A 309-unit multifamily Class A community dubbed Parkway Crossings has commenced construction in Kissimmee, Florida. Recently, Fore Property Co secured financing to build the multifamily community planned for Osceola Parkway. PCCP provided the $67.8 million loan for the development.
The Parkway Crossings development is taking place on a six-acre site near the corner of Orange Avenue and Osceola Parkway. Its location is also about 20 miles south of downtown Orlando. Therefore, the new community will offer future residents easy accessibility throughout the region via Osceola Parkway and the Florida Turnpike.
Additionally, several major employers like Disney, KMPG, the U.S Tennis Association and the University of Central Florida are near its location.
Development plans for the Parkway Crossings community
Parkway Crossings, a four-story elevatored community, will feature a mix of one, two and three bedrooms, averaging 939 square feet. Residents will enjoy premium amenities like a tenant clubhouse, a 24-hour fitness centre, an outdoor BBQ area, a pool and a lounge area. In addition, the property will include a lounge area, dog park, EV charging stations and a 570-space parking garage.
The Parkway Crossings community was designed to meet the LEED Silver standards. The interior will feature quartz countertops, tile backsplashes and luxury vinyl plank flooring. Additionally, all units will also have Energy Star stainless steel appliances, an in-unit washer/dryer, and a smart home package. The developers expect the project to reach completion by 2025.
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PCCP’s V.P., Andrew Barbakoff described Parkway Crossings as an exciting new apartment project located within the high-growth Orlando MSA. Barbakoff also said his company was pleased to service an existing client in Fore Property Company.
According to Fore Property, this is not the first time their company has collaborated with PCCP on a project. Besides Parkway Crossings, they have also worked on Alibi at Lake Lilly, a 410-unit garden-style community near Orlando. Both companies formed a joint venture in January 2022 to build the multifamily community on a 16.7-acre site.
Upon completion, the property will have five, four-story multifamily buildings and seven carriage-style/townhome unit buildings.
