Florida-based developer Urban Network Capital Group (UNCG) has acquired a $24 million construction loan from LV Lending to develop The Flats Orlando, a 1.9-acre condo-hotel resort near Orlando’s central area. The development is a collaborative effort with ZKC and Tivoli Cove Capital. The project is expected to be completed by 2025.
The Flats Orlando aims to provide a combination of residential and hotel services. The seven-story, 160-unit project is located near popular attractions at 4849 West Irlo Bronson Memorial Highway. Currently, 85 percent of the development’s units have been sold. Buyers can choose from various floorplan options, from studios to three-bedroom residences. The remaining one-bedroom and two-bedroom units have been priced at $379,000 and $496,000, respectively. The project has a total estimated cost of $45 million.
The Flats Orlando – Lobby. Designed by ODA Architecture.
“The Flats Orlando is a first-of-its-kind project for the greater Orlando area, and its robust sales is a testament to the demand for high-quality offerings that our company is bringing to the market,” said Urban Network Capital CEO Robert Thorne. “Our unique approach to pioneering The Flats Orlando, with wellness as its cornerstone, resonates with buyers who all share the main desire to live well in all facets of their lives. We remain committed to pushing boundaries in design and real estate innovation while driving attractive pricing and making an impact on this community.”
The design, crafted by Charlotte-based ODA Architecture, includes fully furnished units, a spa, a fitness center, 24-hour in-room dining, and specific areas tailored for adults and children. Additionally, a rooftop terrace and various amenities promote a health-conscious environment. The development will also have a Pool Zone with lanais, a jacuzzi, a community room, and a coffee bar.
The Flats Orlando Rooftop Bar. Designed by ODA Architecture.
The Flats Orlando will offer residence and short-term stay options managed through a designated rental program. A hospitality management group will be responsible for various operational aspects of the development.
With over two decades in the field, Urban Network Capital Group (UNCG) has several projects in the Orlando region. Another notable project includes Visions Resort & Spa, which covers almost 70 acres, encompassing various property types and amenities.
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