ORLANDO, FL – Mission Rock Residential, a Denver-based national property management company, has recently acquired a new management deal for the Regatta at Universal Apartment Homes. Mission Rock Residential was selected by the property’s new owners, an affiliate of Treeline Real Estate Partners LLC, to manage the 310-unit apartment home community.
Regatta at Universal is located near Universal Studios, southwest of the Orlando metro area. In addition to being conveniently located near Orlando’s most popular attractions, these pet-friendly, one- and two-bedroom apartment homes feature a home-like retreat feel with wood-style flooring, granite countertops, relaxing garden tubs, and private patios.
“We have truly enjoyed our growing relationship with Treeline Real Estate Partners, and we are excited to bring this proven partnership to the residents of the Regatta at Universal community,” said Meredith Wright, President of Mission Rock Residential.
The greenery-filled, gated community features a resort-inspired pool with an outdoor lounge, creating an atmosphere perfectly suited to the Florida environment. The apartment community offers detached garages, extra storage spaces, and guest suite rentals. Residents at the community also benefit from expanded lifestyle amenities like a game room, a coffee bar, and a 24-hour fitness center with a separate yoga room.
Orlando is known for its amusement parks, as it’s home to Disney World, Universal Studios, Sea World, and many more attractions. It’s also home to many corporations, which brings Orlando to the number two city in the country for job growth. Largely a town of renters, over 65% of the population currently living in the city occupy a rented space. These numbers are predicted to continuously increase, as Orlando’s population has increased by 25% in recent years, making it one of the top 5 fastest-growing cities in the country.
Category Archives: Hard Money Loans
Toll Brothers Apartment Living Tops Out New 344-Unit Luxury High-Rise Community in Philadelphia’s Callowhill Neighborhood
PHILADELPHIA, PA – Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation s leading builder of luxury homes, along with joint venture partner Sundance Bay, and general contractor Clemens Construction Company, have topped out Broad & Noble, a new 18-story, 344-unit luxury mixed-use apartment community in Philadelphia, Pennsylvania.
Toll Brothers Apartment Living recently hosted a topping-out celebration at the property for its development partners, construction workers, and local officials. Broad & Noble s construction started in July 2021 and initial occupancy is anticipated in summer 2023. The project is being financed through a $100.2 million construction loan facility from Wells Fargo. The debt and equity were arranged by Toll Brothers in-house Finance Department. Toll Brothers Apartment Living will manage the development, marketing, and property management.
Toll Brothers Apartment Living is thrilled to develop Broad & Noble, our first luxury apartment community in Philadelphia, said Charles Elliott, President of Toll Brothers Apartment Living. We have developed for-sale residential communities here for decades, but Broad & Noble will be our first high-rise apartment community in the heart of the region where Toll Brothers was founded 55 years ago.
Designed by Barton Partners, a Philadelphia-based integrated design firm, Broad & Noble will offer a mix of studio, one-, and two-bedroom floor plans, and 44 penthouses ranging from studios to two bedrooms. The property features an underground access-controlled parking garage with 106 parking spaces, including EV (electric vehicle) charging stations, and bike storage.
Residences at Broad & Noble will feature high-end luxury finishes and more than 13,000 square feet of best-in-class indoor amenities, including a package concierge, a state-of-the-art fitness center, music, media, and podcasting rooms, a conservatory and private dining rooms, a yoga and cycling studio with video classes, a pet spa, a private storage area, a sky lounge with outdoor deck area and views of the Philadelphia skyline, and a landscaped plaza adjacent to 10,440 square feet of ground-floor retail space.
We are excited to partner with Sundance Bay and Wells Fargo on this landmark project for our company, said Bryan Oos, the Northeast Regional Director of Development and Acquisitions for Toll Brothers Apartment Living. We are also proud that Broad & Noble will introduce the elevated resident living experience we are known for nationwide to this energetic and evolving neighborhood.
