August 11, 2019

FaverGray Starts $800 Million of New Construction Projects

The first project is a 3.83 million square foot student housing community near Orlando, Florida, for American Campus Communities (ACC), the largest owner, manager and developer of student housing in the U.S., with total cost of $630 million. The facility includes two community centers totaling excess of 53,000 square feet. Each community center will serve as a hub for resident recreation and feature amenities including resort-style swimming pools, event and recreational laws, fitness centers and social lounges. FaverGray is scheduled to complete the entire project in May 2023.

The second project, West Vue, is a 553,532 square foot, $58 million, 442-unit multifamily community in Orlando, Florida, for RISE: A Real Estate Company, a leader in the development, brokerage and management of multifamily and student housing properties. The facility consists of five, 4-story buildings, a 12,000 square foot amenity center with 2 pools and is scheduled to be complete in May of 2021.

The third project, Union on Fletcher, is a 313,292, square foot, $48 million, 660-bed student housing facility in Tampa, Florida, for Greystar, the 2nd largest institutional owner and manager of student housing in the U.S. The project consists of two 5-story buildings over 1-story podiums, high-end courtyards with pools, an 8,000 square foot amenity center, a 519-car parking deck and is scheduled to be complete by the summer of 2020.

The fourth project, Forest View Village, is a 377,000 square foot, $37, million, 283-unit multifamily community in Walton County, Florida, for Cypressbrook Co., a leader in the development, brokerage and management of multifamily real estate properties. The facility consists on nine, 3 & 4-story buildings and is scheduled to be complete in August of 2020.

The fifth project, Parkside at Estero, is a 246,624 square foot, $27 million, 198-unit multifamily community in Estero, Florida, for ECI, a leader in the development and management of commercial and multifamily properties in the SE U.S. The facility consists of four, 3-story buildings and features detached garages, a 5,000 square foot clubhouse and is scheduled to be complete in May of 2020.

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