A 276-unit apartment development opened last year in Apopka, Florida, with a dual-focus on sustainability and nature, and personal health.
NOVO Avian Pointe features a geothermal system that uses the ground's natural temperature to heat and cool homes, according to project developer Taurus Investment Holdings. The property also has an energy management system, electric vehicle charging stations and LED lighting. In addition, NOVO was built to foster interaction among residents and includes such amenities as an organic relaxation garden and a bicycle-sharing program.
The project has earned a 2025 CoStar Impact Award for multifamily development of the year for Orlando, as judged by real estate professionals familiar with the market.
NOVO Avian provides a desirable asset class for investment, Taurus said, noting that commercial real estate stakeholders increasingly prefer energy-efficient multifamily properties because of the longevity of the product.
“As the real estate market continues to evolve, we believe future-proofing our investments is paramount," Taurus CEO Peter Merrigan said in a statement when the project opened.
Taurus worked on the property in a joint venture with TPG Real Estate Partners. Willowbridge is the property manager, while EcoSmart Solution designed the geothermal system.
About the project: NOVO Avian Pointe is a six-building complex at 2500 Conserve Circle. in an Orlando suburb. Rents for the one-, two- and three-bedroom units range from $1,500 to more than $2,500, according to the property website.
What the judges said: The complex "stands out for its unique advantage of incorporating advanced green technology," said Janet Galvin co-founder of Archon Commercial Advisors.
“I find it compelling that NOVO Avian Pointe is reducing its environmental impact by harnessing on-site renewable energy sources,” said Jeré Matheny, vice president of brokerage at First Capital Property Group.
They made it happen: Taurus Investment Holdings' Allen Peacock, Tony Brannan, Elizabeth Lane, Ted Mead, Nick Clark, Adam Clarke, Peter Merrigan and Erik Rijnbout; Chris Gray and Mike Nelidin of EcoSmart Solution.