Bridgewater at Lake Osborne is a 108 unit Class A luxury multifamily rental housing community that is located on the shores of Lake Osborne in central Palm Beach County. The development site is located ½ mile west of Interstate 95, the main north-south interstate arterial highway serving Palm Beach County, on the south side of Lantana Road. The property is centrally located between West Palm Beach and Boca Raton, the two major urban areas and employment centers of Palm Beach County, Florida’s third largest county by population. The scenic wide waters of Lake Osborne provide a spectacular backdrop for 108 luxury townhomes and garden apartments that are built to luxury condominium quality on a 9.6 acre site. The 400 acres of Lake Osborne offer a superb environment for fishing, water skiing, boating and jet skiing. Bridgewater appeals to water sport enthusiasts by offering a boat ramp providing access to Lake Osborne, as well as a parking lot that can be used for storing boat trailers. In addition to access to Lake Osborne, the community features a waterside resort-style pool and a sunset pavilion, as well as a tot lot and bus shelter for children.
The unit mix of Bridgewater at Lake Osborne consists of 26 2BR/2B garden units, 52 3BR/2B garden units, and 30 3BR/2.5B townhome units. The units range in size from approximately 1,200 square feet for a 2BR unit to nearly 2,000 square feet for the 3 BR townhome units. All of the units have direct access garages and patios or balconies. Unit finishes include nine foot ceilings, granite countertops, wood cabinets and stainless steel appliances. The site also offers restricted access entry.
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Ridgemont Park is a 120 unit Affordable Housing Rental Development. All of the rental set-aside units at Ridgemont Park target residents with incomes at or below 60% of the Area Median Income (“AMI”). The property is located off Lee Victory Parkway in the City of Smyrna, TN. The project is walking distance to Smyrna High School and a short drive to the Nissan Logistics Corporation and a brand new Amazon warehouse distribution center.
The community offers one, two and three bedroom apartment homes. The average unit size is approximately 1033 square feet with the 1 bedrooms averaging 780SF, the 2 bedrooms averaging 1,010 SF and the 3 bedroom averaging 1,197 square feet. The interiors include an array of features such as spacious living areas, faux granite countertops, Energy Star rated Black Appliances, full size washer and dryer, ceiling fans throughout and large patios or balconies.. Top notch amenities including a swimming pool with WiFi, fitness center, volleyball court, and a beautiful children’s playground.Read More >>
Village Park Senior Housing – This 105 unit new construction senior affordable development utilizes 9% housing tax credits and is located in the City of Winter Park in central Florida. This project is a joint venture with Atlantic Housing, LLLP, and completed construction in December 2013. Stabilization and permanent loan conversion occurred in 2014. Interest in this community was sold in June 2015.Read More >>
Little Torch Key is a 48 unit multifamily rental housing community located in Little Torch Key, FL. The development consists of 24 townhouse duplex buildings. All 48 units contain 2 bedrooms, 2.5 bathrooms and a porch. Each unit size is 1,080 sf. The ground floor on each side of the duplex is reserved for covered parking, the second floor has a kitchen, living room, dining room and ½ bath and the top floor has two bedrooms, each of which has its own bathroom.
The duplexes were constructed utilizing a manufactured modular system that is anchored to foundations resting on concrete pilings; they feature impact glass and are designed to absorb a wind load of up to 180 mph, consistent with the most stringent hurricane protection codes in the Florida Keys. The marina has been refurbished, and boat slips are available first for rental to community residents at a discounted rate.
The beach was restored with newly installed sand, and there are two pools for residents. Fourteen of the units are required to be workforce housing units, which are restricted to a maximum rent affordable to households earning 120% of median income in Monroe County.Read More >>
Riverwalk Pointe at Mangrove Bay is one of our newest communities and is currently in lease-up. It is a planned 104 unit Class A luxury multifamily rental housing community developed in the Mangrove Bay PUD (planned unit development) on the west side of US Highway 1, approximately 1 mile south of Indiantown Road, in the Town of Jupiter in northern Palm Beach County. This community serves residents aged 55 and older. The Mangrove Bay PUD is a luxury adult community situated on over 16 acres consisting of 26 attractive one-story duplex villas on the west side, a 157 unit combined assisted living facility and independent living facility in the northwest corner, and Riverwalk Pointe at Mangrove Bay is located on the east side. All three PUD components share access from Mangrove Bay Way, an attractive heavily landscaped entry road, and have access to and views of the Intracoastal Waterway. Mangrove Bay is bordered on the west by the Town of Jupiter’s Riverwalk, a 2.5 mile linear park that extends along the east bank of the Intracoastal Waterway starting south of the site and extending north of Indiantown Road to the southern shore of the Jupiter Inlet; and there is excellent access to it as well as the nearby Jupiter Yacht Club, which offers retail, dining and a marina.
