FREDERICKSBURG, VA – Watercrest Senior Living Group and partners, Harbert Seniors Housing Fund II, LP and Centric Development announced the development of Watercrest Fredericksburg Helped Living and Memory Care in Fredericksburg, Virginia. The 142-unit luxury senior living community, financed by Carter Bank & Trust and under construction by Centric Development, is scheduled to welcome residents in late Spring 2025.
Watercrest Fredericksburg will offer 106 helped living and 36 memory care apartments with resort-style service and world-class care. The architecture and design will boast a stunning promenade, fireplace lounge, multiple dining options, theater, library, billiards, spacious courtyards with fountains and Watercrest’s premier Spa W.
“We are thrilled to announce our further Southeastern expansion with a second Watercrest community in the state of Virginia,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “This partnership provides an opportunity to honor a greater number of seniors by establishing an exceptional Watercrest product in the esteemed community of Fredericksburg.”
Watercrest principals, Marc Vorkapich, CEO and Joan Williams, CFO, are setting exceptional standards of quality for seniors and their families in the development of upscale senior living communities from South Florida to Virginia. Watercrest and Harbert Seniors Housing Fund II also developed Watercrest Richmond Helped Living and Memory Care which opened in May 2023 in Richmond, Virginia.
Construction is currently underway at Watercrest Fredericksburg, conveniently located at 4525 Spotsylvania Parkway. Fredericksburg is ideally situated between Richmond, Virginia and Washington D.C., boasting historical sites, hiking trails, art galleries, specialty retail shops and charming chef-owned restaurants and craft breweries.

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ST PETERSBURG, FL – Olympus Property announced the acquisition of 930 Central Flats, a 218-unit luxury apartment community located in the heart of Downtown St. Petersburg, FL. Completed in 2019, this six-tale mid-rise community exemplifies premium urban living and represents a significant addition to Olympus Property’s portfolio.
With a strong track record of success in the multifamily real estate sector, Olympus Property continues to expand its portfolio with the acquisition of 930 Central Flats, further building its presence in key growth markets. This acquisition marks Olympus’ second in the Tampa Bay area, bringing its Florida portfolio to over 5,500 units across owned and managed properties. Established in 1992, Olympus Property has grown to own and manage approximately 34,000 units across 16 states, driven by a hands-on approach and a commitment to delivering exceptional living experiences. Leveraging its extensive experience and operational expertise, Olympus is well-positioned to ensure strong performance at 930 Central Flats, while consistently providing value to both residents and investors.
Situated in the sought-after Central Avenue entertainment corridor, 930 Central Flats offers residents a prime live-work-play environment. Its walkability and proximity to major employment centers, entertainment venues, and retail options make it a highly coveted address in the Southeastern United States.
“The acquisition of 930 Central Flats is a significant milestone in expanding Olympus Property’s presence in one of Florida’s most dynamic urban markets,” said Chase Bennett, Chief Acquisitions Officer at Olympus Property. “The property’s unmatched location and upscale amenities align seamlessly with our long-term investment approach. Its proximity to Olympus Harbour Island, another key asset in our portfolio, further strengthens our presence in the Tampa Bay area. We are excited to add 930 Central Flats to our portfolio and continue delivering the exceptional living experiences our residents have come to expect.”
930 Central Flats is ideally located adjacent to the highly anticipated $6.5 billion Gas Plant District redevelopment, a transformative project expected to make 5,500 jobs and contribute $1.4 billion annually to the local economy. With simple access to major highways, including I-375, I-275, and I-175, the property offers a convenient commute to key employment centers throughout the Tampa Bay area, connecting residents to over 390,000 jobs within a 25-minute drive. Boasting a 97 Walk Score, the property offers a pedestrian-friendly lifestyle with direct access to Central Avenue’s retail and entertainment options, including over 580 restaurants, bars, and shops.

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FORT COLLINS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for The Quarry, a Class A multifamily community near the main campus of Colorado State University. The first residents started moving into the 319-unit Class A multifamily community in April and Thompson Thrift expects construction to be completed during the first quarter of 2025.
“The Quarry provides an appealing rental option for residents desiring the style, luxury and convenience that Thompson Thrift communities are known for,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “Our team is excited to deliver an brilliant experience in an environment our residents will be proud to call home.”
The Quarry is located at the southeast corner of Shields Street and Hobbit Street. The 20-acre community offers a mix of one-, two- and three-bedroom apartment homes in three- and four-tale buildings, as well as 10 single-family villa structures and detached garages. In addition to its proximity to Colorado State, residents have simple access to Fort Collins’ vibrant and growing downtown district known as “Ancient Town Fort Collins,” as well as the city’s 36,000 acres of natural land for walking, hiking, and biking.
At the ribbon cutting, visitors were able to view models showcasing high-end interior features such as gourmet bar kitchens with quartz countertops and designer backsplashes, walk-in closets and full-size washers and dryers, as well as private outdoor spaces with fenced-in yards that are available with some homes. Additionally, they were able to preview the community amenities, including a professionally decorated clubhouse, 24-hour fitness center, resort-style swimming pool with cabanas, community garden, and fitness trail.
In support of Thompson Thrift’s commitment to community outreach, they presented a check to local non-profit Homeward Alliance. Homeward Alliance envisions a community in which homelessness is rare, small-lived and non-recurring. They bring together multiple agencies and provide a one-stop shop for their clients with a continuum of programs and initiatives for families, adults, and seniors, such as basic needs, housing-focused case management and employment services.
Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.

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