AHS Residential on track to start site preparation for 372 apartments in Tradition Center for Commerce in fourth quarter. Image courtesy of the Tambone Companies
Last year, the City of Port St. Lucie contracted with Tambone Companies to market and expedite the sale and development of 84 acres of land within Tradition Center for Commerce, with the goal of spearheading economic development in the area.
Tambone Companies and the City of Port St. Lucie subsequently closed with AHS Residential on a 19.84-acre parcel of land located just south of SW Discovery Way, along Village Parkway in Tradition.
Work is scheduled to begin on site preparation in the fourth quarter of 2020 with the construction of a lake to provide drainage for three of the properties in the Tradition Center for Commerce. The lake will also serve as a amenity for the multifamily housing planned for the site.
While many projects around the country are on hold due to pandemic-related financing issues, Richard Tambone, president of the Tambone Companies, said that wasn’t the case in Tradition.
“Our activity has increased significantly over the last six months. We are working with four different groups on purchase and sale agreements,” said Tambone, adding that announcements about new projects should be made in the next three to four weeks.
On July 2, Accel International Holdings announced plans to build a 150,000-sq.-ft. manufacturing facility in the commerce center. In April, the City of Port St. Lucie fielded two offers for 300 acres at Becker Road and Village Parkway, settling on the Sansone Group’s proposal to build approximately 3. 2 million square feet of single- and multi-tenant Class A, institutional quality light industrial and distribution facilities.
AHS Residential will be developing and constructing 372 market-rate rental apartments and ancillary recreational amenities. Completion of the development is planned for 2022.
The company is a market-rate developer, building quality workforce housing. Workforce housing is typically defined as being affordable for a household earning the area’s mean, or average, income (AMI). The company has also been approved to develop Harbor Grove Apartments in Stuart.
“The commitment of a reputable development company like AHS Residential to invest in Port St. Lucie and build a high-quality residential community is further testament to the growth potential of Tradition Center of Commerce,” said Tambone.
The Tradition Center for Commerce will provide development options within Tradition with more than 10 million square feet of office, industrial, warehouse, multi-family residential and retail space. Potential uses include manufacturing; distribution; retail; education; hospitality, warehousing; corporate; medical; research and development and multi-family residential.
For more information, contact Richard Tambone at 561-660-5166, or visit tambonetradition.com/projects.html.
About Tambone Companies and Tambone at Tradition
Tambone Companies is a leading Florida and New England commercial, industrial and multifamily real estate developer. The company has developed and acquired over ten million square feet of office, research, industrial, medical and multifamily projects.
Since 1981, Tambone has focused on the highly demanding built-to-suit needs of quality-minded companies. Building on its expertise and assembling top professional teams, Tambone takes companies from site selection and financing through occupancy and has a proven track record for integrity, reliability and responsiveness – spanning projects of great diversity, size, complexity and technical demands.
