Visit www.batsoncookdev.com
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