Sundance Bay is looking forward to delivering this project to meet the needs of this rapidly growing and vibrant community, said Ryan Baughman, Partner and Senior Managing Director of Sundance Bay. We are grateful to be involved with such high-quality partners and have full confidence in Toll Brothers managing the project through successful completion.
Located at 435 N. Broad Street in the Loft District of the eclectic Callowhill neighborhood, Broad & Noble is situated on a one-acre site in the heart of the North Philadelphia submarket. Just a 10-minute walk to Philadelphia s City Hall and the Center City financial corridor, Broad & Noble is located only a few blocks from Spring Garden Station and the entrance of Philadelphia s Rail Park. With a WalkScore of 95 and a TransitScore of 100, Broad & Noble residents will enjoy convenient access to several award-winning restaurants and breweries, specialty grocers Whole Foods and Trader Joe s, upscale retail on Walnut and Chestnut Streets, and cultural arts destinations such as The Met Philadelphia. Located in an Opportunity Zone, Broad & Noble is one of several projects Toll Brothers Apartment Living is developing in Opportunity Zones nationwide.
In addition to its luxury apartment residences coming to Broad & Noble, Toll Brothers Apartment Living s Parc community is in nearby Plymouth Meeting. The community offers one- and two-bedroom apartments and features an 11,000 square foot clubhouse, luxurious amenities, and easy access to Interstate 476, Interstate 276, and Philadelphia. Toll Brothers Apartment Living is headquartered in nearby Fort Washington, Pennsylvania.
FCP and Avanti Residential Complete $65 Million Acquisition of 382-Unit Omnia on Thomas Apartment Community in Phoenix
PHOENIX, AZ – FCP and joint venture partner Avanti Residential announced the $65 million acquisition of Omnia on Thomas, a 382-unit garden apartment community at 1645 E. Thomas Road in Phoenix, AZ. Omnia on Thomas represents FCP’s third multifamily investment in Phoenix and the second time partnering with Avanti after an initial joint venture in Colorado earlier this year.
“FCP is excited to expand our successful partnership with Avanti at Omnia on Thomas,” said FCP’s Bart Hurlbut. “Together, we will continue to invest in the property to improve the resident experience and the asset’s market position.”
“We are pleased to partner with FCP on this project and leverage our knowledge of the property and the local submarket,” said Christian Garner, CEO at Avanti Residential. “We view this as a unique opportunity to infuse new capital into the project and further enhance the resident experience at Omnia on Thomas.”
Capital One arranged Freddie Mac financing for the acquisition. “In continuing our relationship with FCP, we look forward to supporting this team as they focus on expanding their multifamily footprint in the Western U.S.,” said Jonathan Pratt, Senior Vice President of Agency Finance.
Omnia on Thomas features studio, one- and two-bedroom apartments featuring high ceilings, hardwood-style flooring, and large closets in a community with four swimming pools, a renovated fitness center, and a shady courtyard. The property is conveniently located adjacent to Phoenix Children’s Hospital, minutes to Sky Harbor Airport, the Biltmore Camelback Corridor, and Old Town Scottsdale with abundant local dining and shopping options.
Carter Multifamily Expands Footprint with Acquisition of 252-Unit Astoria Apartment Community Located in Mobile, Alabama
MOBILE, AL – Carter Multifamily announced its acquisition of Astoria Apartments, a 252-unit community on Grelot Road in Mobile, Alabama. Built in 2001 and spanning 293,892 rentable square feet, Astoria offers well-designed one, two, and three-bedroom apartment homes.
The property is located in the Mobile Bay region, an outstanding location for residents given its access to downtown Mobile, employment drivers, and quality retail. The region is Alabama’s second largest metro area and a strong manufacturing hub with close proximity to the Port of Mobile and excellent connectivity to large rail, water, and interstate transportation systems. According to RealPage, over the past five years, the Mobile/Daphne market has experienced rent growth, limited new supply, and a healthy average apartment occupancy of 95.5%.
