JBL Development<\/a>, owner and developer of the Gateway Orlando commercial center on Semoran Boulevard, broke ground last week on a massive new apartment community after landing $62.5 million in HUD financing from Highland Commercial Mortgage<\/a>.<\/p>\n \u201cIt\u2019s phase one of a master-planned community that will eventually bring close to a thousand apartments to Central Orlando, and we\u2019re very excited about it,\u201d Managing Partner Michael Rem told GrowthSpotter.<\/p>\n The community will have a large, heated, saltwater pool surrounded by private cabanas, with amenity centers on both ends. (Rendering by Baker Barrios)<\/p>\n The first clubhouse will be 13,000 square feet, with a leasing office, fitness center, coworking space, and residents’ lounge. (Rendering by Baker Barrios)<\/p>\n Baker Barrios also served as landscape architect for the master-planned community. (Rendering by Baker Barrios)<\/p>\n Show Caption<\/p>\n 1 of 3<\/p>\n The community will have a large, heated, saltwater pool surrounded by private cabanas, with amenity centers on both ends. (Rendering by Baker Barrios)<\/p>\n Expand<\/a><\/p>\n JBL previously partnered with ContraVest<\/a> to build the Addison Gateway apartments, which opened in 2022. This time, the company is taking the development lead on the new project across the street on Shadowridge Drive. Capstone Building Corp.<\/a> is the general contractor and broke ground last week on the first phase of the 958-home community.<\/p>\n \u201cThere are four total residential buildings with two freestanding clubhouse buildings in the master plan,\u201d Rem said. \u201cSo this first phase is the first residential building, 270 apartments. It\u2019s a five-story project. And it\u2019s wrapped around a structured parking garage as well.\u201d<\/p>\n Rem said JBL will utilize cold-formed metal framing rather than wood. \u201cConstruction quality is really important for us, which is why we went with that upgrade.\u201d<\/p>\n Phase 1 of The Gateway will also have the first of two planned amenity centers for the community, with a 13,000-square-foot clubhouse, a heated, salt-water pool with cabanas, a fitness center, co-working space, pickleball courts, a dog park, pet spa and nature trails. Baker Barrios<\/a> served as project planner, architect and landscape architect for the project.<\/p>\n \u201cSo we built it as a retreat. It\u2019s landscaped. It\u2019s amenity-rich, and we priced the experience to be within reach,\u201d Rem said. \u201cIt is a market-rate community, but the whole idea behind it is delivering genuine luxury at a more attainable price.\u201d<\/p>\n The other two multifamily projects are located in the City of Kissimmee.\u00a0Hedrick Brothers Development<\/a> secured $56.5 million in construction financing from Principal Life Insurance<\/a> for The Hedrick at Lake Toho, a new 366-unit Class A multifamily community planned along Toho Grande Boulevard just south of downtown Kissimmee.<\/p>\n With financing in place, the project received a notice to commence on June 22 and is now moving into site development and vertical construction. Hedrick Brothers is vertically integrated and acts as its own GC.<\/p>\n Cormia Design Group<\/a> designed the community, which features one-, two- and three-bedroom apartments along with amenities including a resort-style pool, coworking spaces, pickleball courts, a yoga lawn, dog park, EV charging, private garages and access to Lake Tohopekaliga and the surrounding trail systems. Initial leasing is anticipated by the end of 2027, with completion expected by the end of 2028.<\/p>\n The site plan from Kimley Horn<\/a> reserves about 9 acres fronting John Young Parkway for future development. Hedrick Brothers broke ground a year ago<\/a> on the 363-unit Hedrick at Baldwin East in Orlando, which is set to have its topping-out ceremony in 2 weeks. The company is also co-developer of Edon Park<\/a>, a 22-acre mixed-use destination on the site of the former K-mart store in Kissimmee.<\/p>\n Also in Kissimmee, NRP Group<\/a> secured financing for Alora Lofts (fka Amberwood Lofts), its first affordable housing community in the Orlando Market. The 88-unit community will rise at 1300 Windsor Dr. and will be restricted to residents earning between 30% and 70% of the area median income.