Nevada Apartment Community Breaks Ground
- Mar 22, 2017
Sparks, Nev.—Landcap Investment Partners, along with Guardian Investment Capital, broke ground on The Waterfront at the Marina, an apartment community abutting Sparks Marina, a 65 acre lake. The partnership plans to finish construction in June 2018. The project was developed in conjunction with Humphreys & Partners Architects L.P.
The five-story, 209-unit community was built on an existing parking garage structure, which has been vacant since 2008. It will feature a mix of one, two- and three-bedroom units, as well as 272 parking stalls. The property offers convenient access to Legend’s Mall, wand more than 1 million square feet of high-end amenities.
Development plans for the property utilize the “wrap” construction method, which is mostly used in dense urban locations. The Waterfront will feature fitness center, concierge services, business center, dog wash and park, secure parking and a rooftop deck.
The developer expects the property to produce some of the highest rents in northwest Nevada. “There is nothing like this project in Northern Nevada–five-story elevator buildings and secured parking garage are extremely expensive to build, and impossible for others to replicate. It will be the premier, high-end community in the area,” said James Previti, CEO of Guardian Investment Capital.
Images courtesy of Landcap Investment Partners