“We’re excited to continue to grow our footprint in a market supported by high growth fundamentals, favorable renter demographics, and limited new supply. We believe that Mobile will continue to fuel demand growth for high-quality, affordable multifamily housing and that Astoria will be a valuable addition to our real estate portfolio,” said Ray Hutchinson, chief investment officer of Carter Multifamily.
Property amenities include: a saltwater swimming pool with an outdoor kitchen, resident lounge with billiards, foosball and a coffee bar, and a remodeled clubhouse and wellness center. Carter Multifamily intends to execute a value-add strategy which will include operational improvements, upgrades to community amenities, interior unit renovations, and exterior plant improvements.
Northwood Investors Acquires Fifth + Broadway Mixed-Use Development Featuring 381-Unit The Place Residences in Downtown Nashville
NASHVILLE, TN – Global real estate investment firm Northwood Investors announced its acquisition of Fifth + Broadway, a newly developed 6.2-acre mixed-use, open-air center. The property was developed and operated by Brookfield Properties, which completed construction in 2021. Northwood has purchased the property in its entirety, including its retail district, 501 Commerce office tower and The Place esidences, from a subsidiary of Brookfield.
As Northwood expands its footprint in Nashville with this prized entertainment complex, it looks forward to furthering Brookfield’s vision for the center. Northwood is well-positioned to take the reins in managing the project with its vertically integrated platforms and experience with retail and mixed-use assets. Most of Fifth + Broadway’s management team have transitioned to Northwood and will continue in their existing roles, bringing their strong local experience and knowledge to the property.
Northwood is already deeply involved in the Nashville market; this latest acquisition marks the fifth asset the firm has invested in within the city. Other properties include The Conrad hotel, Capital View apartments, the McEwen Northside mixed-use center and Franklin Park office towers.
“We feel that Fifth + Broadway’s energy and integration in the heart of downtown is unparalleled,” said Managing Director of Northwood Investors Erin Cannata. “As a mixed-use asset, all its elements work together cohesively, and Brookfield has done a phenomenal job with its development. Our Northwood management team is excited to carry on the torch, engage with the city, and partner with tenants like The National Museum of African American Music, Alliance Bernstein, The Twelve Thirty Club, Assembly Food Hall and more.”
Centrally located within Nashville’s vibrant urban core, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state of Tennessee. The revolutionary downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically selected retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce, 381 residential units at The Place at Fifth + Broadway and more than 2,000 parking spaces. The project, which sees nearly five million annual visitors, was built for a post-COVID-19 world with outdoor space, accessibility, safety and parking in mind.
“We feel Nashville is a high-growth market, and one that we have been watching since 2011,” said President of Northwood Retail Ward Kampf. “It’s an ‘it’ city for business and entertainment and Fifth + Broadway epitomizes Nashville– a world-class, generational asset that draws locals and tourists alike. We believe the attention to detail, aesthetics and connectivity are unmatched, making it a transformative catalyst for the fabric of lower Broadway.”
Northwood is committed to the city of Nashville, which it values for its diversified economy, one-of-a-kind cultural authenticity, attractive cost of living, and premier talent base, which has transformed the city into a 24/7 destination. The firm looks forward to collaborating with the city, its retail and office tenants, and the National Museum for African American Music as it evolves this asset, which is seamlessly integrated into the streetscape and cultural heart of Downtown Nashville.
“Fifth + Broadway is a thriving mixed-use complex, and we are very proud of its development and success as a major destination in and economic driver for Nashville,” said Burgin Dossett, vice president of development for Brookfield Properties. “While Brookfield has successfully recapitalized the asset in line with its overall investment strategy, we remain very interested in Nashville and excited about its future.”
TGM Acquires Fourth Multifamily Community in Virginia with Purchase of TGM Moorefield Apartments in Ashburn Neighborhood
ASHBURN, VA – TGM announced the acquisition of TGM Moorefield, a garden and mid-rise style community with 413 apartment units and 30,000 square feet of retail in the Moorefield Station neighborhood of Ashburn, VA.
