Posts Tagged with Development News

InVictus has partnered with The Panama City Housing Authority and Royal American Development on the development of two housing complexes destroyed by Hurricane Michael. Fletcher Black and The Park at Palo Alto will both be new construction developments bringing back 220-units of affordable housing. Both will begin construction in the 2nd quarter of 2021. A second phase of Fletcher Black, 64-units, will begin once funding is secured.

InVictus Development, in partnership with ADC Communities II and The Bedford Group, both multifamily development companies out of Los Angeles, has submitted an proposal for redevelopment of an almost 18-acre utility operations site near the Hillsborough River known as Rome Yard.

The Development design team was a partnership of a number of local companies including the Tampa office of Stantec, the lead land planner and civil engineer. The participating architects are the Bessolo Design Group from St. Petersburg along with Sylla International from Tampa.

Part of the focus on selecting team members was the opportunity to include local woman and minority companies who were the best in their area of expertise to contribute to the design effort. Out of the 19 development team members, 12 were woman or minority owned companies. The City of Tampa had some specific goals within the RFP, which the team addressed within the response.

InVictus Development, LLC, a woman-owned and City of Tampa SLBE business, will be the lead developer, if selected. Paula McDonald Rhodes has been in multifamily development since 2005 along with her partner, Rick Cavalieri, who has been a multifamily developer since 2004.

Of the 19 InVictus Team members who have already committed to this project – many of whom actively participated in creating the vision and crafting this proposal – 11 are Tampa companies, 2 are St. Petersburg companies, and 2 are Orlando area companies. 2 of the remaining companies have local Tampa offices.

Parramore Oaks was recently presented with the “Golden Brick Award for Residential Development” honored for projects representing the values of the Downtown Orlando Partnership.

The Following is an Excerpt from The Downtown Orlando Website concerning the Golden Brick Awards.

Every year the Golden Brick Awards allow us to reflect upon the past year’s successes and project those impacts into the future. Each submission, finalist, and winner remind us that strong partnerships build the best Downtown Orlando. Unique projects spin a web of connective influence on our community’s potential. From new office development to celebrations of diversity, to long-fought achievements for sustainability, each and every GBA nominee creates change, paying dividends for decades to come. Congratulations to all the winners and for their dedication to keeping downtown Orlando an amazing place to live, work, and play.

Parramore Oaks Phase I was a Silver Award Winner for “Best Multifamily Housing Community up to 4 Stories for Rent” in the most recent 41st Annual Aurora Awards presented by the Southeast Building Conference.

WHAT ARE THE AURORA AWARDS?

Established in 1979, Aurora Awards are presented annually to outstanding builders, planners, architects, developers, designers, interior merchandisers and other housing-related professionals. Residential and Commercial construction professionals actively involved in projects located in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia and the Eastern Caribbean are eligible to participate.

Parramore Oaks Phase Two, 91-units, is currently under credit underwriting with the hope of starting construction late 2020 or first quarter of 2021. Construction should be completed in the first quarter of 2022.

The development will be in similar style to Phase I as to the unit and building design. There will be eleven 1-Bedrooms, fifty-eight -2-Bedrooms, and twenty-two 3-Bedrooms. There is a range of income levels including 30, 40, 60, and 80% of AMI.

Parramore Oaks Phase I in Orlando, Florida is a 120-unit two, three, and four-story affordable and market rate development close to downtown Orlando. The leasing office can be contacted at (850)-914-3238 from 8:30 – 5:30 Monday through Friday. For more information, please click on the following link: www.ParramoreOaks.com.

Invictus Development has secured funding for a 9% affordable housing sites in Georgia. In partnership with the Zimmerman Group, the site is in Ringgold, Georgia close to Chattanooga. The development is supposed to close on financing and start construction in January 2021. Units will be available early in 2022.

The Lodges on Lincoln, a 56-Unit HOME and tax credit financed development in Selma, Alabama is 100% leased.  The equity provider for the development is Freddie Mac syndicated by RBC Tax Credit Equity.  The units are managed by Olympia Management n Albertville, Alabama.

The development consists of 32 two-bedroom and 24 three-bedroom units in four buildings with an additional clubhouse building that includes a laundry, fitness area, community room, and leasing office.   The development is off of Lincoln Drive in Selma with the clubhouse address being 55 Tower Drive, Selma, Alabama.

Questions regarding leasing should be directed to Debbie Smith (256) 894-2382 with Olympia Management, Inc.  debbie.smith@olympiamanagement.net.

The Appaloosa Run Apartments in Andalusia, Alabama has been completed and is currently 90% leased. The development consists of 34 2-Bedroom, 2-Bath and 22 – 3-Bedroom, 2-Bath apartments on Shreve Road.

The units are income restricted to between 60-30% of Area Median Income.

The site features a community building with a laundry, fitness center, and community area.   The site will also have a children’s playground, outdoor fitness area, and a outdoor picnic pavilion.

The units feature granite counter tops with wood cabinets, stainless appliances, and 9′ ceilings.   Each unit has washer and dryer hookups.   The refrigerator and dishwasher are Energy Star™ rated.   Ceiling fans are in every bedroom.

Questions regarding leasing should be directed to Debbie Smith (256) 894-2382 with Olympia Management, Inc.  debbie.smith@olympiamanagement.net.

InVictus Development is a certified State of Florida as a Women-Owned Business Enterprise.

Click this link for a copy of the certificate.  OSD_MBE_Certificate