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Commercial Real Estate
Business Observer Friday, Feb. 1, 2019 2 months ago

Knott Realty Group to kick off Decorum apartments leasing in April

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Developer expects to deliver 435-unit multifamily rental project in August
by: Kevin McQuaid Commercial Real Estate Editor

In advance of an anticipated August delivery, Timonium, Md.-based Knott Realty Group is preparing in April to begin pre-leasing its Decorum Luxury Apartments in Fort Myers.

The 435-unit complex, on a 38-acre tract at 9851 Ben C. Pratt/Six Mile Cypress Parkway that Knott Realty acquired in 2017 for $5.2 million, contains six four-story buildings.

Units will range from 600 square feet to nearly 1,500 square feet and feature granite countertops, stainless steel appliances, nine-foot ceilings and faux wood-plank flooring. All six buildings will contain elevators.

The complex, adjacent to the Six Mile Cypress Slough Preserve, will also contain amenities such as an 18,000-square-foot clubhouse, fitness center and a resort-style swimming pool.

Katherine Sanft, a Knott Realty development manager, says the community is the result of years of “intense research to determine specific design elements and amenities that are most desired.”

The pre-leasing push came at the behest of community manager Greystar, one of the nation’s largest apartment operators, Sanft says.

But while construction continues, pricing has yet to be solidified. Sanft says the developer is in the process of finalizing rental rates now.

“We’ve received at least two to three inquiries a month from people in the Fort Myers area since construction has been underway, asking us when the project would be completed or requesting information,” she adds. “So this is just a more formal way to get the word out there.”

 

 

 

 

 

 

 

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