Tarragon Leases 296-Unit Project in Five Months

ORLANDO-Five months after it opened, the 296-unit Vintage Cottage Apartment Homes at 9101 Lee Vista Blvd. in the heavily-trafficked Orlando International Airport axis is 100% leased–without offering a single rent concession to tenants.

That’s an accomplishment among the metro areas 150,000 apartment units where the June occupancy level was 94%, according to Apartment Realty Advisors of Boca Raton. Rent reductions and other concessions still play an integral role in leasing up rental ventures, Kevin Judd, a principal at ARA, tells GlobeSt.com.

But Tarragon president William S. Friedman credits a design and marketing strategy for the success of the $20.3 million Vintage Cottage venture, about 15 miles east of Downtown and five miles from the airport.