Wood Partners Announces New Development in Greater Tampa
MAGNOLIA PARK, Fla.–(BUSINESS WIRE)–Wood Partners, a national leader in real estate development and acquisition, announced today that it had closed earlier this month on a 19.32-acre site in thriving southern Hillsborough County where a new luxury apartment community is currently under construction by the developer. Located within the Magnolia Park Planned Development, Alta at Magnolia Park is conveniently located in close proximity to a variety of retail, entertainment and recreation destinations, as well as access to the area’s major employment centers via nearby access to transportation arteries.
“The Brandon/Riverview submarket has experienced rapid growth as of late, and we believe Alta at Magnolia Park is well-positioned to build upon that momentum,” said Wood Partners’ North Florida Development Director Bryan Borland. “This submarket is unique in that it offers immediate access to a wealth of desirable amenities at a great value, making it an attractive option for young professionals, families and empty-nesters.”
Alta at Magnolia Park will include a total of 292 one-, two- and three-bedroom units in a garden-style setting. With an average unit size of 980 square feet, the residences are generously sized and will feature high-end finishes, including granite countertops, stainless steel appliances, island kitchens and vinyl plank flooring in all kitchens, bathrooms and living areas. The modern design also boasts a clubhouse integrated into a four-story, manor-style building which will include a cyber café, sports lounge, game room with billiards and kitchen/bar seating, and a fitness center. Outdoor amenities will include a resort-style pool with covered outdoor grilling and seating areas, an expansive dog park and game lawn.
“As we strive to do with all of our developments, our team has collaborated to design a distinctive and inviting community which will serve the needs of an increasingly selective renter,” said Borland. “Alta at Magnolia Park will offer our residents a luxury alternative in a suburban setting, with all the benefits of downtown Tampa available within a 10-minute drive.”
With convenient access to the Lee Roy Selmon Crosstown Expressway via nearby I-75, the site offers easy access to downtown Tampa, as well as a variety of retail destinations in nearby Brandon, including a 1.1 million-square-foot regional shopping mall and numerous other big box retail stores.
The new community aims to serve a rapidly-growing workforce population in the Tampa area, including USAA’s new campus located less than five miles away, which is slated to add up to 1,215 jobs by 2019.
Construction is currently underway. The first units will be available for occupancy in late 2016, and construction is expected to be completed in summer 2017.