American Landmark Apartments, a multifamily owner-operator based in Tampa, Fla., is adding its first ground-up, new-construction community to its portfolio of approximately 33,000 garden-style units in the Southeast.
A joint venture between American Landmark and Dezer Development, a developer of high-end residences such as the Porsche Design Tower and Residences by Armani/Casa, has broken ground on a $78 million, luxury Class A apartment community in Orlando, Fla.
Adjacent to Dezerland Park Orlando, formerly the Artegon Marketplace, Deseo Grande will provide 365 spacious one-, two-, and three-bedroom units featuring elegant finishes, state-of-the-art technology, and resort-style amenities. Scheduled for completion in April 2022, rents are expected to be between $1,500 and $2,400 a month.
“We had an unprecedented opportunity to partner with Dezer Development to build our first ground-up apartment community on a cone-of-a-kind site in the heart of Orlando, and to be a part of Dezer’s visionary repositioning of the former Artegon Marketplace into a dynamic 24-hour, mixed-use community,” said Joe Lubeck, CEO of American Landmark. “Deseo Grande will be the crown jewel of our portfolio and will marry the best design, technology, and amenities that have been successfully implemented at our other high-performing multifamily properties.”
Deseo Grande will be comprised of a five-story, elevator building and a four-story parking garage on a 6.5-acre site. Units will range in size from 754 to 1,250 square feet, with all featuring 9-foot ceilings, walk-in closets, patios or balconies, and in-unit washers and dryers. The pet-friendly community will feature a central courtyard with a resort-style swimming pool, a grill, a 24-hour fitness center, a pet spa, and a dog park.
The design team includes Orlando firms BCC Construction Group, Baker Barrios Architects, and VHB Engineering.