Construction crews have made significant progress at the site of a new, 432-unit luxury apartment complex under development in southwest Ocala.
Ocala-News.com first reported on the 34.06-acre site of the new SW 38th Avenue Luxury Apartments in May.
According to city records, the property is owned by NCFL Investments, LLC, and is being developed by Cullison Wright Construction, which is owned by Ocala City Council President Barry Mansfield.
Over the last six months, several buildings have been erected at the site.
The complex is located at 2300 SW 38th Avenue, across from Interstate 75.
It is just north of Dogwood, a manufactured community, and less than half a mile south of Signature Brands.
In May, a series of permits was issued for the new complex. The first phase of the project calls for the construction of 340,000 square feet of residential space in the form of 240 of the 432 residential units.
SW 38th Avenue Luxury Apartments will consist of approximately 18, 3-story buildings. Floors in the buildings will feature eight residential units.
The property will also feature several amenities, including a clubhouse and a swimming pool.
In 2021, the site was sold between family members for $1 million, according to Marion County property records.
In the Summer of 2022, the property was approved for annexation and land use by Ocala City Council (James P. Hilty, Sr., Barry Mansfield, Kristen Dreyer, Jay Musleh, and Ire Bethea, Sr.).
Council members also approved a rezoning request for the property in October of 2022.
On November 23, 2022, the property was sold for $1,567,000 to PARBOYD, LLC, a limited liability company established by Roy T. Boyd III, CEO of The Boyd Group, and Michael Pardee.
On May 8, 2023, PARBOYD LLC sold the property to NCFL Investments, LLC for $5,000,000, according to Marion County property records.
In the six months since Ocala-News.com last reported on the development of SW 38th Avenue Luxury Apartments, several other developments in southwest Ocala have been presented to city officials. That includes:
- An 11.62-acre property near the I-75, SR 200 interchange, with a planned 209-unit, multi-family development
- A 73-home development planned for a 27.12-acre site along SW 60th Avenue
- A new elementary school under construction along SW 49th Avenue
- The Residences at Grand Oaks, a 528-unit apartment/townhome development that was approved in August
