Unicorp National Developments, Inc. has initiated construction on Elysian, a new luxury apartment community comprising 323 units in Winter Garden, Florida. The project is supported by a substantial $73 million construction loan from Centennial Bank, marking Unicorp’s return to large-scale multifamily development aimed at meeting the increasing rental demand in Central Florida’s rapidly growing submarket.
The site for Elysian is strategically located at the northeast corner of Avalon Road and Seidel Avenue. Winter Garden has seen a remarkable 40 percent population growth since 2010, highlighting the need for additional housing options. With site clearing now complete and pipe installation in progress, vertical construction is set to commence shortly. The estimated timeline for construction is approximately 18 months.
Modern Amenities and Design
Designed by Krieger Klatt Architects, Elysian will feature an array of modern, resort-style amenities. These include a wine bar, a state-of-the-art fitness center equipped with yoga, Pilates, and cycling studios, a movie theater, a steam room and sauna, as well as a clubhouse with a fireplace and a resort-style pool featuring cabanas.
Chuck Whittall, founder and CEO of Unicorp, expressed enthusiasm for the project, noting, “This is our first large project in three years, and we’re grateful to Centennial for continuing to stand by us. 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.”
Strong Financial Backing
The financing for Elysian was orchestrated by Robby Barrows, Senior Vice President of Commercial Banking at Centennial Bank, alongside David Druey, the bank’s Florida Regional President. This transaction reflects a longstanding partnership between Unicorp and Centennial, with both firms having collaborated on over $500 million in deals to date.
Elysian is poised to address the demand for upscale rental housing in Central Florida. As construction of new residential projects lags in the area, this development is expected to significantly alleviate the housing pressures while enhancing lifestyle-focused residential options in Winter Garden.
Unicorp’s leadership and strategic planning underscore their commitment to meeting the evolving housing needs of the region, ensuring that Elysian not only serves as a residential community but also as a testament to collaborative growth in Central Florida.
