Stoneweg US strives to develop multifamily assets with the goal of enhancing the communities in which they are located, all while delivering above-market returns to our investors. Through detailed research and robust analysis, we identify unique development opportunities in multifamily housing. We then aggressively seek to maintain affordability through maximization of density, reduction in construction costs and utilization of creative financing and/or government programs.
The Stoneweg US development team is committed to implementing environmentally sustainable practices that are practical, achievable, improve our residents’ quality of life and maximize returns for our investors. We continually look to innovate and focus on technologies that reduce waste, energy and water use.
Tuscan Reserve Apartments – Palm Coast, Florida- Completed
Located in the burgeoning market of Palm Coast, Florida, and approximately 30 minutes from Daytona Beach, Tuscan Reserve Apartments presented a 123-unit project consisting of 16 existing units requiring the addition of a total 107 "ground up" units across 6 additional buildings. Stoneweg US "broke ground" at Tuscan Reserve on March 12, 2020.
Following an aggressive construction led by Summit Contracting Group, Stoneweg US successfully delivered the full construction of Tuscan Reserve Apartments in February 2021...several months ahead of the scheduled mid-Spring completion date. The final product consisted of 1, 2, and 3-bedroom units with modern appliances and trendy accents. Property amenities include: an enhanced pool area with modern appliances, fully furnished common areas, a spacious bark park, fitness center, a package center, and a suspended boardwalk which leads into the picturesque non-fishing lake.
In August 2021, Tuscan Reserve Apartments sold for $32.75 million, delivering an above-average IRR to its investors and representing an impressive full investment cycle of 18-months for a ground-up development.