Watermark Residential to Develop Class A Multifamily Community in Port St. Lucie, Florida
June 18, 2021
Port St. Lucie, FL
PORT ST. LUCIE, Fla. (June 18, 2021) – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced the acquisition of 17.5 acres of land in Port St. Lucie for their latest built-for-rent community, Boardwalk at Tradition. Boardwalk will be a luxury leased residential community featuring 214 one- and two-story paired villa-style homes. The expected completion date is December 2022.
“Multifamily development has not kept pace with the booming population and job growth in the Port St. Lucie area resulting in a significant shortfall,” said Brian Southworth, senior vice president for Watermark Residential. “We look forward to commencing construction and helping fill the need with our luxury leased housing that spans the gap between multi-story apartments and for-rent single-family homes.”
Boardwalk at Tradition is located at the southeast corner of SW Stockton Place and SW Community Boulevard in the Tradition master-planned community and will offer a mix of one-, two- and three-bedroom layouts that average 1,100 square feet. Watermark prides itself on providing a full complement of top-quality finishes and amenities to enhance the resident experience, and Boardwalk will include gourmet bar-kitchens with quartz countertops, stainless steel appliances, full-size washers and dryers, private backyard patios, resort style pool, professionally design and appointed clubhouses, a pickleball court, fire pits, outdoor kitchens, several dog parks and a 24-hour fitness center.
The four-county region surrounding Port St. Lucie is becoming known as the Research Coast for its innovation within life sciences, agriculture, marine sciences, oceanography and aerospace. The 8,200-acre master planned Tradition community has $365 million in new development in the works that is projected to create over 3,000 jobs.
Boardwalk at Tradition is surrounded by an abundance of national retailers, restaurants and high-end, for-sale housing developments. The site is less than a five-minute drive to Cleveland Clinic Tradition Hospital and sits a mile west of I-95, providing future residents with easy access to head south toward employment hubs in West Palm Beach and north for destinations such as Orlando and Jacksonville.
This is Watermark’s second multifamily community in the Port St. Lucie area, and they also own properties in Naples, Orlando and Panama City Beach.
“Multifamily development has not kept pace with the booming population and job growth in the Port St. Lucie area resulting in a significant shortfall,” said Brian Southworth, senior vice president for Watermark Residential. “We look forward to commencing construction and helping fill the need with our luxury leased housing that spans the gap between multi-story apartments and for-rent single-family homes.”
