Indianapolis-based Cityscape Residential has closed $135M million on three new multifamily developments in Indiana, Kentucky and Kansas.
NEXUS, a $50.6 million community in Noblesville, Ind., broke ground in early April. The development will provide 287 new high-end apartments surrounded by parks and trails near the city’s historic downtown square, revitalizing a highly visible vacant site and spurring economic development in the area.
In Lexington, Ky., Cityscape will debut FIFTEEN51, a residential village development on the University of Kentucky’s Coldstream Research Campus.
Cityscape secured $37.4 million to build the 13-acre development, which will provide 260 multifamily residential units and create a dynamic “live-work-play-learn” environment for the UK community. Cityscape has leased land from the university to construct and operate the residential village and is planning a May 2021 groundbreaking event.
Finally, Cityscape Residential and its partner, GRATA Development, secured $46.5 million to jointly develop a multifamily community called New Trails in Gartner, Kan. Part of a larger $200 million mixed-use development on 262 acres, New Trails will create 288 apartments on 22 acres.
“We’re excited to continue to grow our portfolio of luxury apartments with these new developments, and create more homes in more communities across the Midwest,” said James Thomas, founder and managing partner of Cityscape Residential.
“When it comes to developments like these, we’re not only building homes, we’re building long-term capital relationships and strategic partnerships that benefit us all -- from our investors, to the cities we grow in, to our future residents,” Thomas said.
To learn more about these communities and other developments on the horizon, visit http://cityscaperesidential.com/ or follow the company’s updates on Facebook, Twitter, Google+ and LinkedIn.