Dallas-based Mill Creek Residential plans to purchase 1.7 acres in downtown Orlando’s Creative Village development with plans for 200-300 apartments, according to Ustler Development Inc.
Mill Creek’s project would bring market-rate apartments to an area of west downtown Orlando where most new residential undertakings have been for affordable housing or student housing that is being constructed for the new campus of the University of Central Florida and Valencia College. The higher-ed center will serve about 8,000 students and be completed for fall 2019.
Eran Landry, vice president for Mill Creek, said the 68-acre Creative Village was attractive as a hub for academics, jobs, housing and retail growth within a new community geared for transit. The project is a few blocks from the downtown station for SunRail commuter rail and Lynx buses.
Mill Creek is building Modera Central, a mixed-use apartment building at Lake Eola in Downtown Orlando that is scheduled to open this summer. With 71 communities and about 20,000 apartment units nationally, Mill Creek has several apartment high rises in South Florida built near transit stations.
Craig Ustler, president of Ustler Development Inc., said his team selected Mill Creek as the third-party purchaser of the property, which is on Amelia Street just northwest of Bob Carr Theater. It will be directly north of the new university campus.
“They are an industry leader that shares our vision for Creative Village, and we believe they will deliver a great urban apartment community as part of the overall vertical development program at Creative Village.”