Multifamily

BRANDON AND RIVERVIEW, FLA. — Phillips Development & Realty is building two Class A multifamily complexes in Brandon and Riverview, totaling $61 million. In Brandon, Phillips Delaney Creek, a $30 million, 290-unit property, will be situated on 49 acres in the southwest quadrant of the intersection of Progress Boulevard and Falkenburg Road. The community will feature three- and four-story garden-style buildings with elevator service and scenic wetland conservation areas. Phillips Magnolia Park, a $31 million, 300-unit property in Riverview, will be situated on 19 acres within Magnolia Park, a master-planned development located in the southeast quadrant of the intersection of Progress Boulevard and Falkenburg Road. The garden-style community will feature three- and four-story buildings. Both projects will break ground this year.

ATLANTA — Atlanta-based Pollack Partners is developing a $35 million, 15-acre multifamily community in Atlanta, located along Peachwood Circle near the Clairmont interchange at Interstate 85. The development will include 269 one- and two-bedroom apartments in three- and four-story buildings. Amenities will include a swimming pool, clubhouse, fitness center, business center, media room and walking and jogging trails. Pollack acquired the land parcel from Atlanta-based VS Apartments and Stonewood Partners, for $7.7 million. Bob Nagle and Mike Cooper of Nagle & Cooper were the sole brokers and exclusively represented the buyer. Construction is slated to begin in June, with initial occupancy scheduled for next spring.