Trimark Breaks Ground on $14M Luxury Community

Cascades Luxury Apartments is a $14 million development near the University of Florida. The community is the second ongoing project for the real estate company and it is slated for completion by the middle of 2018.
A rendering of the Cascades Luxury Apartments in Gainesville, Fla.

A rendering of the Cascades Luxury Apartments in Gainesville, Fla.

Trimark Properties began construction on a 67-unit community in Gainesville, Fla. Cascades Luxury Apartments is a five-story project, built for University of Florida students. The $14 million apartment community will be owned and managed by Trimark Properties. Fugleberg Koch Architects is the designer of the community, while D.E. Scorpio Corp. is the construction firm for the project.

Located at 925 SW 4th Ave., the 73,000-square-foot building is less than three blocks from the University of Florida campus and very close to midtown and downtown Gainesville. The community will feature studio to four-bedroom apartment floorplans. Each unit will include gourmet kitchens with granite countertops, built-in wine chillers and stainless steel appliances. Amenities will include conference rooms, private and common study areas, a rooftop terrace, fire pits and a garden. Rents will range from $1,045 to $2,900.

“The trends in student housing design have shifted from traditional, cookie-cutter features to modern apartments with luxury amenities that students can take pride living in,” said Trimark Properties Managing Partner John Fleming, in a prepared statement.

The investor also began construction on their newest commercial property, a 50,000-square-foot office building called Ingenuity, just two weeks prior to Cascades. Cascades and Ingenuity join a portfolio of more than 25 apartments and 20 commercial properties.

Cascades will be the fourth luxury complex developed by the business in the past four years, following Solaria, Savion Park and Tuscana Luxury Apartments, which all received a $22 million refinance loan.

Image courtesy of Trimark Properties