Roughly one year and two months after breaking ground, Atlanta-based developer Cortland has delivered the first of two phases of its latest Florida development, Cortland Riverview, located in Riverview, Florida.
The property consists of seven mid-rise residential buildings as well as several parking garages, arranged around a pool deck and large central pond. Its units range from studios to three-bedrooms and feature wood-style flooring, high-end kitchens and custom cabinetry, according to a press release shared with Multifamily Dive.
Amenities include outdoor lounges with TVs, a 24/7 fitness center, a two-story sky lounge, a private pavilion, a landscaped trail and green space and a leash-free dog park.
The property will also offer valet trash service with indoor/outdoor access, allowing for trash pickup directly from the resident’s home without stepping inside. The parking area has the capacity to support up to 113 electric vehicle chargers, which will be installed as needed, according to the developer.
Cortland manages 36 apartment properties in Florida, and has five more underway comprising a total of 1,750 units. Eleven of its properties are in the Tampa metro area, according to the company website.
Tampa was one of the top-performing markets for rent growth in 2022, and remained 20% rent growth year over year for much of the first half of the year, according to Yardi Matrix’s monthly reports. While rent growth has since moderated across all markets, Tampa’s rent growth stands at 5.1% YOY as of January and remains elevated on a trailing 12-month basis compared to historic levels.
“We are thrilled to be delivering another community in the Tampa area,” Chris Fletcher, executive vice president of development for Cortland, said in the release. “The region has all the wind in its sails, with incredible natural resources, a relatively low cost of living and a desirable climate.”
The developer expects to deliver the second and final phase of Cortland Riverview by the end of 2023.