The development plan features two attractive four-story elevator buildings with an additional level of underground structured parking. Riverwalk Pointe at Mangrove Bay was designed with active adults in mind offering, a central clubhouse with a business center and fitness room, as well as an opulent pool and landscaped deck area. The unit mix consists of 18 1BR/1B units, 70 2BR/2B units, and 16 3BR/2B units, and unit sizes range in size from approximately 900 square feet for a 1BR unit to over 1,300 square feet for the 3 BR units.Read More >>
HIGH RIDGE LANDING
BOYNTON BEACH, FLORIDA
High Ridge Landing is a planned 184 unit multifamily rental housing community that will be developed on the northwest corner of High Ridge Road and Miner Road in western Boynton Beach, Palm Beach County, Florida. Boynton Beach is the third largest city in Palm Beach County, which has the largest population among Florida counties after Miami-Dade County (Miami) and Broward County (Fort Lauderdale). The site is ideally located just west of Interstate 95 in the Gateway Boulevard corridor near the Quantum office park, a major employment center in central Palm Beach County.
The development plan calls for 184 garden apartment units in eight residential buildings plus a community clubhouse. The planned unit mix will be 48 one bedroom/one bath units, 112 two bedroom/two bath units, and 24 three bedroom/two bath units. There will be a total of 31 garages. Unit sizes will range from approximately 800 A/C square feet to 1,230 A/C square feet. Virtually all the units will have an enclosed outdoor balcony or patio. Average unit size will be 1,040 sf. Units will feature granite countertops, stainless steel appliances, hurricane protective impact glass and full-size washers and dryers. Monthly rents are projected to range from $1,100 to $1,600 per month. The project is being evaluated for compliance with Florida Green Building Coalition certification standards, and green features will include Energy Star appliances, low-flow showerheads and faucets, low VOC paint, reflective roofing, irrigation recycling and drought resistant landscaping. The community will be anchored by a 4,000 sq. ft. clubhouse that will include the leasing office, community room for functions, fitness center and business center. There will be a pool and deck and a walkway around a scenic lake.
The property’s central location and ready interstate highway access makes for a short commute to West Palm Beach to the north and Delray Beach and Boca Raton to the south. In addition to the Quantum office park, major local employers include Bethesda Memorial Hospital and the 18 local public schools (12 elementary, 4 middle and 2 high schools). High Ridge is located immediately south of the highly-regarded Imagine Charter School, serving Grades K-8, which has a large waiting list. Nearby shopping includes: the Boynton Beach Mall, a 1.2 million sf shopping center anchored by Dillard’s, Macy’s, Sears and JC Penney, with over 140 retail shops and restaurants; the Boynton Town Center “big box” retail center; and Renaissance Commons at Congress Avenue, a mixed-use center featuring office, retail and residential uses. Further west in Boynton Beach are the noted Green Cay Nature Center & Wetlands and the Arthur R. Marshall Loxahatchee National Wildlife Refuge.
High Ridge Landing will be utilizing a construction loan commitment with a mini-perm option that will provide an estimated $19.0 million in financing out of total projected development costs of $26.2 million. Property management will be provided by the Southeast division of Lincoln Property Management Group, Inc., which has provided property management services to Eastwind’s principal on over 30 properties over the past 12 years. Rezoning and site plan approval have been completed, and permit submissions have been made. The property will be held for investment and refinanced at the end of the construction loan term, unless it is sold to a third party after leaseup and stabilization.
Please note: Sonoma Pointe Apartments, Kissimmee, FL –
for leasing information, please call (407) 933-8300
Sonoma Pointe is a planned 216 unit Class A multifamily rental housing community that is currently in lease-up at the northeast corner of Osceola Parkway and John Young Parkway in northern Osceola County, part of the southern tier of the Orlando metropolitan area. Osceola Parkway is the main east-west artery between the Florida Turnpike and Walt Disney World six miles west of the site, while John Young Parkway is one of the main north-south arteries bisecting the Orlando metropolitan area.
Sonoma Pointe consists of 9 buildings and a clubhouse that feature Mission-style architecture that is built on a 13. 5 acre site. There are a total of 216 residential units, consisting of 84 1 BR/1B garden units, 108 2BR/2B garden units, and 24 3BR/2B garden units.
Unit sizes range from about 800 square feet for a 1 BR unit to over 1,300 square feet for certain types of 3 BR units. All units feature 9 ft. ceilings, wood plank flooring, stainless steel appliances, granite countertops, bedroom ceiling fans and a number of energy and water conservation features designed to reduce monthly resident utility bills. There are 35 garages to complement ample surface parking.
There is an over 4,000 sq. ft. community center that includes a community room for property functions, management office, fitness center, business center, and a beautiful community swimming pool and deck area, including an outdoor fireplace and lounge.
There is wifi service throughout the community center and pool area. Architectural services were provided by Forum Architecture and Interior Design of Altamonte Springs, Florida. The general contractor for this project is Summit Contracting Group of Jacksonville, Florida and the property management is provided by the Southeast division of Lincoln Property Management Group, Inc. based in Duluth, Georgia.
