LIV Development Breaks Ground on Tampa Residential Project
- Aug 12, 2020
LIV Development has broken ground on Santos Flats Apartments, a 296-unit residential community in Brandon, Fla., according to the general contractor of the project, LandSouth Construction.
The multifamily property is located on Causeway Boulevard about 12 miles east of downtown Tampa and will consist of two four-story buildings and five two-story buildings. Units at the community will range between one-, two- and three-bedrooms with various layouts and sizes. Interior finishes will include granite countertops, ceramic tile kitchen backsplashes and attached garages.
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Designed by architecture firm Charlan Brock & Associates, resident amenities at Santos Flats will include a clubhouse with game room, saltwater swimming pool, fitness center with outdoor lawn, private workspaces and event lounges.
The project is expected to be completed in winter 2021, according to LandSouth. The new community is not the first collaboration between Birmingham, Ala.-based LIV Development and Jacksonville, Fla.-based LandSouth Construction. In June, the duo launched construction of Summerhouse Apartments, a 257-unit apartment community in Lakewood Ranch, Fla. That project is slated to be completed in winter 2022.
Despite a surge of COVID-19 cases statewide in July, Tampa’s multifamily sector experienced a fair amount of activity last month, with more than 4,000 units expected to be delivered by the end of the year, according to Yardi Matrix data. One of the biggest deals in the market last month was Bridge Investment Group’s $101 million purchase of a two-property portfolio totaling 598 multifamily units.
The multifamily industry is still pushing for more federal relief for renters impacted by the ongoing pandemic. Without significant investment, industry leaders and housing advocates are worried about a potential domino effect that would start with renters unable to pay rent and end with owners losing their properties.