Oxford Place
CASSELBERRY, FL—New York-based real estate development and management company RD Management plans to build three luxury apartment communities here that total 780 units. The mixed-use district, Oxford Place, will also include 72,000 square feet of retail.
Eric Moran, RD's EVP of residential development, tells GlobeSt.com that phase 1 of the three-phase project will begin construction either late summer or early fall of this year. So far, the coronavirus crisis has not had a major effect on the project, which has been in the planning stages for several years.
"We are weathering the storm right now and moving forward," Moran says.
Phase 1 of Oxford Place will consist of a four-story, interior corridor building with elevator service and surface parking. It will include 246 apartment units. Other amenities include an interior pool and courtyard with a 20,000 square foot deck. RD Management anticipates a budget of more than $50 million for the first phase with construction taking two years. Construction will begin following demotion of the Orland Live Events Jai Lai fronton, which is on the site.
"We submitted our civil plans for all three phases at this point," Moran says. "We've planned for this for many years and we are still excited about the project and will execute it accordingly."
Moran describes Oxford Place as part of a larger revitalization of the entire area, which includes new roadways, widenings of existing roads and the creation of three large ponds.
"Orlando is one of the strongest markets in the country," Moran says. " It's unique that it has one of the largest bases of employment in Disney. Obviously, the coronavirus has had an adverse impact on Disney and its businesses. It's too early to know the effect on the multifamily market."
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