New apartments in the works as part of Gardens on Millenia

Posted on by desert345

Jan 7, 2016, 10:21am

EST Updated: Jan 7, 2016, 11:30am EST A South Florida real estate firm inked a second development deal as part of the new 47-acre Gardens on Millenia mixed-use project in southwest Orlando. BBX Capital Real Estate, a division of Fort Lauderdale-based BBX Capital Corp. (NYSE: BBX), on Jan. 7 announced it signed a

A South Florida real estate firm inked a second development deal as part of the new 47-acre Gardens on Millenia mixed-use project in southwest Orlando. BBX Capital Real Estate, a division of Fort Lauderdale-based BBX Capital Corp. (NYSE: BBX), on Jan. 7 announced it signed a joint venture agreement with Altamonte Springsbased ContraVest Builders to develop a 292- unit apartment complex on an 11.5-acre site northeast of The Mall at Millenia. New York based Case Pomeroy & Co. Inc. also is an investor in the joint venture, said a news release. Construction is expected to start later this month on the estimated $48 million Addison on Millenia, planned as a mix of one-, two- and three-bedroom apartments featuring gourmet kitchens, energy star appliances, granite counters, spa-inspired bath tubs, granite counters and spacious linen closets. Amenities will include an 8,000-square-foot clubhouse, resort-style pool, outdoor gourmet kitchen with gas grills, a full circuit fitness center, outdoor social area with a fire pit, a billiard table and gaming stations, and various pet 1/8/2016 BBX Capital, ContraVest to build new apartments near Mall at Millenia ­ Orlando Business Journal http://www.bizjournals.com/orlando/blog/2016/01/new­apartments­in­the­works­as­part­of­gardens­on.html?s=print 2/3 friendly features. “We are excited to partner with BBX Capital Real Estate on this new community,” said ContraVest President Steve Ogier in a prepared statement. “Addison on Millenia is a desirable location with nearby employment opportunities and within walking distance to The Mall at Millenia. The community is surrounded by a variety of attractive retail, lifestyle and entertainment options and is easily accessible to key transportation corridors.” ContraVest was named one of the 100 fastest-growing companies in Florida, was part of Orlando Business Journal’s Fast 50 and is one of Central Florida’s largest privately held companies. Meanwhile, ContraVest is BBX Capital’s second joint venture as part of The Gardens on Millenia. BBX Capital in October announced it entered into a joint venture agreement with Stiles Corp. to develop a 141,100-square-foot retail center, which will include Hobby Lobby and Academy Sports as anchors along with 23,200 square feet of inline retail