RangeWater Develops Award-Winning,
Environmentally-Friendly, Urban Rental Community
Investment Information: The firm acquired the land for urban luxury infill development from bank on quick close below market basis and developed award-winning cutting-edge community.
Overview: STEELHOUSE apartments opened in 2012, providing great living spaces and exceptional amenities in the Gateway to downtown Orlando. Amenities appealing to young professions include the rooftop “Steel Lounge,” 24-hour “Steel Fit” fitness center, pool, sundeck, granite countertops etc. The environmentally-friendly community is a transit-oriented development located near the Lynx Central Station and SunRail with energy-efficient heating and air, stormwater control, recycling programs and bike storage.
Strategy: Develop financially-sound, environmentally-friendly walkable community in prime urban location with cutting-edge amenities and design appealing to “Gen Y” renters
The Work: The planning process required sensitive negotiations with several government entities and a local design committee. The city wanted a landmark, so the design incorporates a beautiful gallery with huge, brilliantly lit storefront windows. An easement for the Urban Trail, a downtown walking and biking path, reduced the amount of developable land; through creativity, the firm managed to create a community that is both high-density and high-quality.
Results: Thanks to RangeWater’s efforts, the community leased quickly – well ahead of schedule. Orlando’s mayor praised the development as a huge victory, which is creating a positive economic impact for the city. The Southeast Building Conference has bestowed it with two Aurora Awards.