Posts Tagged with Development News

InVictus has partnered with The Panama City Housing Authority and Royal American Development on the development of three housing complexes destroyed by Hurricane Michael. Fletcher Black, Fletcher Black II, and The Park at Massalina will be new construction developments bringing back 284-units of affordable housing. All phases are completed and fully occupied.

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 continues to provide mixed income housing for the Orlando area. The development has 96 affordable and 24 market rate units.

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 recently won the silver award from the National Association of Home Builder’s “Best in American Living” national affordable housing award for 2024 recently announced at the International Builder’s Show in Las Vegas.

Parramore Oaks Phase Two, 91-units, has been completed and is fully leased.

The development is in a similar style to Phase I as to the unit and building design. There are 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.

The architect is Forum Architects, civil engineer is Hamilton Engineering, and General Contractor is First Florida Constructors. The equity provider will be Truist, construction lender Truist, and the permanent loan will be with Churchill Stateside. Financing includes 4% tax credit equity, CDBG-DR Funds, City of Orlando Funds, with bonds from Florida Housing.

Asset Living, the current Property Manager on Phase I, will be the manager for Phase Two.

The Flats at Sam Lane, a 72-unit fully affordable housing development that was completed in 2023. This site is in Ringgold Georgia and was developed in partnership with Zimmerman Properties.

The Lodges on Lincoln, a 56-Unit HOME and tax credit financed development in Selma, Alabama.  The equity provider for the development is Freddie Mac syndicated by RBC Tax Credit Equity.  The units are managed by Olympia Management in 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 Becky Lang (256) 894-2382 with Olympia Management, Inc.  becky.lang@olympiamanagement.net.

The Appaloosa Run Apartments  are on the eastern side of Andalusia, Alabama.  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 Becky Lang (256) 894-2382 with Olympia Management, Inc.  becky.lang@olympiamanagement.net.

InVictus Development is a State of Florida and City of Tampa certified Women-Owned Business Enterprise.

Click this link for a copy of the certificate.  OSD_MBE_Certificate