BOCA RATON, FL - Waypoint Residential, a vertically integrated multifamily developer, owner and operator, announced that it is delivering 7 new apartment projects, totaling 1,800 units, in Florida in the first half of 2023.
The projects, which all contain Class A amenities and finishes, are located in markets throughout the state, including Port St. Lucie, Vero Beach, Orlando, Stuart, Palm Bay and Gainesville.
"We are very excited about our development activity in Florida," said Scott Lawlor, Founder and CEO of Waypoint Residential. "We're in the process of delivering 1,800 units and have another approximately 3,000 under construction or in predevelopment that will deliver in 2024 and 2025."
Waypoint has previously developed approximately 2,000 apartment units in Florida, bringing total investment activity in the state to nearly 7,000 units, totaling $1.5B of capitalization. This is in addition to nearly 7,000 units representing $1.5B of investment activity through the rest of the Sunbelt region of the Unites States.
"We're big believers in Florida. The growth story has been spectacular for some time, and we believe it's only getting better. At the same time, the market has continued to deliver inadequate new housing stock to keep up with the growing population. As a result, we forecast extremely favorable conditions for investment in the housing market well into the future."