Beachwold Residential has secured a $176.6 million construction loan to fund Place at Alafaya Phase I & II, a new Class A student housing community planned to serve the University of Central Florida in Orlando, Florida. The project is designed as a four-building, four-story development with a total of 484 units and 1,395 beds. Affinius Capital originated the construction financing, which was arranged by Mona Carlton, Elliott Throne, and Josh Odessky of JLL.
Place at Alafaya will be delivered in two phases. Phase I is planned as a two-building, four-story community with 284 units and 809 beds. It is expected to be completed in time for the 2028/2029 academic year, positioning the property to capture demand for purpose-built student housing near UCF. Phase II is programmed to add a further 200 units and 586 beds, along with 534 parking spaces, and is scheduled to deliver ahead of the 2029/2030 academic year.
A three-story, 16,000-square-foot standalone clubhouse is planned as the central amenity hub for the development. The clubhouse will feature a boutique coffee bar, social and study lounges, and dedicated gaming and theater areas designed for student residents. The top floor will house a fitness and wellness center that is expected to include a sauna and cold plunge facilities.
The broader amenity package for Place at Alafaya will include lagoon-style swimming pools with cabanas, multiple landscaped courtyards, pickleball courts, and a half-court basketball area. To support connectivity with the nearby campus, the community will also offer a direct shuttle service to the University of Central Florida.
The planned scale, phased delivery strategy, and amenity-rich program underscore the property’s positioning within the purpose-built student housing segment serving one of the nation’s largest universities. The construction loan financing represents a significant capital commitment to new student housing supply in the UCF area.
