A South Florida-based real estate development firm has officially broken ground on a new, 360-unit, multifamily residential community that is near Interstate 75 and State Road 200 in southwest Ocala after securing more than $62 million in construction financing.
Construction is now underway on the new Leena Ocala, a 36-acre property situated at the intersection of SW 60th Avenue and SW 52nd Street, approximately 1.5 miles from the Ocala International Airport.
Merrimac Ventures, in partnership with Southern Waters Capital, secured $62.5 million from debt investment manager ACORE Capital to fund the development of the complex. The site is approximately two miles from the intersection of Interstate 75 and State Road 200, and 1.5 miles away from the Ocala International Airport.
The development plan features a combination of multi-family housing styles, including 300 garden-style apartments distributed across several three-story buildings, alongside 60 separate two-story townhome units.
The garden apartments will offer a mix of one-, two-, and three-bedroom floor plans ranging from 773 to 1,191 square feet. The townhomes will feature two- and three-bedroom layouts spanning between 1,299 and 1,841 square feet.
According to the developers, the project is scheduled to deliver its first completed residential units in late 2027, with the full completion of the entire 36-acre campus anticipated sometime in 2028.
The interior of each residence will feature luxury vinyl flooring, quartz countertops and vanities, stainless steel appliances, soft-close cabinetry, glass door showers, contemporary lighting, high-efficiency HVAC systems, in-unit washers and dryers, and private balconies.
Shared community amenities planned for the site include a central clubhouse with a fitness center and resort-style pool, a pet grooming station, multiple walking trails, neighborhood parks, open landscaped fields, a dog park, and pickleball courts.
The developers cited sustained regional housing demand as the catalyst for the project, pointing to the United States Census Bureau estimates indicating the Ocala metropolitan area’s population grew by approximately 3.4 percent between 2024 and 2025, adding over 14,000 residents.
What are your thoughts on the addition of 360 new apartment and townhome units near the Ocala International Airport corridor? Share your comments below.