The community is minutes from the newly opened Ashburn Silver Line Metro station connecting this transit-oriented location to Dulles Airport, Reston, Herndon, Tysons & the heart of Washington D.C.TGM Moorefield, located in Loudon County was completed in 2009 and is sited on approximately 15 acres just north of Loudon County Parkway with its leasing office and clubhouse at 22555 Leanne Terrace. The property is on the southwest side of the Dulles Greenway (Rt. 267) and is bordered to the northeast by Ashburn proper, to the northwest and west by Brambleton and to the south by Loudoun Valley Estates.
Ashburn boasts an excellent live-work-play location as evidenced by its 2021 ranking as No. 5 on Money Magazines 50 Best Places to Live in the United States. The area has extensive parks, biking and walking trails and access to numerous outdoor recreational activities. The Ashburn public school system is highly ranked and the property is within walking distance of Moorefield Station Elementary School. Employment opportunities are abundant within the proximate and expanding Dulles Technology Corridor and Data Center Alley. TGM Moorefield is also near the regions other major employment centers including Dulles Airport, Reston, Herndon, Tysons, and Fairfax.
The design, layout and construction of the apartments are excellent with studio, one- two- and three-bedroom apartments. TGM will be renovating all apartment interiors with new kitchen cabinets, countertops, appliances, flooring, lighting, and hardware fixtures. Bathrooms will be renovated to match the finishes of the kitchen. Community amenities include a swimming pool with sundeck, landscaped courtyard with grilling areas, dog park, 24-hour fitness center, yoga studio, entertainment and game room and an outdoor veranda with lounge seating.
“TGM Moorefield presents a great opportunity to continue TGM’s expansion in the Northern Virginia region. The community boasts an outstanding location in the Moorefield Station neighborhood minutes from the newly opened Ashburn Silver Line Metro station. Ashburn and Loudon County are some of the top-ranked business communities in the United States with some of the most educated labor pools. The area continues to attract residents who are drawn to the abundant lifestyle conveniences and the overall high quality of living, said Zach Goldman, Managing Principal and Chief Operating Officer for TGM.
TGM Moorefield is managed by TGMs’ property management company, TGM Communities. Also owned and managed by TGM in the Maryland/Northern Virginia region are TGM Bull Run (Manassas, VA), TGM Ridge (Manassas, VA), TGM Sudley Crossing (Manassas, VA), TGM Odenton (Odenton, MD), and TGM Creekside Village (Glen Burnie, MD).
TGM Moorefield was marketed by Walter Coker and Brian Crivella of Berkadia Real Estate Advisors.
JVM Realty Completes Acquisition of 240-Unit Luxury Apartment Community in Southwest Chicago Submarket of Romeoville, Illinois
CHICAGO, IL – JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm, announced it has acquired Seasons at Romeoville, a 240-unit luxury apartment community in the Chicago suburb of Romeoville, from Fiduciary Real Estate Development, Inc. JVM will rename the apartment community to The Bluffs.
“We are thrilled to add another best-in-class investment opportunity to our growing portfolio,” said Jay Madary, president and CEO of JVM Realty Corp. “The combination of luxury, style and convenience this property provides, along with JVM’s award-winning management team delivering a superior resident experience, positions the property to perform at a high level for years to come.”
Located at 501 S. Weber Road in the family-friendly village of Romeoville, The Bluffs was built in 2021 and offers layouts ranging from junior one-bedrooms to three-bedroom, two-bathroom apartment homes. Residents enjoy spacious units with private direct entries, designer-inspired contemporary finishes including stainless steel appliances, quartz countertops, plank-style flooring, walk-in closets, luxurious spa bathrooms with glass shower enclosures and full-size washers and dryers. Many apartment homes come with an attached garage and private patio or balcony.
