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Exciting new garden-style apartments to open in Largo | Real Estate

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Exciting new garden-style apartments to open in Largo
Real Estate
Exciting new garden-style apartments to open in Largo

Largo, FL - On July 27, members of the business community, elected officials and the general public gathered to celebrate the groundbreaking of the City of Largo's newest rental apartment community, Bayside Court Apartments, located at 1760 Clearwater Largo Road.

 "This project fulfills the City's vision for creating a vibrant community," states Largo's Community Development Director, Carol Stricklin. The mixed-income garden style apartments will be developed by The Richman Group of Florida, Inc., thanks to a public-private partnership with Pinellas County, the City of Largo, the Housing Finance Authority of Pinellas County, Neighborhood Lending Partners, and JPMorgan Chase.

The Housing Finance Authority, Pinellas County and the City of Largo provided financial assistance from the federal Neighborhood Stabilization Program 2 (NSP2) which supports the purchase and redevelopment of foreclosed properties.

Neighborhood Lending Partners, a multi-bank lending consortium that provides financing for developers of affordable housing and community revitalization, partnered with Pinellas County and the Housing Finance Authority to secure this federal funding.

The Housing Finance Authority has also issued multi-family bonds for the new development which has been placed in the county's Community Land Trust. According to Anthony M. Jones, executive director of the Housing Finance Authority, "This is an exciting, creative project that leveraged federal, local and private funding to create a unique community that residents will be delighted to call home."

Bayside Court will consist of 144 two and three bedroom apartments with unit sizes ranging from 1,022 sq. ft. to 1,288 sq. ft. The spacious floor plans include nine foot ceilings, private balconies, fully equipped kitchens with black Energy Star appliances and built-in microwave; Shaker style cabinetry, granite-like countertops and ceramic tile floors.

Bayside Court will also offer outdoor amenities including a resort-style pool, a playground and a car care area. The 4,000 sq. ft. clubhouse will feature a resident lounge with a billiards table, an activity room equipped with a Wii, computer workstations, and a full fitness center.

"The Richman Group takes great pride in providing high quality, mixed-income housing which will be a valuable asset to the local community for many years to come," said Todd Fabbri, Executive Vice President. "Bayside Court is an excellent example of how community redevelopment efforts can be successful when critical public-private partnerships are formed."

JPMorgan Chase Bank, N.A. is providing financing of $10,250,000 during the construction phase. "As a leader in community development and affordable housing finance, Chase is committed to financing projects that are responsive to the changing needs of the communities as well as to the emerging trends in housing and community redevelopment," said Tammy Haylock-Moore, Vice President, Chase Community Development Banking.

 Bayside Court is scheduled to be completed by the summer of 2012. Leasing is scheduled to begin in March of 2012. Leasing information is available by contacting www.baysidecourtfl.com or calling 1-888-344-9222.

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