The NRP Group Expands Florida Footprint
- Aug 20, 2019
The NRP Group has opened The Allure at Gateway, a 274-unit market-rate community in Pinellas Park, Fla. This is the tenth multifamily property developed by the Cleveland-based company across the state. According to Yardi Matrix data, the developer broke ground on the project in 2018, making use of a $27.9 million construction loan from the Canadian Imperial Bank of Commerce.
Situated at 8851 U.S. Highway 19 N., the property is near Interstate 275, 10 miles north of downtown St. Petersburg and 18 miles west of downtown Tampa. The immediate area houses many shopping and dining options and the community is close to major employment centers and corporate campuses.
The Allure at Gateway consists of two four-story buildings constructed on a 11.7-acre site. The unit mix features one- to three-bedroom apartments, with floorplans ranging from 650 to 1,337 square feet. Amenities include a two-story residential event space with a community kitchen, resort-style pool, fitness center, conference rooms and a fire pit with outdoor grilling areas.
Projects in the works
Aside from The Allure at Gateway, The NRP Group will open two more communities in the region: Aria at Bradenton, a 302-unit development in Bradenton, Fla., and 1701 Central, a 243-unit property in St. Petersburg, Fla. Residents are expected to move into Aria at Bradenton in the fourth quarter of 2019 and at 1701 Central in the first quarter of 2020.
Another three NRP multifamily projects are under construction: 300 units in Ft. Myers, 332 units in Central Pasco County and 300 units in southwest Orlando. Once completed, the company’s Florida portfolio will total 1,751 rental apartments.
In June, The NRP Group broke ground on a 76-unit affordable community in Cleveland. That development is part of a mixed-age property that includes a 50-unit community for seniors completed 10 years ago.