Expansive community amenities complete the 21-acre site with a fully equipped 24-hour fitness center, clubhouse with caterer’s kitchen, a pool with sundeck, an outdoor living room with grilling stations and a fireplace and a dog park and pet washing area.
The property is in Will County, 45 minutes southwest from downtown Chicago and provides residents with immediate access to I-55 and I-80 industrial and job corridors as well as a multitude of dining, shopping and entertainment options. Will County’s employment base has expanded considerably over the past decade and continues to grow at a rate well above the state and national average with three state-ranked hospitals and notable employers including Amazon, Wayfair, FedEx, WeatherTech and Lewis University.
Fiduciary Real Estate Development has been an active seller this year. “We picked JVM as a buyer as we recently concluded a prior transaction with them with one of our Wisconsin properties,” said Steve Bersell, Chief Operating Officer of Fiduciary Real Estate Development. “Like our prior transaction with JVM, the Romeoville transaction went smoothly from offer to closing.”
The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Director Wick Kirby, Director Amanda Friant and Senior Director Kevin Girard.
“We are very thankful for the opportunity to work with Fiduciary on the disposition of this brand-new, best-in-class property in fast-growing Romeoville,” said Wick Kirby of JLL. “It was a pleasure to work with the JVM team and we have no doubt they will have great success with this fantastic acquisition.”
With this latest acquisition, JVM now owns and manages seven apartment communities in Illinois and 22 communities representing $1.6 billion in assets under management throughout the Midwest.
Centennial Yards Company Breaks Ground on Ambitious $5 Billion Mixed-Use Development to Transform Downtown Atlanta Landscape
ATLANTA, GA – Centennial Yards Company announced the groundbreaking of Centennial Yards, one of the largest and most ambitious city-center developments in the United States. Atlanta Mayor Andre Dickens joined Atlanta Hawks owner Tony Ressler, CIM Group Co-Founder and Principal Richard Ressler, Grant Hill, Vice Chair of Atlanta Hawks, and Michael Russell, CEO of H.J. Russell and Company, to celebrate the start of new construction at Centennial Yards. The $5 billion 50-acre development is located at the site where Atlanta was founded, and is expected to contain 8 million square feet at full completion, with 4 million square feet of new residential buildings and 4 million square feet of commercial buildings, including new office, retail, restaurants, and hotels.
Construction commenced today on the first two ground-up high-rise buildings, an 18-story full-service boutique hotel named Anthem, and an 18-story residential tower, located adjacent to Mercedes-Benz Stadium and State Farm Arena. Both towers, designed by award-winning Atlanta-based architecture firms Goode Van Slyke Architects (GVSA) and TVS Architecture + Design, are slated to be complete in 2025. Mayor Dickens and the development team were joined by Steve Koonin, CEO of Atlanta Hawks and State Farm Arena, John Hope Bryant, entrepreneur and founder of Operation Hope, Steve Smith, NBA Champion and NBA TV studio analyst, and Ambassador Andrew Young.
“This is a historic day for Centennial Yards, CIM Group, our partners, and for Atlanta, and we are delighted that the project is taking such a major step forward, only a year after securing our development agreement with the city,” said Centennial Yards Company President Brian McGowan. “Centennial Yards is one of the most ambitious developments in the country and today’s groundbreaking on the first ground-up towers not only marks an extraordinary day in Atlantahistory but also the celebration of our shared vision for a vibrant Downtown coming to life.”
Centennial Yards’ commitment to the City of Atlanta will ensure that the new live-work-play neighborhood will be built by and for Atlantans. The overall development delivers: 20% affordable housing for 99 years. 8% goal of minority and female owned business participation in the project including design, development and property management. 25% of entry-level construction jobs at Centennial Yards — and 10% of all construction jobs — are targeted for workers from around Downtown Atlanta, with hundreds of jobs for the 2 buildings breaking ground.
