Photo: Waypoint Residential
Waypoint Residential Acquires Land for Five Development Projects in Florida and Texas
Since the beginning of 2021, Waypoint Residential, LLC, through several subsidiaries, has acquired land for the development of five conventional multifamily projects in Texas and Florida, intended to include more than 1,350 units with a total capitalization surpassing $240 million. Each project will be a fully-amenitized, Class A community with top-of-market interior finishes.
The project located in Boerne, Texas, is approximately 30 miles north of San Antonio. This 288-unit Class A, garden-style community will sit on a 15.5-acre parcel within the 70-acre master planned development known as The Commons at Menger Creek and will offer an affordable component.
The four Florida projects are located in Gainesville, Orlando, Stuart, and Palm Bay.
In Gainesville, Waypoint is planning to develop a 235-unit Class A, garden-style community located on SW 20th Avenue. The property is proximate to numerous retail and entertainment options and only seven miles from The University of Florida.
The Lake Wilson project is located approximately 25 miles south of downtown Orlando. This 312-unit Class A, garden-style community is proximate to Interstate 4, Highway 27, and Ronald Regan Parkway, providing convenient access to employers and entertainment.
The Stuart project will include 270 Class A units in a garden-style community located directly off US-1.
Palm Bay is located in the core of Florida’s “Space Coast”. The project will include 252 units in a Class A, garden-style community that is within 25 minutes of some the area’s most notable employers including L3Harris, Northrop Grumman, Lockheed Martin, and Health First.
About Waypoint Residential
Waypoint Residential, LLC (“Waypoint”) is a vertically integrated real estate investment firm specializing in the rental housing sector. Founded in 2011 and with four offices nationwide, the firm acquires, develops, operates, and finances multifamily rental properties throughout the United States, with a focus on the Sunbelt region. Waypoint’s investment activity exceeds $4.5 billion across more than 28,000 units.