Hedrick Brothers lands $56.5 million loan for Kissimmee apartment project

Hedrick Brothers Development secured $56.5 million in construction financing for The Hedrick at Lake Toho, a 366-unit luxury apartment community planned for Kissimmee. The project moves into vertical construction as Central Florida’s housing demand continues to rise.

Why it matters: - The $56.5 million construction loan moves The Hedrick at Lake Toho from planning into vertical construction. - The 366-unit Class A project adds new rental supply in one of the Orlando metro area’s fastest-growing submarkets. - The development is positioned to serve workers and renters tied to Central Florida’s major employment hubs.

What happened: - Hedrick Brothers Development secured construction financing for The Hedrick at Lake Toho in Kissimmee. - The project is planned along Toho Grande Boulevard on about 21.7 acres. - The community will include one-, two- and three-bedroom residences. - Initial leasing is expected at the end of 2027. - Total completion is expected by the end of 2028.

The details: - The Hedrick at Lake Toho Apartments will feature a resort-style pool with cabanas and a fire pit. - Planned shared spaces include a clubhouse with coworking and gaming areas. - The amenity package also includes pickleball courts, a yoga lawn, a dog park and pet wash stations. - The project will include EV charging and private garages with car chargers. - The site is near Lake Tohopekaliga and surrounding trail systems. - The development offers access to Downtown Kissimmee, Interstate 4, Orlando International Airport, Lake Nona’s innovation district and other Central Florida employment centers.

Between the lines: - The financing adds to Hedrick Brothers Development’s recent push into Central Florida multifamily projects. - The company broke ground in 2025 on a $106 million multifamily community in Orlando’s Baldwin Park submarket. - Hedrick Brothers Development and Capstrata Group also announced Edon Park, a 22-acre mixed-use project in Kissimmee with residential, retail, hospitality and entertainment uses. - Burk Hedrick said the financing is a significant milestone and that demand for housing in the area remains strong. - The vertically integrated structure with Hedrick Brothers Construction is designed to streamline delivery from development through construction.

What's next: - Hedrick Brothers Construction will serve as general contractor. - Kimley-Horn is the civil engineer, Scott + Cormia is the architect, Innovations Design Group is the landscape architect and Design Environments is the interior designer. - The project team says the community will move ahead with coordinated development, design and construction work. - Leasing and completion remain on track for late 2027 and late 2028, respectively.

The bottom line: - Hedrick Brothers is betting that Kissimmee’s growth will support another large apartment community, and the new loan gives the project the capital needed to move forward.