Royal Palm Companies, in collaboration with the Mattoni Group under RPM SANFORD LLC, have secured an $86 million construction financing loan for Tuscany Village, a multifamily complex soon to be developed at 4201 West 1st Street in Sanford, Florida. This project represents a significant advancement in expanding high-quality residential options within the Orlando–Kissimmee–Sanford Metro area. Located on the south frontage of State Road 46, between Upsala Road and Sewell Road, Tuscany Village is strategically positioned to become a key community in Sanford. The development will feature 420 residential units distributed across seven four-story buildings. A date for the commencement of construction is expected to be announced in the coming weeks, with a phased completion targeted for 2026.
The development site for Tuscany Village at 4201 West First Street was acquired in June for $12.7 million, setting the stage for this ambitious project. Financing for the development is secured through a partnership with City National Bank and Abanca USA, which have provided $68 million in loans, along with Origin Investments contributing $18 million in preferred equity. These financial arrangements, which include floating interest rates without a rate cap, underscore the strong confidence in the project amid the current economic climate.
Tuscany Village. Credit: Royal Palm Companies, Mattoni Group.
Founded in 1978, Royal Palm Companies is renowned for its innovative approach to real estate development, boasting a portfolio that includes $4.7 billion in developed, repositioned, and under-construction projects. With over 9,500 residential units completed, Royal Palm’s experience in the industry is unparalleled.
Tuscany Village. Credit: Royal Palm Companies, Mattoni Group.
The collaboration with Mattoni Group, a strategic partner for this venture, underscores the significance of Tuscany Village. Known for its comprehensive real estate capabilities and market insights, Mattoni Group brings substantial value to the project, ensuring the delivery of a top-tier residential community.
Tuscany Village. Credit: Royal Palm Companies, Mattoni Group.
The decision to proceed with Tuscany Village, despite the challenges currently facing developers—including elevated interest rates, increased insurance premiums, and regional issues such as high concrete costs in South Florida—demonstrates Royal Palm and Mattoni Group’s commitment to innovation, quality, and addressing the needs of Florida’s residents.
Tuscany Village Site Plan. Credit: Royal Palm Companies, Mattoni Group.
Tuscany Village is more than a development project; it is intended as a future home for hundreds of families and individuals, designed to foster a vibrant and connected community. Royal Palm Companies and Mattoni Group are dedicated to realizing this vision, aiming to make a positive impact on the Sanford region and the broader Florida housing market.
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