Waterchase apartments is a 278-unit Class B community located in Largo, Florida. The property was developed in multiple phases from 1969 – 1989 within an infill location where new construction has been virtually non-existent since 2006. The location places residents within five minutes of the Pinellas beaches and in close proximity to numerous shopping and dining venues.
Waterchase is located only 5-20 minutes from several of Tampa’s premier employment centers including: Clearwater Business District, Gateway Office Market, St. Pete-Clearwater Airport, Westshore Business District, and Tampa International Airport. These five locations are home to over 200,000 jobs with McDill Airforce Base providing 17,000 more jobs only 35 minutes from the property. The Largo Medical Center/Morton Plant Hospital/Mease Dunedin Hospital complex is less than 15-minutes from the property and provides 1255 beds. Residents can walk to several major retail outlets including Walmart, ALDI, and LA Fitness – Publix Supermarket is 1.5 miles from the site.
Waterchase was completed in four phases of development from 1969-1989 and consists of two-story concrete block construction with three swimming pools, multiple clubhouses, recently replaced roofs, business center, and dog park. Apartment homes range from 600 square foot studio units to 1340 square foot two bedroom plans. 64% of the units offer screened in patios and lanais – 12% of the units enjoy 20’ vaulted ceilings. Additional community features include: BBQ picnic area, fitness facility, eight laundry facilities, access gates, pet playground, bike racks, package receiving area and recycling center. Unit features include: solid surface flooring, ceiling fans, window coverings, electronic thermostat, modern appliance package, cable television and some in-unit washers/dryers.
Balfour Beatty Communities assumed on-site management at closing. Waterchase was acquired in ApexOne Multifamily Fund III and will be held for long term growth and appreciation.