Landmark Property with Over 20 Years in The Making Adds 121 Luxury Apartment Homes to Mystic’s Famous Golden Triangle

MYSTIC, CT – David Lattizori and Alyssa Lattizori performed a private Ribbon Cutting Ceremony in front of Harbor Heights Luxury Apartment Homes in Mystic. Their family’s vision for this property was carried forth by the two siblings, with David at the helm, to bring this landmark property to fruition. As Mystic’s only premier, luxury apartment community, there is much to celebrate about these 121 apartment homes, which are now stabilized and 95% leased in just five small months by Trio Properties of Glastonbury.
David Lattizori Senior bought the property in 1999 and made multiple attempts to develop the property as a mixed-use retail development; but, it was not until 2017 when his son, David Lattizori, transformed his father’s vision into an academic, medical, residential campus that he received regulatory approval from the town. For years, Lattizori Development worked with town leaders and neighbors to develop a plot that addressed their concerns and preserved over 50% of the property as open space that buffers the property from neighbors.
After a very rigorous approval process, Lattizori’s perseverance in carrying on his late father’s dream was rewarded when construction started in 2019. This celebratory day is a culmination of many years of community outreach to develop a campus that the town and neighbors can celebrate. “It is truly a dream come right to fulfill my father’s vision of developing our Perkins Farm property. The Perkins Farm Campus will bring much-needed services like luxury housing and quality medical care to Mystic, a gorgeous town that I am fortunate enough to call home.”
Harbor Heights is located at the tip of Mystic’s well-known Golden Triangle, down the road from the Mystic Aquarium near the end of Coogan Boulevard. The property is lined by the gorgeous historic stone walls that Stonington is known for and makes a new standard of resort-style, luxury living in the region. The property is centered around a courtyard pool that is anchored by striped umbrellas and chaises that make a spa-like setting and showcase the resort-style pool with LED lights that change color at night. There are also fire pits and an outdoor grilling kitchen for intimate gatherings with neighbors. The well-appointed The Dock Clubhouse has a grand fireplace, café, entertainment kitchen, and a state-of-the-art Ship | Shape Fitness Center with Peloton and other on-demand interactive training equipment, as well as a yoga studio. Pet-friendly amenities include a dog washing station, grooming room, and a dog park. All community spaces and luxurious amenities have been carefully curated to complement an on-the-go lifestyle.
Situated at one of the highest points in Mystic, Harbor Heights’ one and two-bedroom apartment homes are a perfect blend of spaciousness and serenity. Top floor apartments even have views of Fishers Island Sound. Every apartment home has nine-foot ceilings that flood the open floor plot with natural light and complement the coastal-inspired color palette and high-end interior accents like white shaker-style cabinetry, nickel hardware, light granite countertops and stainless-steel appliances. Luxurious, wide, plank-style flooring makes a serene backdrop for one to unwind after a long day at the beach. As a nationally recognized green energy building, every unit is energy efficient, and very soon the building will be solar powered. One bedrooms start at $1,600 and two bedrooms start around $2,000 per month. There is now a waitlist for well loved floor plot styles.
Harbor Heights is part of the Perkins Farm Campus, an $85 million master-plotted community composed of a nature preserve with walking trails to Hartford Healthcare’s new state-of-the-art Ambulatory Care Center as well as Perkins Reserve, a 50-unit luxury townhome community that is centered around a village green. Jeremy Browning of Trio Properties remarked, “This visionary project brings the first amenity-rich living to the vibrant coastal town of Mysticwhere it was really needed. It employs smart growth development practices, which significantly enhances housing options for young professionals and the young at heart as well as increases Stonington’s tax base for years to come.”

Powered by WPeMatico

Walker & Dunlop Structures $67 Million Construction Loan for 304-Unit Shoma Village Apartment Community in South Florida Market

