Unicorp National Developments, Inc. is moving forward with the construction of Elysian, a new 323-unit luxury apartment community in Winter Garden, Florida. Backed by a $73 million construction loan from Centennial Bank, the project marks Unicorp’s return to large-scale multifamily development and is aimed at addressing growing rental demand in one of Central Florida’s fastest-growing submarkets.
Located at the northeast corner of Avalon Road and Seidel Avenue, the project occupies a key site in Winter Garden, a municipality that has experienced over 40 percent population growth since 2010. Site clearing is now complete and pipe installation is underway, with vertical construction expected to begin imminently. The anticipated construction timeline is approximately 18 months.
Elysian is designed by Krieger Klatt Architects and will feature modern, resort-style amenities including a wine bar, state-of-the-art fitness center with yoga, Pilates, and cycling studios, a movie theater, a steam room and sauna, a clubhouse with a fireplace, and a resort-style pool with cabanas.
Unicorp, led by founder and CEO Chuck Whittall, has developed a wide range of residential, retail, office, and hospitality projects across the Southeast. The firm is known for several major projects in the Orlando area and is currently preparing to break ground on additional developments throughout the region.
“This is our first large project in three years, and we’re grateful to Centennial for continuing to stand by us,” said Whittall. “With construction pricing off its peak, we’re entering the right cycle. Elysian will be a flagship example of what’s possible when strategic timing meets trusted partnership.”
The $73 million financing was led by Robby Barrows, Senior Vice President of Commercial Banking at Centennial Bank, in coordination with David Druey, the bank’s Florida Regional President. The transaction continues a long-standing relationship between the two firms, which have now closed more than $500 million in deals together.
Elysian is being positioned to meet continued demand for upscale rental housing in Central Florida. With limited new supply under construction in the area, the project is expected to help address the region’s growing housing needs while contributing to the expansion of lifestyle-focused residential options in Winter Garden.
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This is a luxury apartment building? Really? Nice tiny suspended balconies.