Waypoint Residential begins work on new schemes worth $325m in US

WCN Editorial Team 20 Feb 2019 NORTH AMERICA BUILDINGS

Waypoint Residential, an integrated real estate investment firm that focuses on the US rental housing sector, has commenced work on six projects for a total investment of more than $325m.

These investments include projects in Hackensack in New Jersey and Denver in Colorado, expanding the company’s operations into the northeastern and western US.

Waypoint has also launched its Walcott and Volaris properties, which are designed to offer luxury multifamily living with high-end finishes and amenities.

Walcott is designed for urban areas and current projects include Denver, Colorado, Hackensack in New Jersey and Jeffersonville, Indiana.

Volaris projects cater to suburban communities and the first locations will be Tampa and Sarasota in Florida.

The company’s recent developments include Walcott Denver, a 122-unit multifamily project in Denver, Colorado; Walcott Hackensack, a 235-unit multifamily development in Hackensack, New Jersey; and Walcott Jeffersonville, a 214-unit apartment community in Jeffersonville, Indiana.

The company broke ground on Walcott Denver in October 2018 and expects to complete construction in 2020. It offers high-end amenities within walking distance to restaurants, boutiques, nightlife and an RTD rail station, as well as automobile access to downtown Denver, Interstate 70 and Interstate 25.

Construction on Walcott Hackensack began in December 2018 and is slated for completion in 2020. It is a luxury, transit-oriented development located a few blocks away from a New Jersey transit station and a bus stop with service to Manhattan.

The Walcott Jeffersonville is located in Old Jeffersonville Historic District opportunity zone on the Indiana side of the Ohio River. In addition to luxury amenities, the Walcott Jeffersonville will provide access to Louisville’s employment, recreation and entertainment options.

Construction is targeted for completion in mid-2020.

Waypoint’s other projects include Volaris Live Oak, a 300-unit project consisting of six four-storey luxury, elevator buildings centred around a clubhouse, fitness centre and other amenities, in Sarasota, Florida.

This is the company’s second property in the area. 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 880,000ft² University Town Center Mall.

Volaris Starkey Ranch in Tampa, Florida, is a 384-unit traditional neighbourhood development style apartment project.

It offers a combination of two-, three- and four-storey buildings, a large clubhouse, fitness centre and resort-style pool.

This is the only rental project in the Starkey Ranch master-planned community. Construction began in November 2017 and leasing commenced in January 2019.

Estraya Georgetown is a 270-unit, Class A apartment community with a grand clubhouse and a resort-style pool on more than 15 acres in Georgetown, Texas, 25 miles north of downtown Austin.

The ground-breaking took place in December 2017 and pre-leasing is expected to begin in mid-2019.

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Image: Rendering of The Walcott in Denver, Colorado. Photo: Courtesy of Waypoint Residential, LLC / Business Wire.

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