Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + Central Florida  + Apartments  |  June 3, 2021
David Cohen
By: David Cohen

T2 Capital to Convert 254-Room Hotel to Workforce Housing in Orlando

T2 Capital Management has acquired the six-story, three-building Baymont hotel in Kissimmee, FL. The real estate investment firm plans to redevelop the property into a 254-unit multifamily workforce housing community called West Bay Village.

Located at 7601 Black Lake Road, the property is adjacent to Disney World and along the entry road to Animal Kingdom. It will target hospitality and other service workers as tenants. The project will have 204 studio apartments and 50 one-bedroom units. The initial average rent per unit is projected to be about $930 per month, making the units affordable to workers earning between $35,000 and $55,000 per year. Planned capital improvements include a mix of common area upgrades and in-unit renovations.

Construction is slated to begin this month with initial occupancy of the project expected in the first quarter of 2022. Equity for the project was provided by 184 individual investors from online real estate investment marketplace CrowdStreet.

Connect

Inside The Story

CrowdStreet T2 Capital

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
Order Reprints
  • ◦Development
New call-to-action
New call-to-action