Pollack Shores Completes Land Purchase for New Luxury Apartment Community in Lutz, Florida

12/22/17

The regional multifamily developer will break ground on The Fountains at Northpointe in early 2018

Multifamily developer Pollack Shores announced today that it has closed on the land purchase for its latest luxury apartment community in Lutz, Florida, one of metro Tampa’s fastest-growing suburbs. Design plans were recently finalized for the development located off Suncoast Parkway, which will be known as The Fountains at Northpointe. The project is within walking distance of one of Lutz’s popular mixed-use retail centers, and is expected to break ground in January 2018.

The 239,000-square-foot community will include 252 units and provide residents with a spacious outdoor living area, along with convenient access to several nearby shopping and dining destinations. The community features a variety of floorplans for one, two and three-bedroom residences ranging from 700 to more than 1,300 square feet. Each home will feature granite countertops, shaker-style cabinets, stainless steel appliances and luxury vinyl plank flooring. The project is slated to open in May 2019.

Property amenities will include a resort-style pool and courtyard, a large water feature with a pedestrian bridge and a luxurious clubroom and seating area. The community is also just one mile away from the popular Suncoast Trail, a 42-mile biking greenway that covers Hernando, Hillsboro and Pasco counties.

“The Fountains at Northpointe furthers our strategy to develop highly amenitized apartments in strong suburban locations that have not seen new development in recent years,” said Steven Shores, President and Co-Founder of Pollack Shores. “Pollack Shores will continue to seek opportunities that strengthen our portfolio in the Sunbelt and build long-term value for stakeholders.”

The project is located less than half a mile away from Northpointe Village, a 68,000-square-foot development which features a variety of retailers, restaurants and specialty shops anchored by Marriot’s Residence Inn. Nearby restaurants include Carrabba’s Grill, Brick City Eatery and International Beer Garden. The city of Tampa is a less than half hour drive away for residents who commute or enjoy the dynamic nightlife downtown.

NXT Capital is partnering with Pollack Shores on the project. Matrix Residential, a subsidiary of Pollack Shores, will add the development to its growing and diverse portfolio of award-winning properties the company manages across the Sunbelt.

Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa Bay, South Florida, Raleigh, Charlotte, Dallas, Nashville and Richmond. For more information, please visit www.pollackshores.com.

About Pollack Shores Real Estate Group, LLC

Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities in the Southeast. Founded in 2006, the Atlanta-based company currently manages a balanced portfolio of nearly 26,000 multifamily units representing in excess of $1.3 billion in total assets. Pollack Shores fully embraces the core value of service to its community, its residents and its clients.

For more information, please visit www.pollackshores.com.

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