NRP Group Commences 312-Unit Florida Community
The project will take shape within a 10,000-acre master-planned development.
The NRP Group has broken ground on a new 312-unit luxury community in Port St. Lucie, Fla. The community is taking shape within the larger 10,000-acre master-planned development, Tradition. Partners on the project include M&T Bank, which provided construction financing.
Delivery on the project is estimated for summer 2028. The 18-acre project will comprise 10 three-story buildings with one-, two- and three-bedroom floorplans ranging from 720 to 1,300 square feet. Group 4 Architecture is leading the design on the asset.
Each apartment will include either a private balcony or a fenced ground-floor yard. Shared amenities will include a fitness center, coworking spaces, a swimming pool, a multipurpose lounge, a walking trail surrounding the on-site lake, as well as outdoor grilling areas and storage facilities.
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The construction site is located at 13661 SW Village Parkway. The community will be near Interstate 95 and is 20 miles south of the Treasure Coast International Airport. Future residents will have access to major retailers including Walmart, Sam’s Club and Lowe’s, which are all within 5 miles of the property.
The project joins other residential developments within Tradition. In December 2023, EDEN Living received $55 million in construction financing for The EDEN at Tradition, a 214-unit built-to-rent community also located on Village Parkway.
NRP’s national expansion
The NRP Group currently manages more than 33,000 units and has developed more than 68,000 apartments nationwide. In Florida, the company has built more than 6,300 apartments.
Last October, NRP opened Diamond Flats, a 331-unit luxury development in Carrollton, Texas, near Dallas, after two years of construction. Santander Bank provided a nearly $54 million construction loan for the project.
More recently, the company broke ground on The Waymark, a 109-unit affordable housing project in Washington, D.C. The project is being developed through a joint venture with Marshall Heights Community Development Organization for individuals and families earning up to 30, 50 and 80 percent of the area median income. Delivery is slated for late 2027.
