Waypoint Residential to develop multifamily properties worth $325m

US multifamily properties

Real estate investment firm Waypoint Residential, LLC will develop six multifamily property projects worth $325 million. These investments include expanding into the Northeastern and Western United States with projects in Hackensack, New Jersey and Denver, Colorado.

Recent Waypoint multifamily developments include:

• The Walcott Denver, a 122-unit multifamily project in Denver, CO. Located in the popular Jefferson Park neighborhood, Waypoint broke ground on the project in October 2018 and expects to complete construction in 2020.

• The Walcott Hackensack, a 235-unit multifamily development in Hackensack, NJ that broke ground in early December 2018 and is slated for completion in 2020. Located on a highly desirable core urban infill site in Hackensack’s rapidly revitalizing downtown, The Walcott Hackensack is a luxury, transit-oriented development just blocks away from a New Jersey transit station and a bus stop with service to Manhattan.

• The Walcott Jeffersonville, a 214-unit apartment community in Jeffersonville, Indiana’s Old Jeffersonville Historic District opportunity zone on the Indiana side of the Ohio River immediately across from Louisville. Construction is targeted for completion in mid-2020.

• Volaris Live Oak in Sarasota, FL, which is Waypoint’s second property in the area, is a 300-unit project consisting of 6 four-story luxury, elevator buildings centered around a clubhouse, fitness center and other amenities. Construction began in November 2017, and leasing commenced in January 2019. Volaris Live Oak is located approximately five miles east of downtown Sarasota, near the 880,000 square-foot University Town Center Mall.

• Volaris Starkey Ranch in Tampa, FL is a 384-unit “traditional neighborhood development” style apartment project with a combination of two-, three- and four-story buildings, as well as a large clubhouse, fitness center and resort-style pool. Volaris Starkey Ranch is the only rental project in the Starkey Ranch masterplanned community. Construction began in November 2017, and leasing commenced in January 2019.

Source: Waypoint Residential

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