Hillpointe Enters Nevada With 360-Unit Project
The community will include a mix of apartments and townhomes.
Hillpointe has acquired a 32.5-acre site at 18610 Wedge Parkway in Reno, Nev., where it plans to build Pointe Grand Cape at Southport, a 358-unit multifamily development. A seller and purchase price were not disclosed.
The deal represents Hillpointe’s first foray into Nevada. Ryan Kruger, an advisor at the Land Advisors Organization represented Hillpointe in the deal.
Pointe Grand Cape at Southport will feature 268 two-bedroom, two-bathroom apartments over 12 buildings, along with 90 built-to-rent townhouses. The townhomes will be three-bedroom, two-and-a-half-bathroom residences, each with an attached two-car garage.
Amenities at the community will include a clubhouse, a resort-style pool and hot tub and a fitness center. There will also be a dedicated dog park and a pickleball court, and the development will be located near The Summit Reno, a shopping and dining destination.
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Grading at Pointe Grand Cape at Southport will begin in the fourth quarter of this year, with full site work starting in December. The developers expect to start vertical construction on the project in March 2027, with first deliveries in January 2028 and a full completion in April of that year.
Over the last decade, Greater Reno has diversified into a hub for advanced manufacturing, technology and logistics, spurred by the buildout of the Tahoe-Reno Industrial Center and Tesla’s Gigafactory Nevada.
Hillpointe’s activities
In the Tampa market, Hillpointe recently secured $67 million for Pointe Grand Interbay at Tampa, a 408-unit workforce housing community slated for opening in June 2027. The project is advancing under Florida’s Live Local Act.
Earlier this month, the company completed construction of Pointe Grand Town Center. The property is a 264-unit attainable multifamily housing community located in an Opportunity Zone site in Palm Coast, Fla.
