At a time when apartment developers are finding it more and more difficult to finance new construction, Terian Development‘s Ian McCook has found a secret sauce — securing $155 million in construction loans for two projects now underway in Orlando and set to deliver in 2028.
“The right projects, the right time, right partnerships,” McCook told GrowthSpotter. “And I believe in 2028, and where the market’s going to be out at that time frame, and we’re very excited about these projects that we’re launching.”
Those projects include Dream Lofts at Full Sail University, the university’s first-ever student housing complex, and Emi on 50, a nine-story 336-unit multifamily project in the heart of the Mills 50 district on the southeast corner of East Colonial and Hampton Drive.
McCook, former CEO of Nvision Development, founded Terian Group as a successor company to introduce a new funding strategy that relies on smaller investors for the seed equity. The new real estate fund utilizes a friends-and-family model that invests in institutional-quality developments.
“Terian Capital was launched in 2025,” McCook explained. “And it’s an investment model that we’ve brought in individual investors with the minimum investment of $250,000. And so we’ve utilized funds from non-traditional capital equity sources to put together the seed funding that we required for these projects.”
Terian broke ground in March on Phase 1 of Dream Lofts after securing a $62.5 million construction loan from Fifth Third Bank. The five-story building will have 180 units, comprising 576 beds, and a pedestrian bridge connecting it to the main campus. The facility also features resident amenities, including:
- Modern, fully furnished living options ranging from one to four bedrooms
- High-speed fiber connectivity and built-in media workspaces
- Collaborative creative lounges, flexible community and study spaces
- Resort-style pool and outdoor gathering spaces
- Fitness center, lounge facilities and resident gathering areas
- Integrated safety features, including secure parking, building access control, and indoor bike storage
The project has been designed by CBA Architects, MEP and structural engineering by Joseph Lawrence & Co. Consulting Engineers, Forum Architecture & Interior Design Inc., Foster Conant & Associates landscape architects, and KPM Franklin civil engineering.
McCook said the pedestrian bridge will be completed by the time Dream Lofts receives its certificate of occupancy in 2028.
The developer will break ground this month on Emi on 50, a nine-story 336-unit Class-A apartment community in the heart of the Mills 50 district on the southeast corner of East Colonial and Hampton Drive. JLL arranged the financing, a $92.5 million construction loan from PCCP, and DeAngelis Diamond — the GC for both projects — filed a notice of commencement on April 2.
McCook said he chose the name Emi because it is Japanese for “blessing” or “beautiful smile.” Emi on 50 draws architectural and interior inspiration from Japandi design, blending Japanese and Scandinavian aesthetics to create a calm, nature-forward residential environment.
“It was a collaboration. As we went through interior design concepts, we came across an interior design concept called ‘Japandy’ that was new to us,” McCook said. “We felt it was fresh, and we felt it was very fitting with the location of the project and the history of the neighborhood.”
The building will be constructed entirely using precast concrete, supporting structural durability and construction efficiency. Planned amenities include a rooftop pool and sunset terrace, an elevated pickleball court and wellness center, a Japanese garden courtyard, speakeasy-inspired lounge, coworking loft spaces, and smart-home integrations throughout the residences.
The development team includes Baker Barrios architects, McNamara Salvia Structural Engineers, Jordan Skala MEP engineers, Forum (Interiors), Foster Conant & Associates, and KPM Franklin. Upon completion, the project will be managed by Willow Bridge.
The project features 36 townhouse-style units on the ground floor, of which 21 will be live-work units fronting on Colonial, Hampton Avenue or opening onto the interior courtyard. The 17 residential townhomes will line Hillcrest Street, open to the courtyard or next to the main lobby entrance.
“One of the things that we wanted to do with the design of the project is to eliminate bedrooms from the ground floor,” McCook said. “So our townhome units and our live-work units, none of those units have any bedrooms on the ground floor. So they are always either living space or work space on the ground floor, with bedrooms up on the second floor, from a safety perspective.”
Terian’s timing makes it an outlier, given the deceleration of the Orlando multifamily market despite the region’s continued population growth. Cushman & Wakefield reported that new construction starts in the second half of 2025 were down 12.6% year over year, dipping to their lowest point in the post-COVID era.
“We do know that this is a time that not every developer is breaking ground on projects, but we believe that the timing is perfect so that we’re meeting the market or delivering these properties at a time where supply is going to be at a low and demand will continue to be strong,” McCook said.
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