Unicorp National Developments, Inc. has officially begun construction on Elysian, a new luxury apartment community in Winter Garden, Florida. The project will feature 323 units and is backed by a substantial $73 million construction loan from Centennial Bank. This marks Unicorp’s significant return to large-scale multifamily development, aimed at meeting the rising rental demand in one of Central Florida’s rapidly growing areas.
Located at the northeast corner of Avalon Road and Seidel Avenue, Elysian is strategically situated in Winter Garden, which has seen a remarkable population growth of over 40 percent since 2010. Site clearing for the project is complete, and pipe installation is currently underway, with vertical construction anticipated to commence shortly. The entire construction process is expected to take approximately 18 months.
Project Details and Amenities
Designed by Krieger Klatt Architects, Elysian will feature a range of modern, resort-style amenities that cater to upscale living. Among these amenities are a wine bar, a state-of-the-art fitness center that includes yoga, Pilates, and cycling studios, a movie theater, a steam room and sauna, and a clubhouse complete with a fireplace. In addition, residents can enjoy a resort-style pool equipped with cabanas, enhancing the community’s luxurious appeal.
Unicorp, under the leadership of founder and CEO Chuck Whittall, has an extensive portfolio that includes various residential, retail, office, and hospitality projects throughout the Southeastern United States. The firm is recognized for its significant developments in the Orlando area and is preparing to initiate additional projects across the region.
“This is our first large project in three years, and we’re grateful to Centennial for continuing to stand by us,” Whittall stated. “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.”
Financing and Future Prospects
The $73 million financing for Elysian was facilitated by Robby Barrows, Senior Vice President of Commercial Banking at Centennial Bank, in collaboration with David Druey, the bank’s Florida Regional President. This transaction further solidifies a longstanding partnership between Unicorp and Centennial, with the two firms having completed over $500 million in business together.
Elysian is positioned to respond to the ongoing demand for upscale rental housing in Central Florida. Given the limited new supply currently under construction in the region, this project is expected to significantly contribute to addressing the growing housing needs while enhancing the availability of lifestyle-focused residential options in Winter Garden.