PRESS ROOMNEWS RELEASE
Inland National Development Company, LLC announces the completion of the Purchase of Multifamily Development Sites in Florida and TexasSeptember 10, 2019
Oak Brook, Ill. – Inland National Development Company, LLC (“INDC”) is pleased to announce the recently completed purchase of a one acre site in downtown St. Petersburg, Florida, and a 12 acre site in Northeast San Antonio, Texas to be developed by INDC for multifamily development projects. Both developments are projected to be delivered in 2021.
The Florida multifamily development is located at 440 3rd Avenue in St. Petersburg, in the heart of the rapidly emerging vibrant downtown, four blocks from the water. It will be a Class A, 21-story apartment building with 270 units and nearly 300 covered parking spaces. The project will feature must have amenities such as a state-of-the-art fitness center with a yoga studio, a resort-style swimming pool with private cabanas, an outdoor bar with grilling stations, and a roof top amenities deck. Each unit will feature private balconies, stainless steel appliances, quartz countertops, modern fixtures and finishes and in-unit washers and dryers.
The Texas multifamily development is in the northeast San Antonio I-35 corridor at 15453 Lookout Road in the first tier suburb of Selma. It will be a Class A, gated multifamily community with 10 three-story buildings comprised of 303-units and more than 500 parking spaces. The property will feature a contemporary clubhouse outfitted with a cybercafe and gourmet coffee bar, a state-of-the-art fitness center, a business center, resort-style pool, outdoor grilling areas, a dog park and dog washing station and a park area. Each unit will feature nine-foot ceilings, open concept layouts, plank style flooring, stainless steel appliances, in-unit washers and dryers, walk-in closets, and private balconies or patios. Private yards will be available for select units. This will be INDC’s second Texas development in partnership with the Houston based Cambridge Development Group (“Cambridge”). The INDC/Cambridge team is scheduled to deliver 308 multifamily units in Austin later this year.
“We look forward to breaking ground and getting both of these high quality developments underway,” said Anthony Casaccio, president and CEO of INDC. “The development sites of these multifamily communities are ideally situated in thriving economic hubs, near major interstates and well-known employers, such as San Antonio’s Randolph Air Force Base, Brandt Engineering and Amazon, and St. Petersburg’s Johns Hopkins All Children’s Hospital and the University of South Florida.”
Forbes recently ranked St. Petersburg as the number one city for millennial job seekers, and San Antonio was recently ranked as the number one city for millennial population growth.
About Inland National Development Company, LLC
Inland National Development Company, LLC (INDC) is a developer of residential, multifamily, hospitality, retail and senior housing properties. INDC is part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups, which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof (collectively “Inland”). Inland has been creating, developing and supporting real estate-related companies for more than 50 years. For more information, visit www.inlandgroup.com/indc.