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Tarpon Harbour is a planned 106 unit Class A multifamily rental housing community that is being developed in the City of Marathon on the ocean side of the Overseas Highway (U.S. 1) near Mile Marker 51. The Overseas Highway is the main transit corridor between Homestead, 77 miles to the east, and Key West, 50 miles to the west.
The development plan calls for 106 new units that will consist of 53 townhouse duplex buildings. There will be 62 units with two bedrooms and 2.5 baths and 44 units with three bedrooms and 2.5 baths. The ground floor of each duplex will be reserved for covered parking, the second floor will have a kitchen, living room, dining room and 1/2 bathroom; and the top floor will have either two bedrooms or three bedrooms, and two bathrooms. All 106 units will also have a porch, the duplexes will be constructed utilizing a manufactured modular system that will be anchored to foundations resting on concrete pilings; they will feature impact glass and are designed to absorb a wind load of up to 180 mph, consistent with the most stringent hurricane protection codes in the Florida Keys. Boat slips will be available to community residents. There will be a clubhouse and two pools for residents. Sixty-two of the units, consisting of 48 two bedroom units and 14 three bedroom units, will be required to be workforce housing units, restricted to a maximum rent affordable to households earning 120% of median income in Monroe County.
Leasing is slated to begin in January 2016.Read More >>
High Ridge Landing, currently under construction in South Palm Beach County, will consist of 8 buildings and a clubhouse that will feature Key West style architecture that will built on a 8.3 acre site. There will be a total of 184 garden style residential units consisting of, 48 1 BR units, 112 2 BR units and 24 3 BR units. Unit sizes will range from approximately 850 to 1,250 square feet. All units will feature 9 ft. ceilings, wood plank flooring, stainless steel appliances and granite countertops. There will be 30 detached garages available on the site. Amenities will include a 4,000 square foot community center that will contain a management office, fitness center, business center social areas, swimming pool and deck area. Wifi service will be available throughout the amenity area.Read More >>
Monterey Pointe is a planned 150 unit Class A multifamily rental housing community that is being developed on Greenwald Drive near the northeast corner of Osceola Parkway and John Young Parkway in northern Osceola County, part of the southern tier of the Orlando metropolitan area. Osceola Parkway is the main east-west artery between the Florida Turnpike and Walt Disney World eight miles west of the site, while John Young Parkway is one of the main north-south arteries bisecting the Orlando metropolitan area. This community will be age-restricted to households in which at least one member is aged 55 years or older. The Monterey Pointe site is situated immediately south of the prestigious Hunters Creek neighborhood in southern Orlando. Monterey Pointe will be located directly across John Young Parkway from The Loop shopping center. The Loop and adjacent Loop West is a 840,000 sq. ft. regional shopping center featuring over 70 retail outlets anchored by Beall’s, JC Penney, Kohl’s and TJ Maxx stores, big box stores Sports Authority and Bed Bath and Beyond, 15 restaurants including Bonefish Grill and Macaroni Grill, and a 16 theater Regal Cinema. Immediately east of Monterey Pointe is the new Crosslands shopping center, which was recently completed and opened in late 2014. This center exceeds 420,000 sq. ft., features large retailers such as Haverty’s Furniture, Marshalls, Wal-Mart Neighborhood and PetSmart, as well as additional restaurants. Osceola Parkway is an established major retail corridor. Also nearby are a number of medical offices, as well as the global corporate headquarters for Tupperware Brands Corporation.
Monterey Pointe will consist of a single four story elevator building with ample community facilities that will feature Florida Craftsman architecture and be built on a 5.1 acre site. There will be a total of 150 residential units, consisting of 60 1BR/1B garden units and 90 2BR/2B garden units. Unit sizes will range from 740 square feet for a 1BR unit to over 1,020 square feet for certain types of 2 BR units. All units will feature 9 ft. ceilings, wood plank flooring, stainless steel appliances, granite countertops, bedroom ceiling fans and energy and water conservation features designed to lower monthly resident utility bills. There will also be a common area with a community room for property functions, concierge service, management office, fitness center, business center, resident dining area, garden courtyard and a spacious and attractive community swimming pool and deck area. There will be wifi service throughout the common and pool areas. Architectural and engineering services are being provided by Forum Architecture of Altamonte Springs and Harris Civil Engineers of Orlando.
Monterey Pointe has received all major development entitlements, and final site plan approval was received in March 2015. Building permits will be issued in June 2015. Construction is expected to be complete by July 2016, with the completion of leaseup projected for the summer of 2017. Total development costs are projected to be $20.1 million, with an anticipated construction loan amount of $14.5 million. The general contractor, Summit Contracting Group, Inc., will provide a guaranteed stipulated sum contract. Property management will be provided by the Southeast division of Lincoln Property Management Group, Inc., based in Duluth, Georgia, which has provided property management services to the principal of Eastwind on over 30 multifamily properties over the past dozen years.
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