Click hereNTT Urban Development Corporation (Head office: Chiyoda-ku, Tokyo; President and CEO: Hiroshi Tsujigami) is pleased to announce that it has participated in a new rental housing development project in Kissimmee, near Orlando, Florida, through its US subsidiary (NTT UD USA Inc.).
This project marks our first residential development in Florida and our second Sunbelt city after Dallas. Construction is scheduled to begin in March 2023 and be completed in fiscal 2025.
Florida, where the property is located, continues to experience economic growth centered on the tourism and aerospace industries, and currently has the third largest population in the United States. With a lower cost of living compared to other metropolitan areas, the state is expected to continue to grow. The planned development site is located in Kissimmee, south of the Orlando metropolitan area in Florida, in a block known as the "Central Medical District*1" under the city's urban development plan. As there are few rental housing units in this block, providing quality housing to people working in the area has become an issue for the city.
In addition, the planned development site is adjacent to a single-family residential area, making it an excellent living environment, and is also highly conveniently located approximately a 10-minute walk from Kissimmee Station, which is lined with restaurants and a civic center.
- *1Central Medical District: Area with a concentration of medical institutions
Taking into account post-COVID-19 needs, the property will feature a co-working space and outdoor terrace in the common areas, as well as plans for a Florida-style pool, dog park, and pickleball court, which has become increasingly popular in the United States in recent years, providing a comfortable living environment for a wide range of residents, from singles to families.
(Image of common areas)
On May 4th, a Ground Breaking Event*2 was held by the government and business operators at the planned development site, attended by over 100 people, including government officials such as the Kissimmee Mayor and Vice Mayor, and project stakeholders including our company. We will work together as a public-private partnership to promote this project so that this rental housing development will help solve the issues facing Kissimmee City.
- *2Ground Breaking Event: Groundbreaking ceremony
■Property overview
| Property name | 310 Beaumont Avenue |
|---|---|
| Property location | 700 Aultman St, Kissimmee, FL 34741 |
| structure | wooden |
| hierarchy | 地上4階 |
| Units | 312 units |
| Rental floor space | 288,400sqf (approximately 27,000㎡) |
| Average area of dwelling units | 924 sf (approx. 86 m2) |
| Use | Rental housing |
| Builder | Noble Construction Group |
| designer | Charlan Brock Architects |
| Completion | 2025 plan |
■Area map
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