<\/p>\n FK Architecture<\/a> designed the 4-story, all-concrete building that will serve as a prototype for NRP Affordable\u2019s future projects. VP of Development Bill Zunamon said they opted for concrete construction to maximize the property\u2019s value and hurricane resilience.<\/p>\n \u201cOne of the main differences is that these are long-term holds for us,\u201d Zunamon said, adding that NRP Affordable has two more all-concrete projects in underwriting on Florida\u2019s Gulf Coast.<\/p>\n The development plan calls for 16 one-bedroom units, 52 two-bedroom units, and 20 three-bedroom units. The community will have a pool and tot lot. There\u2019s also an integrated clubhouse with a media room and a fitness center. It will utilize surface parking.<\/p>\n The capital stack consists of loans, tax-free bonds and 4% Low-Income Housing Tax Credits. Truist Bank<\/a> is the equity lender and purchased the tax credits. Truist also provided a $20 million construction loan based on the tax-free bonds from Florida Housing Finance Corp. A Community Development Block Grant for counties impacted by Hurricane Ian provided $9.5 million in gap financing.<\/p>\n \u201cWe broke ground on Wednesday of last week, right after the closing,\u201d Zunamon said. \u201cThe estimate for when construction will be complete is December of next year.\u201d<\/p>\n Have a tip about Central Florida development? Contact me at\u00a0lkinsler@GrowthSpotter.com<\/a> or (407) 420-6261. Follow GrowthSpotter on\u00a0Facebook<\/a> and\u00a0LinkedIn<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Developers have closed construction loans totaling $119 million for two new market-rate apartment communities on Kissimmee\u2019s Lake Tohopekaliga…\n","protected":false},"author":2,"featured_media":323786,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[558,28,1975,114,12114,1335,11477,139,141,140,1976,1974,480],"class_list":["post-323785","post","type-post","status-publish","format-standard","has-post-thumbnail","category-orlando","tag-business","tag-florida","tag-kissimmee","tag-latest-headlines","tag-multifamily-residential","tag-orange-county","tag-orange-county-developments","tag-orlando","tag-orlando-headlines","tag-orlando-news","tag-osceola-county","tag-osceola-county-developments","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/323785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=323785"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/323785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/323786"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=323785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=323785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=323785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"The](\"https:\/\/www.growthspotter.com\/wp-content\/uploads\/2026\/06\/TGS-L-JBL-Orlando-Gateway-01.jpg?w=620\")
<\/p>\n![\"The](\"https:\/\/www.growthspotter.com\/wp-content\/uploads\/2026\/06\/TGS-L-Gateway-clubhouse.jpg?w=620\")
<\/p>\n![\"Baker](\"https:\/\/www.growthspotter.com\/wp-content\/uploads\/2026\/06\/TGS-L-JBL-Orlando-Gateway-02.jpg?w=620\")
<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/06\/TGS-L-gateway-site-plan-2026.jpg\")
The multi-phased Gateway community will have four 5-story apartment buildings with structured parking, a central resort-style pool and two clubhouse buildings. (Site plan by Baker Barrios)<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/06\/TGS-L-Hedrick-Lake-Toho-Kissimmee.jpg\")
The 21.7-acre Hedrick at Lake Toho will feature 366 apartments along with amenities including a resort-style pool, coworking spaces, pickleball courts, a yoga lawn, dog park, EV charging, private garages and access to Lake Tohopekaliga and surrounding trail systems. (Rendering by Cormia Design Group)<\/p>\n![\"NRP](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/06\/TGS-L-ALORA-LOFTS-NRP-Group-01.jpg\")
NRP Contractors broke ground last week on the 88-unit Alora Lofts affordable housing community in Kissimmee. (Rendering by FK Architecture)<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/06\/TGS-L-ALORA-LOFTS-NRP-Group-02.jpg\")
The amenity package includes an integrated clubhouse with a fitness center, a pool and barbecue area and a tot lot. (Rendering by FK Architecture)<\/p>\n