Courtesy of Fore Property
KISSIMMEE, FL—Fore Property has begun leasing for Monterosso Apartments, a 216-unit apartment community here. Fore developed and built Monterosso, the company's fourth apartment community in the Orlando MSA. Fore will also manage it.
Jim Sullivan, Fore's managing partner, tells GlobeSt.com that the company has plans under way for two other properties in the Orlando market, 19 South, a 384-unit LEED certified, transit-oriented development located at Osceola Parkway and Orange Avenue; and The Westerly, a 352-unit LEED certified development at 13350 Flamingo Crossings Boulevard.
Sullivan says there isn't one single demand driver for Class A multifamily communities in the region. "For one, we've seen population growth in the area, which is likely associated with a strengthening regional job market," he says. This is helping to fuel increased demand for quality rental properties, both from Gen Z and retirees seeking a hassle-free apartment living experience.
Monterosso Apartments has a mix of spacious studio, one-, two-, and three-bedroom apartment homes across a seven-acre site. The four-story, wood-framed development was designed by Charlan Brock and Associates, a locally based architecture firm. Fore says this underscores its emphasis on developing regionally tailored multifamily communities.
Monterosso includes amenities and in-home conveniences, including smart home technology, gourmet kitchens, a 24-hour fitness center with dedicated studio space, a resort style pool and outdoor courtyard with barbeque stations, a pet spa, and Amazon lockers for seamless package retrieval.
Monterosso is on target for LEED certification, continuing Fore's emphasis on sustainability.
"Fore Property is committed to sustainability and protecting our environment," Sullivan says. "We think that green business is good business. To us, green business means a solid and meaningful commitment to the green building movement and to conducting our operations responsibly. For over a decade, Fore Property has completed LEED designed projects and was the first multifamily developer to achieve LEED Silver certification in Texas and LEED Gold certification in Maryland.
Sullivan says Fore Property has been actively looking for land throughout the Florida markets, but has been primarily focused on the Tampa and Orlando markets.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
