Royal Palm & Mattoni Group Kickoff Construction of Tuscany Village, the Largest Multifamily Development in Sanford, Florida's History

A joint venture between Royal Palm Cos. and Mattoni Group has commenced construction on Tuscany Village, a significant multifamily project in Sanford, Florida. This 420-unit development is the largest of its kind in the city's history, with an expected completion date in the second quarter of 2026.

Acquisition and Financing

The developers purchased the 21-acre site for $12.7 million in June, as reported by Yardi Matrix. Key partners in this project include LandSouth Construction as the general contractor and Forum Architecture & Interior Design. Last month, the venture secured a $68 million construction loan from City National Bank of Florida and received an additional $18 million in preferred equity from Origin Investments, according to Florida YIMBY.

Project Details and Amenities

Tuscany Village is designed for green certification by the National Green Building Standard (NGBS) and will feature seven identical four-story buildings. The units will range from 782 to 1,398 square feet, offering one-, two-, and three-bedroom options. Each apartment will include a private balcony, walk-in closet, and in-unit washer and dryer.

Amenities will be extensive, featuring EV charging stations, a 9,000-square-foot clubhouse with a coworking business center, communal workstations, a demonstration kitchen, and a pet grooming area. Additionally, there will be a fitness center and a swimming pool with a jacuzzi and cabanas.

Location and Accessibility

The Tuscany Village site is located at 4201 W. First St., near dining and retail options such as Towne Center Plaza and Gateway Plaza shopping malls. The Orlando Sanford International Airport is just 10 miles away, while downtown Orlando is approximately 20 miles to the southwest.

Growth in Orlando's Multifamily Market

Orlando's multifamily market is expanding rapidly, with 119 developments under construction as of May, totaling around 30,300 units, according to Yardi Matrix. The area also has 451 prospective projects and 79 in various planning stages.

Recent Developments in the Region

Recent additions to the region include Kimaya Real Estate's Aston Square Apartments, a 287-unit luxury community in Kissimmee, Florida, designed by ACI Architects, which opened earlier this month. Additionally, Thompson Thrift began construction on The Junction at Rockledge, a 380-unit luxury community in Rockledge, Florida, with first move-ins expected early next year.