Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Wilson Townhomes at Davenport (the “Property” or “Site”), a ±7.1-acre build-to-rent (“BTR”) development site located in Davenport, a high growth, submarket of the Orlando MSA where the population is projected to grow 10.62% by 2027, three times faster than Florida (source: US Census). The Property has site-plan approval for 82 townhomes with garages, making this a rare opportunity to acquire a near shovel-ready tract that allows for a purpose-built residential community within one of the country’s most robust housing markets. In Davenport, residential rents are projected to grow by 33% over the next 5 years, driven by strong demand from new residents and existing residents priced out of the single-family housing market (source: YardiMatrix).
Davenport is experiencing transformational economic growth, driven by a quickly expanding population that is relocating to the submarket provided its strategic location near high quality employers in the healthcare, logistics and tourism industries, including Orlando Health, Advent Health, Amazon, FedEx, UPS Walmart, and Walt Disney World. Further adding to the location’s appeal is a toprated school district, a plethora of retail amenities, and multiple championship golf courses. Additionally, the Property benefits from immediate access to I-4, allowing for superior freeway connectivity throughout Orlando, Lakeland, and Tampa.
- NEAR SHOVEL-READY SITE: ±7.1 Acre site plan approved for 82 townhomes, positioned to meet the unprecedented demand for low-density single-family rental living.
- NATION-LEADING GROWTH FUNDAMENTALS: Located in one of Orlando’s fastest growing submarkets, projections from the Environmental Systems Research Institute estimate that the opulation growth within a 5-mile radius of the site will be 10.62% over the next 5 years.
- HIGHLY DESIRABLE LOCATION: Featuring a high-quality school district, a thriving employment market, championship quality golf courses, and a large array of retail; Davenport offers residents a premium lifestyle-driven location.
- BOOMING LOGISTICS & HEALTHCARE HUB: A growing corporate base and new developments in the logistics, medical and tourism sectors fuels tremendous economic growth in Davenport, which is projected to have a average household income of $103,277 by 2027. (ESRI)
- STRONG MULTIFAMILY FUNDAMENTALS: Outstanding apartment fundamentals with Davenport submarket rents projected to grow by 33% over the next 5 years (6.6% per year), and occupancy to remain elevated at 95.5% (YardiMatrix).
- IDEAL ACCESS & CONNECTIVITY: Located off the I-4 corridor with immediate access to the hearts of the Tampa, Lakeland and Orlando, Davenport is conveniently located in the heart of Central Florida.
- RECORD INSTITUTIONAL CAPITAL CHASING SFR: More than $85 Billion raised by institutional investors targeting single-family rental / build-to-rent assets nationally, is driving aggressive competition and pricing for new-construction purpose-built communities.