Condo Conversion Follows $51M-Plus Buy

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ORLANDO-Miami-based development partnership Beach Hill Development and Parkstone Properties are developing a 328-unit condominium conversion project called the Element at MetroWest.

The project, which was formerly known as Bristol Park Apartments, includes 19 garden-style buildings on 17.5 acres located across from Veranda Park in the MetroWest section of Orlando. Veranda Park is a mixed-use development under construction that will contain residential, retail and other uses. Julie Vega-Dominguez, vice president of sales for the Element, tells GlobeSt.com that developers bought the apartment complex $51.5 million. “The location is very attractive. It’s a key to this project,” she says.

The project will include five floor plans named after the property’s element theme–earth, wind, fire, air and metal. The one-, two-, and three-bedroom units will range in size from 661 sf to 1,400 sf and will sell for the mid-$100,000s to the low $300,000s. “We expect to have renovations of the common areas completed within the next 90 to 120 days,” Vega-Dominguez says.

Renovations of the units will be completed as they are purchased because owners will have the option of selecting upgrade packages such as crown moldings, kitchens with high-end cabinetry, granite countertops and tile flooring.

The project will be a gated community surrounded by a golf course designed by Robert Trent Jones, Sr. Other community amenities will include a 5,000-sf clubhouse, fitness center, tennis courts and swimming pool. “A new kind of Orlando lifestyle is now available at the Element–the vibe of hip, metropolitan cities like Miami and Los Angeles has finally come to Orange County,” Vega-Dominguez says. “Having Enzo Enea design the green spaces for the Element is a great addition to an already growing cultural community in Orlando.”

The architect on the project is Enzo Enea and the exclusive sales and marketing agent is Miami-based Fortune International. Other developments by Beach Hill Development and Parkstone Properties include the Waverly at South Beach in Miami Beach and the Madison at MetroWest in Orlando.