“With the development of Centennial Yards, we have an opportunity to further revitalize Downtown while bridging the gap between the east and westsides of our city,” said Mayor Andre Dickens. “This project is uniquely Atlanta—bringing the public, private and non-profit sectors together to dream big and execute a plan in a thoughtful and deliberate manner.”
“We are one step closer to creating an incredible experience for our fans, and a world-class new neighborhood for all Atlantans to live, work, and play,” said Grant Hill, Vice Chair of the Atlanta Hawks. “I’m proud to be part of the group led by Tony Ressler that is supporting the project’s work to provide affordable housing for the Atlanta community and empower minority- and women-led businesses to grow. Together, we have committed millions of equity dollars as well as our focus, energy, time and resources to make Centennial Yards and Downtown Atlanta a model for other cities.”
With an overall site plan designed by a global team led by world-renowned architecture firms Foster + Partners and Perkins&Will, Centennial Yards is a $5 billion mixed-use destination in the Southeast’s biggest, most influential market. The 50-acre site, formerly known as “The Gulch,” is expected to offer 8 million square feet of world-class new commercial and residential space comprised of 4 million square feet of dynamic retail, entertainment, modern office, and hotel, and 4 million square feet of new residential, as well as a vibrant public realm that will provide outdoor gathering spaces to all Atlantans and visitors of Centennial Yards.
Anthem, an 18-story full-service boutique hotel, will feature spacious guest rooms averaging over 400 square feet, pool deck with bar and event room with capacity for large events, 8,000+ square-foot ballroom with views overlooking Centennial Yards, and a rooftop restaurant and bar with views overlooking Downtown Atlanta. Nearby, an 18-story amenity-rich residential tower will offer apartments ranging from studios to 3 bedrooms, with interior design by TVS Architecture + Design. In addition to the residential offering, the building will feature a pool with event lawn and grilling stations, on-site co-working space, dog run, fitness center with state-of-the-art Technogym equipment, and multiple residential lounges.
Located in the Southeast’s home to a thriving film and TV production community that has led to Atlanta’s nickname as the “Hollywood of the South” and expanding corporate campuses from tech giants like Microsoft and Google, Centennial Yards will link surrounding historic neighborhoods that have been disconnected by industrial infrastructure for decades. Anchored by the Atlanta Hawks’ State Farm Arena and Mercedes-Benz Stadium—home to the Atlanta Falcons and Atlanta United, and bordered by multiple MARTA heavy rail stations, Centennial Yards will fill a literal hole in the heart of the city. Drawing nearly 18 million yearly visitors, Downtown Atlanta is also home to major attractions including the Georgia Aquarium, World of Coca-Cola, the National Center for Civil and Human Rights, and Georgia World Congress Center, one of the country’s top convention centers. Centennial Yards is also expected to be the center of gravity for experiencing the recently announced 2026 FIFA World Cup in Atlanta.
Hamilton Zanze Expands Arizona Footprint with Acquisition of 248-Unit Crestone at Shadow Mountain Apartment Community in Phoenix
PHOENIX, AZ – San Francisco-based real estate investment firm Hamilton Zanze is excited to announce the purchase of Crestone at Shadow Mountain, the firm’s 25th acquisition in the state of Arizona. The company closed the deal on the 248-unit apartment property on November 15, 2022. CBRE’s Sean Cunningham, Asher Gunter, Matt Pesch, and Austin Groen of Phoenix Multifamily Institutional Properties represented the seller.
Crestone at Shadow Mountain is a garden-style community built in 1992 on 14.83 acres. The property was 96.77% occupied at purchase and is comprised of a single-story central clubhouse and 16 two-story residential buildings. These units range from 624 square feet to 1,147 square feet. The community includes several upscale amenities such as a two swimming pools with spas and poolside ramadas, complete fitness center, business center, dog park, tennis court, and picnic areas with barbecues, and many others. Unit amenities include full-sized washers and dryers, wood-style flooring, walk-in closets, stainless steel appliances, private patios and balconies, and more.