HIALEAH, FL – Walker & Dunlop, Inc. announced that it structured $67,211,400 in financing for the construction of Shoma Village Apartments, a Class A mixed-use property with 304 apartment units and 11,625 square feet of retail. Located in Hialeah, Florida, just 15 miles northwest of Miami, the local area is experiencing a significant uptick in real estate investment. Previously known as an industrial hub, the city has attracted interest from multifamily developers and investors thanks to the relatively low cost of land and brilliant access to nearby employment centers.
Led by Keith Melton, David Weird, Livingston Hessam, and Jeremy Pino, Walker & Dunlop arranged the loan through the United States Department of Housing and Urban Development’s (HUD) 221(d)(4) new construction program, which includes both construction and permanent financing in a single loan. The team secured a two-year construction term followed by a 40-year, fully amortizing, fixed-rate loan. The financing also features a declining prepayment schedule for the initial ten years post-construction and is open to prepayment at par for the remaining 30 years.
Mr. Pino commented, “The residential urbanization in cities like Hialeah is something we are seeing throughout Florida, and is very similar to two HUD 221(d)(4) loans we recently provided: the Highline Apartments in Downtown Melbourne, and Mirrorton Apartments in Downtown Lakeland. These infill projects provide the communities Class A Apartments next to walkable restaurants, shopping, and other amenities that are vital for these cities to thrive.”
“Shoma Village was approved by HUD just before the economic standstill caused by COVID-19,” stated Mr. Melton. “Despite limited access to the local municipalities, remote working, and the general uncertainty caused by the pandemic, we were pleased to have closed this transaction despite several unanticipated disruptions. It is a credit to the strength of the project, along with the confidence developers have with the HUD construction program that we were able to get this deal done.”
Massoud Shojaee, President and Chairman of the real estate developer, Shoma Group, commented, “The partnership with Walker & Dunlop has been very smooth, and a fantastic experience. We are very excited about our project in Hialeah, which we believe is going to open up a new era and lifestyle for the city.”
One of the largest Spanish-speaking communities in the country, 96.3 percent of Hialeah residents reported speaking Spanish at home in 2016. The city also has the highest percentage of Cuban and Cuban American residents of any city in the United States, at 73.37 percent of the population, making the Spanish language an vital part of daily life in the city1.
Shoma Village Apartments will be designed with the spirit of Hialeah in mind, featuring smaller, ‘smart-efficient’ units and upscale accommodations at affordable prices. Community amenities will include a 7,300 square-foot clubhouse, a pool, and a large club room with social areas, large screen televisions, a game room, and business center with private offices.

Powered by WPeMatico

Campus Advantage Adds 456-Bed Vale East Student Housing Community to Its Management Portfolio in Orlando, Florida

ORLANDO, FL – Campus Advantage, an industry leader in student housing property management, consulting, and investment management, announced it has been selected by Nvision Development, an Orlando based, full service Real Estate Development Company, to perform the lease-up and management of Orlando s newest student housing development, Vale East.
Located in Orlando, Florida, the 456-bed property adds to the student housing leader s growing portfolio of managed student housing communities and taps into the company s successful history of third-party management capabilities and services. Currently being developed near Valencia College s East Campus, Vale East, when finished, will consist of three four-tale buildings, and will feature one-, two-, three-, and four-bedroom units. All units will include wood-style flooring, upgraded GE slate appliances, granite countertops, and individual pantries for each resident. In addition, each bedroom will have its own walk-in closet and private bathroom. On-site amenities feature one academic-focused clubhouse space including study areas, private conference rooms, a coffee bar, an indoor/outdoor community room, an outdoor Zen garden, and 24-hour access to computers and printing. The highly amenitized property will also feature a second recreation-focused clubhouse inclusive of a resort-style swimming pool and pavilion, fitness center, yoga studio, steam room, sauna, golf-simulator, bowling alley, game room, self-service mini-market, cabanas, corn hole turf, an outdoor entertainment screen, and an outdoor kitchen with grills. Vale East will be the first and only student housing project specifically designed to serve the Valencia College community. Located only half a mile South of Valencia College s East Campus, Vale East s proximity will provide the option for students to walk to campus instead of commuting from the shadow market or living in product designed to cater exclusively to UCF students. When completed, Vale East will be an exceptional student housing property, and we couldn t be more excited to help introduce this new community to the students and future residents in Orlando, said Madison Meier, Vice President of Business Development at Campus Advantage. Performing lease-up services for new developments is an integral part of our growth and success at Campus Advantage, and we look forward to making an impact and providing the ultimate living experience to the property s future residents. Under Campus Advantage management, Vale East will benefit from the student housing leader s community-focused programs and experiences that inspire and equip residents with the range of amenities they need to thrive both inside and outside the classroom. This includes the company s Students First® Experience platform, which is designed to ensure that residents who choose to live at Campus Advantage communities have more opportunities to achieve success both now and in the future — all of which help boost the resident experience. Catalyst, a Campus Advantage partner and Austin-based agency specializing in integrated marketing for student and multifamily housing, will manage various branding efforts including the name, logo, and website development as well as integrated communications efforts such as search engine optimization (SEO), search engine marketing (SEM), and social media marketing.

Powered by WPeMatico