Watermark Residential to Develop Class A Multifamily Community in Port St. Lucie, Florida

PORT ST. LUCIE, Fla., June 21, 2021 /PRNewswire/ -- 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.

About Watermark Residential
A wholly owned affiliate of Thompson Thrift, Watermark Residential is a national leader in the development, construction, and management of upscale multifamily communities. Since its founding in 2008, Watermark has become a nationally recognized multifamily development and residential management company. Watermark communities epitomize the company's commitment to quality and value, while exhibiting meticulous attention to detail. The company has developed more than 13,000 units across 19 states. With deep knowledge of each market entered and a methodical vision, Watermark is proud to develop communities that offer residents luxurious, convenient lifestyle. For more information, please visit www.watermarkapartments.com.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Houston and Phoenix. Three service pillars drive Thompson Thrift's success—Thompson Thrift Retail Group which is focused on ground-up commercial development, Watermark Residential which is focused on upscale multifamily communities and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com. 

Contact:                
Jennifer Franklin                                 
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift