RangeWater Real Estate, in a partnership with Nuveen Real Estate, is breaking ground on a 288-unit multifamily community called Tortola, in Tampa, Fla. RangeWater will be in charge of the development and the property management of the Wesley Chapel community.
The company will break ground shortly, with the first units set for delivery starting with the summer of 2023. Tortola will be the first ground-up community built by RangeWater’s new in-house construction division in Florida.
Tortola will be a garden-style property and will include common-area amenities like a dog park, a clubhouse, walking trails, a fitness center, a car wash, green areas with fire pits and an outside movie theater. RangeWater’s Director of Development in Central Florida, Anthony Everett, said in prepared remarks that the company is aiming to keep the apartment homes as affordable while providing high-end amenities.
Located at 33100 Eiland Boulevard in Wesley Chapel, the development site is close to several dining options, retail spaces and entertainment venues. Health-care facility Advent Health Wesley Chapel is only a 15-minute drive away from the site. RangeWater recently acquired Tradition at Palm Aire in Sarasota, Florida, a 248-unit luxury multifamily community from Penler. The property last traded in 2020 for $48.1 million, according to Yardi Matrix data.