PALM BAY, Fla., Dec. 20, 2018 (GLOBE NEWSWIRE) -- Lincoln Property Company with client Northshore Development celebrated the groundbreaking of their Aqua Apartments and Retail Shoppes development, following through on Northshore's land purchase made two years ago. The site construction began in June 2018 to clear the way for this new Downtown Palm Bay development. The developers anticipate starting lease-up next summer with occupancy as soon as September 2019. The Brevard County community will consist of 320 luxury apartment residences along North RJ Conlan Boulevard and will include new neighborhood retail shops, restaurants and local grocers. This Best in Class community will provide brand new unparalleled residential options, long awaited in the area. As the newest residential apartment development on the Space Coast, Aqua will provide a living experience that is unprecedented.
At Aqua, the residential building will offer studios, 1, 2, and 3 bedroom residences boasting classic designer finishes. The unrivaled Aqua amenities will include a resort style pool and lounge area, private cabanas, open air Cross Training course, yoga lawn, shaded areas and zero entry water features for public/private access dog park, electric car charging stations, private garages, gated access and views across the Indian River to Melbourne Beach.
Aqua, located within the Bayfront Community Redevelopment District (BCRD) in the City of Palm Bay, is a monumental new development for the City. It will usher in a new era of development to accommodate the rapidly growing community of the Space Coast. The population has expanded over the past few years due to the strength of a revitalized private industry, led by Harris Corporation, Northrup Grumman, Raytheon, Embraer, Boeing, Space X, OneWeb and the multitude of engineering facilities and supporting companies that have been attracted to the area’s unique attributes. The Space Coast has seen a rise in population that has engulfed the existing inventory of residential housing units and left a strong desire for upscale and well-located housing. Aqua, as a first phase to the developer’s master plan, expands the area’s residential offerings. It will seek to partner the additional phases with innovative operators and visionary developers to create a thriving live, work and play environment.
Northshore Development has partnered with the Bayfront Community Redevelopment Agency (BCRA) and a local team to create their vision and align it with the City’s overall growth plan. In addition to working with local contractors, Northshore Development is dedicated to supporting the local community. Northshore Development also works with local investors who are participating in this catalyst project through an exclusive syndication network and platform for local residents to be engaged and invest in their community.
Franz Hanning, CEO of Northshore Development, stated, “The best way for us to include the local residents is to align ourselves directly with them. We are committed long term to the City and believe this to be a true catalyst project for the region that will help to reinvigorate the RJ Conlan Boulevard Corridor. Northshore Development believes in the future of the City of Palm Bay and we look forward to accomplishing great things working with the community.”
Aqua will be professionally managed by Lincoln Property Company out of their Southeast region. Lincoln is a major player in multifamily management, and currently manages 124 residential communities with over 33,000 units in the Southeast.
About Northshore Development
Northshore Development, LLC is based in Orlando, FL with a financial office located in Palm Beach, FL. The team includes a highly visible CEO who spent 25 years as the top executive within Wyndham Vacation Ownership, a highly qualified developer with 15 years of experience with Marriot Vacation Club, and a CIO who has participated in the structuring and capital investment of over $5 billion in world class real estate assets.
Northshore Development, LLC has a unique offering in the marketplace with senior executive leadership, development, construction management, finance and operational knowledge from the top tier of global real estate firms.
For more information about Northshore Development, LLC please visit www.NSDPartners.com.
About Lincoln Property Company
Lincoln Property Company is headquartered in Dallas, TX and is a leader in real estate investment, construction and development in addition to property management. Founded in 1965, their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader.
For more information about Lincoln Property Company, please visit https://www.lincolnapts.com/about/client-services or visit https://www.lincolnapts.com/communities for apartment listings in your area.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/bf68a84f-7eb3-4b3c-80b5-6d8fed5f986a
http://www.globenewswire.com/NewsRoom/AttachmentNg/5dfd1845-d68f-4190-a607-7b727d1c11db
http://www.globenewswire.com/NewsRoom/AttachmentNg/81a3cad0-3a52-4137-b5cb-800d3598b985