“We are excited to further expand our presence in Phoenix with the purchase of Crestone at Shadow Mountain,” said David Nelson, Hamilton Zanze’s chief investment officer. “The 1992-vintage, garden-style asset features institutional quality amenities, ideal location in the supply constrained Northeast Phoenix submarket, in convenient proximity to Paradise Valley Mall and Old Town Scottsdale, and access to the largest employers in North Phoenix, like Taiwan Semiconductors, USAA, Discover Financial, Honeywell, Cigna, Cox Communications, Mayo Clinic, and Merrill Lynch. This property is in a strong position due to its stable, high-income tenant base, supply-constrained location, and extremely competitive amenity and interior package. Crestone at Shadow Mountain will be an asset to the local community for years to come, and we at Hamilton Zanze are proud to be a part of it.”
The property is located at 2022 East Thunderbird Road in Phoenix. It is conveniently located just off Arizona State Route 51, providing access to Deer Valley along the I-17 Corridor, one of the submarket’s most robust and durable group of Fortune 500 companies. The property is also in close proximity to Old Town Scottsdale. Residents can make a short 20-minute drive southeast to enjoy many four and five-star restaurants in the neighborhood.
Vista Residential Partners Announces Groundbreaking on 300-Unit Riverchase Vista Apartment Community in Savannah, Georgia
SAVANNAH, GA – Vista Residential Partners, a national multifamily development firm, has broken ground on 15 acres on Chatham Center Drive in Savannah, Georgia, for the development of Riverchase Vista, a 300-unit multifamily development. Vista has partnered with the strategic real estate development investment firm Batson Cook Development Company to construct the project. This will be Vista and BCDC’s third development project together.
Located on Chatham Center Drive, Riverchase Vista is part of a master planned mixed use development that will be neighbored by a Class A hotel, restaurants, and retailers. The development will sit within Chatham Center, one of the first business parks of its kind, concentrated around a 43-acre lake with a walking and jogging path. Riverchase Vista will welcome residents in early 2024.
Riverchase Vista is conveniently located to Interstate 16 and minutes from Downtown Savannah, Interstate 95, and various job centers throughout the metro. The Port of Savannah, home to the largest single-terminal container facility of its kind in North America, continue to be a major source of economic growth for the city. With $106 billion in sales, over five planned expansion projects, and additional capital improvements approved, the Port of Savannah continues to be an economic powerhouse fostering growth statewide.
South Korean automaker Hyundai recently announced their $5.5 billion investment to build a new manufacturing facility nearby. The site, which will be complete in 2025, will employ 8,100 workers between an electric vehicle assembly plant and an adjacent EV battery factory, making it the largest single economic development project in Georgia history.
Amazon is close to completing a 640,000 SF fulfillment center that will create 1,000 new full-time jobs. The new facility is located within the Savannah Megasite off I-16 and will be Amazon’s third location in the Savannah area.
“What a remarkable location. Riverchase Vista has great pedestrian and vehicular access, proximate to neighborhood amenities and greenspace and the Vista team always does a fantastic job with design,” says Litt Glover, President and CEO of BCDC. We’re proud to be part of the team working to deliver something special.”
The community will offer a mix of one-, two-, and three-bedroom apartment homes averaging almost 1,000 square feet. Designed by architect Niles Bolton, the garden style apartments will feature stainless steel appliances, 9-foot ceilings, vinyl plank flooring, in-unit washers and dryers, and spacious floorplans. Riverchase Vista will also features a luxury clubhouse, resort style pool, fitness center, a large pet park, 24/7 package concierge, and more.
“The Savannah metro region is an economic star, with a broad foundation for continuing robust growth in the near term,” says Michael Neyhart, Managing Director of Vista Residential Partners. “Its GDP has grown by nearly 50% over the last decade, a by-product of its deep-water port, the 3rd busiest container port in the U.S., and the fastest growing seaport by container volume in the past 10 years.”