Multifamily developer and investment firm Pollack Shores Real Estate Group announced today plans to develop a 224-unit apartment community in Largo, Florida named The Rosery. The community will rise near the intersection of Rosery Road and Clearwater Largo Road, offering street-side retail, public art, connectivity to Pinellas Trail and a wide array of amenities.
“The Rosery is the first of its kind in the Largo community, offering residents a luxury apartment home with direct access to popular outdoor amenities,” said Steven Shores, President and CEO of Pollack Shores Real Estate Group. “We have designed an active, communal environment delivering in-demand walkable access to unique retail, new culinary concepts and the Pinellas Trail. The team is excited to get this project off the ground, and will continue to seek similar opportunities to expand our portfolio in Central Florida.”
Groundbreaking will occur in April 2019, with the first units set to deliver in Summer 2020. The Rosery will feature walk-out patios on first floor apartment homes, along with a direct connection to the Pinellas Trail, a popular 38-mile walking and biking rail trail that stretches from St. Petersburg to Tarpon Springs.
“The Rosery will be Pollack Shores’ second project in Largo after our successful development and sale of Gateway North on Roosevelt Boulevard,” said Brian Oates, Managing Director of Pollack Shores. “With recent reports showing year-to-year rent growth of almost three percent, the entire Tampa Bay Area continues to outpace most other U.S. metropolitan areas in the multifamily arena. We’re eager to work alongside the Largo neighborhood once again.”
In the next five years, Central Florida is expected to have 850,000 job openings, with 78,000 of those being new positions in health care, corporate office services, tourism, retail services and the construction trades.
“This area has quickly emerged as one of the most desirable locales in the Tampa Bay Area,” said Anthony Everett, Director of Central Florida for Pollack Shores. “The Rosery will draw a mix of young professionals and active adults seeking to live in a walkable, urban-style environment. One of the biggest differentiators will be The Rosery’s direct access to the Pinellas Trail. We look forward to welcoming our future residents and becoming part of this vibrant neighborhood.”
The project will have a prominent public plaza at the corner of Rosery and Clearwater Largo Road that will host public art displays and other pedestrian-focused activities. Other amenities include a resort-style pool, outdoor seating area, fire pit, hammock garden and club room with internet café.
The Rosery apartments will offer a variety of floorplans for one, two and three-bedroom apartment homes ranging from 688 to 1,372 square feet. Each unit will feature plank flooring, stainless steel appliances, modern cabinetry and doors, new light fixtures, granite countertops and large front porches and walk-out patios.
Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Nashville and Richmond. The firm is also the parent company of property management firm Matrix Residential, which has nearly 31,000 units under management across eight states.