Local real estate developer Trimark Properties, noted for their selection of upscale apartments in Gainesville, FL, has broken ground on Cascades Luxury Apartments, a five-story, $14 million complex located less than three blocks from the University of Florida campus.
D.E. Scorpio Corporation began construction on the 73,000-square-foot building on Wednesday, March 22nd. It will be located at 925 SW 4th Avenue, in the corridor between downtown Gainesville and the University of Florida campus, less than a block away from Trimark Properties’ latest commercial project, Ingenuity, which also broke ground earlier this month.
Cascades will serve as luxury housing for the nearby college’s population of 50,000 undergraduate and graduate students. It will feature an ultramodern, aquatic-inspired design composed by Trimark Properties and architects Fugleberg Koch. The 67-unit building will have floorplans ranging from studios to four-bedroom apartments, with rents spanning from $1,045 to $2,900 per month.
Units will comprise of luxury bathrooms and gourmet kitchens with energy-efficient stainless steel appliances, electric wine coolers and granite countertops. Each apartment will also include a private Juliet balcony, excluding the four-bedroom units which will come equipped with more spacious porches.
The building’s entrance will lead to a hotel-style lobby, and the ground and first floors will each have interior common areas with private study cubicles and conference rooms. The complex will feature a rooftop terrace lounging area, complete with ivy-wrapped pergolas, a fire bowl and loveseats. A separate veranda off of the first floor will contain an outdoor garden with a wading fountain and sunbathing space.
“Our objective has always been to provide high-quality student housing near the University of Florida campus, Sorority Row, downtown and midtown so our residents can enjoy a convenient and satisfying lifestyle balance between their studies and experiencing the Gainesville culture,” said John Fleming, managing partner of Trimark Properties. “We believe that we have designed a property that students will take pride living in, and we are excited to see the finished project.”
Trimark Properties specializes in apartments in Gainesville near UF Sorority Row. Cascades will be the twenty-sixth complex owned and managed by the company, who have remained a primary shareholder in both the multifamily and commercial real estate industries in the city since its inception in 1992.
Cascades will be the fourth luxury complex developed by the business in the past four years, following Solaria, Savion Park and most recently Tuscana Luxury Apartments, all of which won City Beautification Awards in 2016 for their exhibition of quality design.
Construction on Cascades will be completed in July of 2018, just in time for the University of Florida’s fall semester.