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Oct052019

Delamarre Apartments

Delamarre Apartments is a 379-unit new construction market rate multifamily project located in Celebration, Florida.  Located on 11.9 acres of land, the project will consist of four, four-story elevator-serviced buildings and a freestanding two-story clubhouse building.  The units will have luxury Class A finishes including granite countertops, stainless steel appliances, and walk-in closets.  Residents will have access to an extensive amenity package including an outdoor swimming pool with sundeck and cabanas, community/party room with catering kitchen, business center, fitness club with yoga and spin studio, game room, pet grooming room, storage units, fire pit, grilling stations, bicycle storage, and bocce court.  In addition, there will be an observation deck for viewing fireworks displays at Disney’s nearby Magic Kingdom.  A total of 531 surface parking spaces and an additional 97 garage spaces will be available for residents and visitors.  Utilizing HUD's Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $73,487,800 at a fixed interest rate with a 40-year term.

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