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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Bella Citta at Davenport (the “Property” or “Site”), a ±39.27-acre residential development site located adjacent to ChampionsGate®, a 1,500-acre highly desirable master-planned community within the Orlando-Davenport MSA. With CT zoning in place, the site allows for maximum density of 40 units per acre. A conceptual site plan for a 640-unit garden-style multifamily design is available, which allows for the construction of an efficient, low-density project, within a submarket that has exceptional multifamily fundamentals. YardiMatrix is projecting residential rents in Davenport to grow by 33% over the next 5 years, which is driven by strong demand from new residents and existing residents priced out of the single-family housing market.
Davenport is experiencing transformational economic growth, driven by a quickly expanding population that is relocating to the submarket provided its strategic location near high quality employers in the healthcare, logistics and tourism industries, including Orlando Health, Advent Health, Amazon, FedEx, UPS Walmart, and Walt Disney World. Further adding to the location’s appeal is a top-rated school district, a plethora of retail amenities, and a 36-hole championship golf course. Additionally, the Property benefits from immediate access to US-27 and I-4, allowing for superior freeway connectivity throughout Orlando, Lakeland, and Tampa.
With the combination of high-quality employers, population growth, and strong multifamily fundamentals, Bella Citta at Davenport is positioned as a one-of-a-kind development opportunity in the fastest growing state in the country.
- In-Place Zoning: Highly sought-after residential development site, with zoning in-place, in booming Central Florida!
- Unmatched Location: Located adjacent to ChampionsGate®, a 1,500-acre highly desirable master-planned development, that boasts prominent restaurants, 36 holes of championship golf, world class retail and recreational amenities including Walt Disney World, all within a short drive.
- Explosive Population Growth: Located in one of Orlando’s fastest growing submarkets, projections from the Environmental Systems Research Institute estimate that the population growth within a 5-mile radius of the site will be 19.4% over the next 5 years.
- Access and Connectivity: Immediate access to US-27 and I-4, allowing for superior connectivity to Orlando, Lakeland, and Tampa.
- Strong Multifamily Fundamentals: Outstanding apartment fundamentals with Davenport submarket rents projected to grow by 33% over the next 5 years (6.6% per year), driven by a wave of in-migration and corporate expansions (YardiMatrix).
- Booming Employment: Surging high quality employment opportunities within the medical, logistics and tourism industries with brand names including Orlando Health, Advent Health, Amazon, FedEx, UPS Walmart, and Walt Disney World.