PORT ST. LUCIE, Fla. – Capstone Communities celebrated the opening of The Cottages Tradition, a build-for-rent multifamily development within the Southern Grove district of Tradition. On November 1, the Alabama-based company held a ribbon cutting ceremony with Capstone leadership and representatives from the Port St. Lucie Chamber of Commerce and the City of Port St. Lucie.
The Cottages Tradition is a 286-unit development situated on approximately 30 acres, featuring community amenities like a 24-hour clubhouse, a state-of-the-art fitness center, a resort-style pool, sidewalks and other pedestrian-friendly amenities designed to create a true sense of place for its residents.
“The Cottages Tradition is a great addition to our community because it provides a unique housing option that will support our growing economy within St. Lucie County,” said Terissa Aronson, president and CEO of St. Lucie County Chamber of Commerce. “Our mission is helping local businesses prosper, and what better way to live this out than by welcoming new housing developments that our residents can call home.”
The Cottages Tradition features a mix of one, two and three-bedroom cottages, each with its own private fenced yard, as well as one-bedroom lofts and carriage units. The community caters primarily to young professionals, empty nesters and those transitioning to the Port St. Lucie area looking to rent instead of buy.
“Our goal is to meet the needs of Port St. Lucie renters and build a sense of community that you can’t typically find in an apartment setting,” said Davis Maxwell, vice president of development for Capstone Communities. “The Cottages Tradition will provide residents the space, privacy and neighborhood feel of a home with the top-notch amenities and convenience of a traditional apartment.”
Berkadia JV Equity & Structured Capital secured the capital partner for this project in addition to Capstone’s robust pipeline of build-for-rent projects to come. Nequette Architecture & Design is the lead architect for the project, and CBI Construction Services is the general contractor. Capstone Properties, Capstone’s in-house management division, is managing and leasing the property.
For more information on leasing, visit www.thecottagestradition.com.
About Capstone Communities
Capstone Communities is an Alabama-based real estate firm specializing in development, management and construction of student and multifamily housing. In 2017, Capstone expanded to the multifamily sector at the forefront of the build-for-rent movement with the introduction of its conventional cottage-style development program.
Today, with a mission to be an innovative company dedicated to serving people, building community and delivering exceptional experiences that stand the test of time, Capstone’s growing project footprint now stretches across the Southeast with build-for-rent communities under construction in Alabama, Georgia, Florida, South Carolina and North Carolina.
About Port St. Lucie Chamber of Commerce
Since 1906, The St. Lucie County Chamber of Commerce Inc., has continued to serve as the “Unified Chamber of St. Lucie County”, proudly serving Port St. Lucie, Fort Pierce, and all of St. Lucie County. For more information please visit: stluciechamber.org.
