LAKE NONA, FL – Flournoy Development Group and JR West announced the groundbreaking of Ellison Nona, the newest addition to Ellison, Flournoy’s premier multifamily brand. Located in the thriving Lake Nona submarket of Orlando, Florida, the development spans approximately 14.2 acres and features 377 thoughtfully designed one-, two-, and three-bedroom residences tailored to a variety of lifestyle needs.
The “Class A” community embodies luxury, convenience, and connectivity, offering a distinguished living experience with a range of premium amenities. The free-standing clubhouse will include a state-of-the-art fitness center, a yoga and spin studio, a virtual golf simulator, and a resort-style pool overlooking Lake Whippoorwill. Outdoor amenities include a dog park, pickleball court, grilling pavilion, and multiple lakefront docks. The community incorporates modern work-from-home conveniences, including coworking spaces and dedicated conference rooms. An integrated leasing and mailroom facility with a grab-and-go mini-market adds further convenience. Secure, gated access, tuck-under garages, and surface parking for 593 vehicles round out the thoughtful design.
“We are thrilled to commence construction on Ellison Nona, a transformative project that reflects our commitment to making vibrant, elevated communities,” said Blake Breimann, President and CEO for Flournoy Development Group. “This unique location in Lake Nona provides unparalleled access to major employment centers, world-class healthcare, and exceptional lifestyle amenities.”
Situated along the dynamic Narcoossee Road corridor, Ellison Nona offers residents immediate access to FL-417, the Lake Nona Town Center, and Orlando International Airport (MCO). The site features stunning views and direct access to Lake Whippoorwill, including a public walking trail connecting adjacent properties and a two-tale clubhouse with lakefront amenities. Key transportation options include proximity to major highways and the recently expanded Brightline high-speed rail system at MCO, enhancing connectivity to Miami, West Palm Beach, and future destinations such as Tampa and Walt Disney World.
Lake Nona’s vibrant economy, driven by healthcare, corporate campuses, and educational institutions, supports a rapidly growing employment base. The project is only 20 miles from Walt Disney World Resort, the state’s largest employer, and 7 miles from Orlando International Airport (MCO). Other major employers near the community include Lake Nona Medical City, which houses Nemours Children’s Hospital, the VA Medical Center, and the UCF College of Medicine. Corporate campuses for industry leaders such as KPMG, Amazon Robotics Distribution Center, and Verizon further bolster the local job market.
This project represents a highly competitive addition to the market, with its proximity to FL-417 making it the most accessible apartment community on Narcoossee Road. The luxury development also offers conditioned corridors, expansive lake views, and a public walking trail, providing an elevated living experience unmatched by other properties in the area.
The Ellison Nona project team includes architect Forum Architecture & Interior Design, contractor FaverGray, Civil Engineer Kimley-Horn, and the community will be managed by Flournoy Properties Group.

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JACKSONVILLE, FL – Thompson Thrift, a full-service, nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Velara, a 312-unit Class A multifamily community in Ponte Vedra’s Nocatee master plotted community. Construction will start mid-February, with the first residents expected to go in during summer 2026.
“Nocatee has been one of the country’s fastest-selling master plotted communities and there is significant demand for luxury multifamily living options,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We are excited that Velara will provide residents with a high-quality multifamily community that seamlessly integrates with the unique Nocatee lifestyle.”
Sitting on just over 12.5 acres along Burbank Avenue near Nocatee’s western interchange, the community will feature 3-tale buildings offering one-, two-, and three-bedroom configurations. Thompson Thrift is known for curating amenities and finishes that are on par with for-sale homes and Velara will offer gourmet kitchens with elegant quartz countertops, stainless-steel appliances and glass-top ranges; hardwood-style flooring; quartz vanity tops and undermount sinks; full-size washers and dryers; multiple smart home capabilities and many other designer touches. Additionally, select homes will be enhanced with cabinetry with soft-close doors, a deluxe closet system with shelving, walk-in showers with full tile surround and advanced smart home capabilities. Patio, balcony, private yard and detached garage options will also be available.
Velara sits within the Nocatee master plotted community, which in recent years has been ranked as Florida’s best place to live and the best place to raise a family. Thompson Thrift will include several resort-style amenities specifically catered to the Nocatee lifestyle such as a covered pool-deck patio, a poolside sunken fire pit and private golf cart garages. Additionally, Velara will provide many more high-end features that Thompson Thrift communities are known for, including a fully equipped 24-hour fitness center, thoughtfully designed courtyards, a billiards area, an outdoor gaming area, a pickleball court, a dog park and a pet spa with a grooming station.
In addition to the on-site amenities, residents will also have access to the world-class amenities of Nocatee, such as a kayak launch, two waterparks, a 75-acre community park, various fitness trails, and Nocatee Town Center’s charming restaurants and stores, including the largest Publix in Northeast Florida.
Positioned off US-1 and I-95, the Ponte Vedra area offers quick access to local beaches and over 5,000 acres of parks, preserves, and trails in the area, as well as an simple commute to Jacksonville, one of five “Supernova Cities,” and the Wall Street Journal’s 2023 second hottest job market in the U.S. Currently, there are more than 150 corporate, regional and divisional headquarters operating in the Jacksonville market, and the city had more corporate relocation activity in 2023 than any other major U.S. city.
The land buy was brokered by Tyler Nilsson, senior managing director of investments and Erik Bjornson, senior managing director of investments with IPA.
Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.
The company continues to expand its footprint with several new residential developments targeted for 2025 in key markets across the United States. Velara will be the company’s 18th multifamily development in Florida. Thompson Thrift 2025 Multifamily Development, LP will provide equity capital for the development.

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ORLANDO, FL – FCP closed on a $16.7 million preferred equity investment through its Structured Investments platform to finance Royal Palm at Nona, a 320-unit, Class A multifamily development adjacent to Lake Nona in Orlando, FL. The project, located at 14630 New Creek Avenue, is being developed by Royal Palm Companies, a leading institutional-quality sponsor with a track record of delivering best-in-class residential communities.
“FCP is actively deploying capital to support high-quality developments in growth-oriented markets and Lake Nona is a prime example of the type of submarket where we see long-term opportunity,” said Bruce Gago, who leads FCP’s Florida office. “This transaction underscores our ability to provide flexible, strategic capital to experienced sponsors like Royal Palm Companies, who are developing in-demand housing in supply-constrained markets.”
Billy Herbert, a leader on FCP’s development team, added, “Royal Palm at Nona will deliver a highly amenitized, modern residential community in one of Orlando’s most dynamic submarkets. With proximity to the Central Florida Greenway, Florida’s Turnpike, and Orlando International Airport, the project will benefit from sustained demand fueled by the area’s booming health and life sciences industry, anchored by the renowned Medical City master-plotted district.”
“With Royal Palm at Nona, we are setting a new standard for luxury living in one of Orlando’s most dynamic and innovative communities,” said Dan Kodsi, CEO of Royal Palm Companies. Kodsi continued, “This project represents our commitment to making high-quality, thoughtfully designed spaces that elevate the lifestyle of our residents while fostering community growth and enhancing the surrounding area. By integrating modern design with sustainable and luxurious amenities, we aim to deliver an exceptional living experience that benefits our residents, partners, and the Lake Nona region as a whole. This development will set a new benchmark for elevated living in the Orlando area.”

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