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Dwight Capital Closes $51.8M HUD Loan for Leesburg's Integra Isles

2024-12-11

Dwight Capital has achieved a significant milestone by successfully closing a substantial $51.8 million HUD 221(d)(4) construction loan. This loan is set to fuel the development of Integra Isles, a remarkable planned 264-unit, market-rate apartment community in the vibrant city of Leesburg, Florida. Situated just outside Orlando, this project holds great promise.

Unlock the Potential of Leesburg's New Apartment Community

Details of the Development

Integra Isles is set to rise on a generous 15.5-acre plot. It will comprise 132 one-bedroom units, 114 two-bedroom units, and 18 three-bedroom units, all spread across 11 elegant three-story garden-style buildings. Additionally, a one-story clubhouse and leasing office will add to the charm and convenience. This diverse range of unit types caters to various living needs.

The design of Integra Isles focuses on providing an exceptional living experience. It will offer a wide array of amenities, such as a clubhouse equipped with a game room and fitness center. The resort-style pool with cabanas is perfect for relaxation and leisure. There's also a dedicated dog park, an indoor pet spa for our furry friends, a grill station for outdoor cooking, a cozy fire pit, and a sports bar for socializing. Each apartment will feature screened balconies or patios, allowing residents to enjoy the outdoors in comfort.

Green Building Features and Certification

Integra Isles stands out with its commitment to sustainability. The project qualifies for a reduced Green Mortgage Insurance Premium (MIP) of 25 basis points as it is pending a National Green Building Standard Bronze Certification. This means that the development incorporates environmentally friendly features that not only benefit the residents but also contribute to a greener future. From energy-efficient systems to sustainable materials, every aspect is designed with the planet in mind.

The National Green Building Standard Bronze Certification ensures that Integra Isles meets certain benchmarks in terms of energy conservation, water efficiency, and indoor environmental quality. These features not only reduce the environmental impact but also lead to lower utility costs for the residents, making it a win-win situation.

The Role of the Developer and Contractor

The development is being led by Integra Land Company, a renowned developer with a track record of excellence. Land South has been appointed as the contractor, ensuring that the construction is carried out with precision and quality. Together, they are working towards bringing this visionary project to life.

Integra Land Company's expertise in the real estate industry and Land South's construction prowess combine to create a powerful partnership. This ensures that every aspect of the development is handled with care and professionalism, from the initial planning to the final touches.

The Impact on the Local Community

The construction of Integra Isles is expected to have a positive impact on the local community. With 264 new apartments, it will provide housing options for a diverse range of residents. The amenities offered will also enhance the quality of life in the area, attracting more people to Leesburg.

In addition, the project is likely to create jobs during the construction phase and contribute to the local economy. It is a testament to the growth and development potential of Leesburg, just outside Orlando.

Construction companies are about to face a significant change as per a notice from the Labor Department. Starting in January, these companies will be obligated to supply their employees with appropriate safety gear. This move is in line with the updated construction rule by the US Occupational Safety and Health Administration. The rule now mandates that employers provide personal protective equipment like gloves, high-visibility vests, goggles, fall protection harnesses, and helmets that "properly fit" the workers. The impetus behind this change lies in the agency's effort to extend this requirement to the construction sector, aiming to ensure that safety equipment better suits women in the industry. OSHA is concentrating on dealing with the economic aspects associated with the rule, while also delving deeper into various aspects related to safety and compliance.

Ensuring Safety with Well-Fitting Gear in Construction

Importance of Well-Fitting Safety Gear

1: Well-fitting safety gear is of utmost importance in the construction industry. When employees have gear that fits them properly, it provides maximum protection. For example, a glove that is too loose may not offer adequate grip, increasing the risk of accidents. On the other hand, a glove that is too tight can restrict movement and cause discomfort, leading to potential errors. High-visibility vests that fit well ensure that workers are easily visible in busy construction sites, reducing the likelihood of collisions. 2: Fall protection harnesses that are properly fitted are crucial in preventing serious injuries from falls. If the harness is too loose, it may not hold the worker securely in case of a fall. Conversely, a harness that is too tight can cause discomfort and restrict breathing. Helmets that fit properly distribute the impact in case of a head injury, providing better protection.

Impact on Construction Companies

1: Implementing the requirement of providing well-fitting safety gear poses both challenges and opportunities for construction companies. On one hand, it requires an investment in ensuring that the right size and type of gear is available for each employee. This may involve conducting proper measurements and stocking a variety of sizes. However, in the long run, it can lead to a safer work environment, reducing the number of workplace accidents and associated costs. 2: Construction companies that embrace this change and prioritize safety can enhance their reputation. A company that is known for providing proper safety gear is likely to attract more skilled workers and clients who value safety. It also shows a commitment to the well-being of employees, which can lead to increased employee morale and productivity.

Challenges in Ensuring Well-Fitting Gear

1: One of the main challenges in ensuring well-fitting safety gear is the variation in body sizes and shapes among employees. Each person has unique measurements, and it can be difficult to provide a one-size-fits-all solution. This requires companies to have a system in place for accurately measuring employees and ordering the appropriate gear. 2: Another challenge is the cost associated with providing well-fitting safety gear. Some specialized gear may be more expensive, and companies need to balance the need for safety with their budget constraints. However, it is important to remember that investing in safety is an investment in the future of the company and its employees.

In the heart of Oxford Commons, a flurry of construction activities is set to take place. The area is witnessing a significant growth in commercial undertakings, with new projects on the horizon. David Blackburn, the renowned developer of Oxford Commons, has submitted a preliminary plat for approval, marking the start of an exciting phase.

Unlock the Potential of Oxford Commons with New Construction

The Summit, Phase 3 - A Mixed-Use Marvel

Originally planned as big-box retail, The Summit, Phase 3 has now transformed into a mixed-use project. Spanning about 20 acres, it is strategically located in the Oxford Commons Planned Unit Development. West of The Preserve and south of The Summit, Phase 2, and north of The Pearl, this project will connect Lakewood Hill Drive to Summit Drive, facilitating better access to Ed Perry Boulevard. It holds the promise of a diverse blend of retail, office, and residential spaces, offering a unique living and working experience.This shift towards a mixed-use model is set to redefine the landscape of Oxford Commons. It will not only bring in a variety of commercial activities but also enhance the overall livability of the area. The combination of different uses is expected to create a vibrant community where people can live, work, and shop all in one place.

New Citizens Bank - A Financial Hub in the Making

At the southwest corner of Sisk Avenue and Commonwealth Boulevard, a new two-story Citizens Bank is set to rise. Spanning 1.2 acres, this bank will be a two-story structure with a drive-through and ATM. The design ensures that the stacking for the drive-thru will occur around the 2-foot building, minimizing the impact on the public street and preventing overflow.The approval of this bank by the Planning Commission is a significant milestone. It will bring much-needed financial services to the area and contribute to the economic growth of Oxford Commons. The presence of a modern bank will enhance the convenience for residents and businesses alike, providing them with easy access to financial transactions.In conclusion, the planned commercial construction in Oxford Commons is set to bring about a transformation. With projects like The Summit, Phase 3 and the new Citizens Bank, the area is poised to become a hub of activity and development. It offers exciting opportunities for investors, businesses, and residents alike, marking a new era in the history of Oxford Commons.