SAN MARCOS, TX - Highpointe Communities, a community-focused real estate development company, has launched a multifamily division with operations in Southern California and Central Texas. The company recently broke ground on its first multifamily project called Sendero at Trace in San Marcos, TX. The $73 million Class A development consists of 399 units and is located at the northeast corner of Van Horn Trace and El Rio Street.
“Multifamily is in high demand in Texas and California and we are bringing our same philosophy of high-quality developments with state-of-the-art amenities to this space,” said Steve Vliss, founder, Principal, and CEO of Highpointe Communities. “We already have more than 1,240 units and $320 million in projects committed and plan to add up to 2,400 units before the end of 2024.”
Highpointe will employ a strategy of developing and holding the properties.
“In addition to Highpointe’s core business of developing master-planned communities, our current growth strategy is aimed at building a strong multifamily asset base to diversify our real estate portfolio and hedge against rising interest rates and inflation,” said Bobby Shakoory, Principal and Chief Investment Officer of Highpointe Communities.
Three other Class A projects in Southern California are in the design phase. The $64 million MIRAVAL at the Groves master-planned community in Loma Linda, CA is located on 11 acres at the corner of Bryn Mawr and Park Avenue and will have 232 units. ASTER is a $62 million Hemet community at the east corner of Stetson Avenue and Elk on 10 acres with 228 units. VESTA is a $121 million Palm Desert community located on 17 acres at the southwest corner of Dick Kelly and Gateway with 384 units. All projects will include resort-style amenities including a pool, fitness center, clubhouse and firepits along with lifestyle programming. In addition, the company is also evaluating two other multifamily communities in Austin, TX and San Juan Capistrano, CA, which could add 400-600 additional units to the portfolio.
“It’s one thing to build something; it’s another to design and build if you intend to own it for a while,” said Vliss. “We are focused on bringing Highpointe’s same signature quality and longevity to our multifamily division that is synonymous with all our projects.”
Established in 1997, Highpointe Communities is a results-oriented and community-focused real estate development organization. Its team of highly skilled, collaborative professionals have combined more than 100 years of real estate experience. Since its inception, Highpointe has created over 43 residential communities containing in excess of 12,000 home sites. The company's strong financial position, coupled with excellent relationships with financial partners and affiliated homebuilders allows it to react quickly in the extremely competitive and fast-paced Southern California and Central Texas real estate environments. Highpointe has forged excellent relationships with government officials, civic and community leaders, and local residents alike. These relationships, along with a solid reputation for an honest and fair-minded approach to problem solving, have enabled Highpointe to achieve its goal of creating communities that all of us are proud to call home.