MEDIA ROOM

May 2, 2017

New Luxury Apartments to Rise on Shores of Maitland’s Lake Gem

By Anjali Fluker, Orlando Business Journal

A new project is expected to begin to rise this summer that will bring luxury apartment units with waterfront views, lake access and a newly rebuilt fishing dock to Maitland.

Atlanta-based Pollack Shores Real Estate Group LLC expects to begin work next week on demolishing the existing Maitland Shores apartment complex on Lake Avenue and west of South Orlando Avenue, and rebuilding that into a 237-unit, Class A apartment complex with “top-shelf amenities and stunning lakeshore views for residents,” according to a news release.

The developer’s related PSREG Maitland Shores Owner LLC on March 28 spent $8.75 million to buy the 53-year-old, 128-unit Maitland Shores complex at 304 Lake Ave. in Maitland from Altamonte Springs-based SES Group-Maitland Shores Ltd., Orange County records showed.

Plans for the new complex include units with high-end finishes, such as a mixture of quartz and granite countertops, vinyl plank flooring and stainless steel appliances, and about 20 private garages, the release said. Additionally, the community amenities include a luxury resort-style pool with outdoor kitchen and bar area featuring views of Lake Gem, where residents also will be able to use kayaks, canoes and paddle boats plus access to a fishing dock and multiple gathering areas with fire pits

The project also is expected to include a new lighted bike and pedestrian trail that will connect to the city of Maitland’s trail to the east of the property, the release said.

“This site checked all the boxes for our development strategy, and we’re pleased to offer a beautiful lakeside community that provides convenient access to a full range of lifestyle options for future residents,” Pollack Shores President and co-founder Steven Shores said in a prepared statement. “The city of Maitland has been a great partner in this process and we look forward to expanding our footprint in greater Orlando.”

Pollack Shores plans to start vertical construction within the next two months, and construction will take about 15 months to complete.

The project architect is Midlothian, Va.-based Poole & Poole Architecture LLC; Albany, Ga.-based Oxford Construction Co. is the general contractor; and Pollack Shores’ subsidiary Matrix Residential will manage the property.

The new apartment redevelopment will add to all the activity happening in Maitland, including the $68 million Maitland City Centre, the $60 million Maitland Concourse North mixed-use development, and a new 300-unit apartment complex being planned by Wellington-based The Bainbridge Cos. LLC, as previously reported by Orlando Business Journal.

Be sure to come back to OrlandoBusinessJournal.com for updates on this and other local apartment developments.

Read the full article here.