In the fourth quarter of 2017, Willton partnered with a leading Southeast-based regional developer to construct a 351-unit, Class-A multi-family rental project in South Tampa. The development is part of a larger master planned mixed-use community with 1.5 miles of waterfront on Old Tampa Bay.
The Tampa-St. Petersburg MSA is one of the fastest growing job markets in Florida, and boasts one of the lowest vacancy rates in the state. Willton saw that the development was a unique opportunity to partner with a best-in-class merchant builder at an attractive land basis on a fully entitled project in a master planned community, surrounded by luxury townhomes, condos, and high-end rentals. Willton successfully exited from the project upon sale of the stabilized property in 2020.