The PARC Group, master developer for the Town of Nocatee, will add an apartment rental community in Nocatee. Broad Street Partners, a developer of apartments and condominiums in the Southeast, will build the community.
“This is an important and strategic addition to Nocatee,” said Richard Ray, a partner with The PARC Group. “These luxury apartment homes will provide an exciting place to live for those who are not quite ready to purchase a home, but want to be a part of Nocatee, and it will also provide home buyers an option to reside within Nocatee while their new home is under construction.”
The apartment community will have 320 one, two and three-bedroom units ranging from 800 square feet to 1,900 square feet. The builder expects to break ground on the project during the first quarter of 2008 with occupancy slated for early 2009.
Founded in Charleston, S.C. in 1994, Broad Street Partners specializes in the acquisition, development and investment management of multi-family communities, commercial/mixed use projects and town center projects throughout the Southeast. Broad Street Partners’ team has developed more than 20,000 condominium and rental units since the 1970s.
“Broad Street seeks to partner with communities that place a primary importance on the quality of life for their residents, and we feel we’ve found a like-minded partner in Nocatee. We’re very excited to be a part of this community,” said G. John Carey, a partner with Broad Street Partners.