Class Multi-family Project in Lake Wales, FL
November 8, 2019
Class A Multifamily Project in Lake Wales, Fl
Serenity at Lake Wales, a Class A multifamily project that will comprise of 335 residential units has broken ground and anticipates first completions in summer, 2020. The newly developed improvements will consist of two (2) - 32-unit buildings, ten (10)- 24-unit buildings, and one (1) - 31 unit building. The residential buildings will all be 3-story walk up products. Orlando based real estate developer, Nvision Development, and owner/operator NM Residential have partnered again to bring these luxury apartment homes to the community. They are the same partners that are building a luxury complex in Venice, Fl (Venice Isles Apartments). Serenity at Lake Wales will be one of the first multifamily developments in the City since 2005, offering this growing area a new modern option for housing. “We like to be the first out of the ground in a new market. We are excited to be in Lake Wales with our new product before anyone else,” said Michael Niederst, CEO of NM Residential.
The community will feature a mix of well-designed one, two and, three-bedroom units with an average size of 981 square feet. Typical units will feature stainless steel appliances, open floor plans, walk-in closets, granite countertops and faux wood floors. In addition to those features, balconies and solariums will be available on select units.
Residents will have access to a market leading amenity package including a 6,500 SF luxurious modern clubhouse featuring a clubroom, on-site leasing office, a business center, fitness center, package concierge, screened porch, a resort style pool area, outdoor kitchen and grill, and a gazebo overlooking the lake. Walkways throughout the project with a lookout point over the NE pond will also be included. Residents will have access to an on-site car wash center and playground. The amenities and design of this project were very carefully considered after evaluating the market. Ian McCook, President, Nvision Development stated “we looked around and toured all the properties, it became very clear to us that this is something that is very much needed in this community.”
The project will benefit from the existing demand through organic growth, its proximity to the area’s largest employers which include State Farm Insurance, Legoland Florida, and the 932 Acre, 8M SF industrial development of Florida’s Gateway, the CSX intermodal facility, which opened in 2014.
The groundbreaking ceremony was on October 9, 2019 and was attended by city officials, Nvision Development, NM Residential and Winter Park Construction. The excitement to see this project come to fruition was shared by everyone involved. “It takes a while to get everything ‘gelled’ to start seeing something up from the ground up… We’re just ecstatic to have you guys here” said Mayor Eugene Fultz. Terrye Howell echoed the Mayor’s excitement by saying “this is wonderful… just to see this activity going. Very happy. Very excited.”
From left to right: Renese Johnson – Development Manager, Nvision Development; Terrye Howell - City of Lake Wales Commissioner; Michael Niederst, CEO of NM Residential; Ian McCook – President, Nvision Development; Autumn Coachella - Development Services Manager, City of Lake Wales, Department of Planning and Development; Al Goldstein – City of Lake Wales Commissioner; Matthew McWilliams – Director of Development , Nvision Development; Eugene Fultz – Mayor, City of Lake Wales; Thomas Bohr – President, NM Residential, Michael Trip – Building Inspector, City of Lakes of Wales; Department of Planning and Development.
About Nvision Development:
Nvision is an Orlando based, full service Real Estate Development Company looking to ensure that our clients, projects and partners are set up to succeed. Nvision was founded in 2006 and has been involved in almost one billion dollars in projects since inception. Currently, Nvision is developing multifamily apartments, student housing, independent living, assisted living, hotels and mixed used developments throughout Florida and Tennessee.
About NM Residential:
Founded in Cleveland, Ohio, NM Residential is an owner/operator of multifamily residential projects in Ohio, Michigan and Florida. Throughout the years, NM Residential has adapted seamlessly to ever-changing market conditions through continued use of cutting-edge technology and management techniques. NM Residential has stabilized and operated a portfolio of over 10,000 units, with a current (and growing) inventory of over 1,200 units in Florida.
Founded in 1974, Winter Park Construction has been a leading contractor in multifamily construction over a 45-year timeline. With humble beginnings that included mostly residential renovation projects, it was only a matter of time before Winter Park Construction's credo – do the right thing, every time – attracted more complex construction assignments. Today, WPC's team is led by multifaceted construction experts with a combined 150+ years of experience that have over 175 million SF of completed projects.