10 Jul Ventures Development Group, BCDC Break Ground on Coastal Florida Community
Ventures Development Group and Batson-Cook Development Company (BCDC) have broken ground on Orange City Apartments, a 13-acre garden-style multifamily project in Orange City, Fla.
The 298-unit community is the latest for the joint-venture partnership of Ventures Development Group and BCDC, following similar projects in Terrell, Texas and Jacksonville, Fla. Orange City Apartments will have ten residential buildings, each rising three stories, with a clubhouse and an amenity building.
“We are excited to be underway on our third development with Ventures Development Group,” said Litt Glover, President and CEO, BCDC. “Rob McConnell and Sean Siebert have a strong record in building communities with marketing-leading designs and amenities with the highest level of integrity.”
Orange City Apartments will be well-positioned between Orlando and Daytona Beach. The city is particularly attractive due to its thriving healthcare industry, an amenity base consisting of essential popular retailers and restaurant staples, as well as access to critical job centers throughout the Orlando area.
It is in close proximity to AdventHealth Fish Memorial, Halifax Health | UF Health and Amazon, which have fueled the local economy with significant investments in the area. Capitalizing upon Orange City’s robust economic and population growth, the project will serve the strong workforce employment base, consisting of nearly 35,000 jobs within a 10-mile radius.
Cadence Bank and BlueRock are providing financing. Flournoy Construction Group is the general contractor and Humphreys & Partners Architects is the architect.
Delivery of first units is expected in late 2022.
About Ventures Development Group
Ventures Development is a fully-integrated multi-family development and management firm with offices in Baton Rouge, La. and Jacksonville, Fla. VDG believes in a “value creation” approach when taking on real estate development opportunities. Whether through Rezoning, Entitlement Reform or Incentive Procurement, VDG believes all great and successful development opportunities begin and end with organic value creation. For more information, visit www.venturesdevelopmentgroup.com.
About BCDC
Founded in 1963, BCDC is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, BCDC offers a wide variety of real estate services from development and construction to equity and credit enhancements, to brokerage and property management. It is a wholly-owned subsidiary of Kajima USA. Visit www.batsoncookdev.com from more information.