Waypoint Residential to develop new multifamily property in Indiana, US

WCN Editorial Team 25 Jan 2019 NORTH AMERICA BUILDINGS

Waypoint Residential, a US-based real estate investment management firm, has unveiled plans to develop a multifamily property, dubbed Walcott Jeffersonville, in Jeffersonville, Indiana.

To be located in the Old Jeffersonville Historic District opportunity zone, the 214-unit, Class A development will feature a mix of studio, one- and two-bedroom units.

The residential development will be located in Historic Downtown Jeffersonville directly across the street from the Big 4 Station Park. It will benefit from the on-going revitalisation of Jeffersonville’s downtown and waterfront, which includes new restaurants, bars, boutiques and the Riverfront floating amphitheatre.

Furthermore, the Big Four Bridge offers easy access to the Kentucky Center for the Performing Arts and the hot NuLu and Butchertown neighbourhoods across the river in Louisville, Kentucky.

Waypoint Residential CEO Scott Lawlor said: “The Walcott Jeffersonville is our second investment in the greater Louisville MSA, and our first in Jeffersonville.

“The City of Jeffersonville’s revitalization strategy, in the broader context of a diverse and growing economy in the MSA, presented a compelling investment opportunity. It is a deal we had under contract before the opportunity zone designation, which is an added benefit.”

The project will also include luxury amenities, such as a resort-style pool and a fitness centre, an Internet café, an indoor-outdoor rooftop terrace overlooking the park and river, an automated parcel system and a pet spa.

Waypoint Residential chief development officer Eric Hade said: “The Walcott Jeffersonville is ideally located in the heart of the revitalization of Historic Jeffersonville with doorstep access to the dynamic, emerging live-work-play environment on the Indiana side of the Ohio River, while providing convenient access to the employment, recreational and entertainment options across the river in Louisville.

“The Walcott will provide a ‘best of both worlds’ luxury housing solution in what we feel is one of the most exciting areas along the Ohio Riverfront.”

Construction of the project is targeted for completion in mid-2020.

With six offices across the US, Waypoint Residential acquires and develops conventional multifamily, student housing and senior housing properties throughout the nation.

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Image: The Walcott Jeffersonville is Waypoint Residential's first investment in Jeffersonville, Indiana. Photo: Courtesy of Business Wire.

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