Allen Morris Company secures $66m for Orlando student housing

Allen Morris Company secures $66m for Orlando student housing

Published at: 2018-12-05 16:59 | Author: CIJ USA
The Allen Morris Company secured $66m in financing from SunTrust Bank and Santander Bank for the development of the Creative Village Parcel M Apartments in downtown Orlando. The $108m project is being developed in partnership with Ustler Development. Plans calls for a 14-story, 409-unit student housing tower to go up on the former Amway Arena site. The apartment building will be part of the 68-acre Creative Village mixed-use and transit-oriented community that will house the new University of Central Florida Downtown and Valencia Downtown Campus. The new campus is slated to open in August 2019 with more than 8,000 students, faculty and staff.

“We’re delighted to secure financing for this inspiring project that will truly become the future of Downtown Orlando,” said W. Allen Morris, chairman and CEO of The Allen Morris Company. “We seek to develop projects that add value to the community and its residents, and with Orlando’s dynamic economic boom and the new UCF/Valencia Downtown Campus, the timing was perfect for an innovative approach to market-rate housing with great amenities that meets the needs of the current and future students, faculty and other residents of downtown Orlando.”

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