Middleburg Communities has acquired two land parcels, totaling 49 acres in Wesley Chapel, Fla., for the development of Mosby Avalon Park, a 338-unit multifamily project, and Hamlet Avalon Park, a 260-unit build-to-rent project. The company paid a total of $14.7 million for the parcels and secured a $47.5 million loan from Synovus Bank, public records show.
Both developments will be part of the 1,600-acre Avalon Park Wesley Chapel master-planned community, comprising 4,800 units and 500,000 square feet of retail and commercial space, developed by siteX, an Avalon Park Group company.
Construction of Mosby Avalon Park is set to start right away. Plans call for six four-story buildings with one-, two- and three-bedroom floorplans, equipped with vinyl plank flooring, quartz countertops and stainless steel appliances.
The SFR development is planned as the second phase of the project, comprising cottages, duplexes and townhomes with a mix of one- to three-bedroom floorplans, as well as private yards, attached garages, private entries and patios. Residents will have access to green spaces and parks, a swimming pool, a fitness center and a dog park with a pet spa.
Both developments will be close to interstates 75 and 275, offering easy access to downtown Tampa, which is some 23 miles to the south. Several retail options, including The Shops at Wiregrass, Barnes & Nobles and Publix Super Market, will be close to the upcoming communities, as well.
Expanding Florida footprint
Hamlet and Mosby will be Middleburg’s first projects in the Tampa area, as the company continues its commitment to further expand in Florida and the Southeast. Last August, the company partnered with Parse Capital to develop Mosby Citrus Ridge, a 300-unit community in Davenport, Fla. Earlier in July, Middleburg paid $100.5 million for Champions Ridge, a 300-unit property near Orlando, as part of its joint venture with Stockbridge.
