Transcontinental Realty Investors Inc. & Marin Development Inc. Partner to Develop The Enclave at Deer Moss Creek in Nicevill...
December 27 2018 - 8:00AM
Business Wire
Transcontinental Realty Investors Inc., (NYSE: TCI) a
Dallas-based real estate investment company, and local developer
Marin Development Inc. are pleased to announce their latest
project, The Enclave at Deer Moss Creek (The Enclave) in Niceville,
Florida.
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the full release here:
https://www.businesswire.com/news/home/20181227005063/en/
Proposed rendering for The Enclave at
Deer Moss Creek in Niceville, Florida (Photo: Business Wire)
“Marin Development Inc. is honored to be working with TCI to
provide a luxury class A apartment community within one of the
premier master planned communities in the Florida Panhandle with
the master plan developed by Ruckel Properties Inc.,” commented
Peter A. Bocchino, President of Marin Development Inc.
The Enclave will be a 305 unit Class A luxury apartment
community located on 18.75 acres within the master planned
community of Deer Moss Creek. The project is expected to break
ground in August of 2019 and open to the public for leasing in
January 2021. The property will offer one, two, and three bedroom
units in thirteen 3 story walk-up and 2 story town-homes with
garages. Units are proposed with bamboo floors, wood
baseboards, crown molding, granite countertops, stainless clad
appliances, European wood cabinets, and frameless shower and tub
enclosures.
Property amenities will include a club house, full fitness
facility, lighted basketball courts, sand volleyball courts,
outdoor fireplace, gazebo, grilling stations and a lighted walking
trail connecting to Niceville’s trail system. The community shares
pool and spa amenities offered by the Master Planned Development of
Deer Moss Creek.
“The Enclave is an outstanding example of our commitment to
develop stylish, yet affordable apartments in economically sound
cities,” added TCI’s CEO and President Daniel J. Moos.
In 1910, Niceville was given its name by the postmaster’s
daughter. The “friendly city” is found in northwest Florida, in the
western Florida panhandle, between Pensacola and Panama City.
Located on the north shore of Choctawhatchee Bay, major roadways
connect Niceville with nearby Destin, Crestview, Freeport,
Valparaiso, Shalimar, Fort Walton Beach, Eglin Air Force Base and
Duke Field. Everything that Destin has to offer – white sand
beaches, stupendous shopping and remarkable dining – is only a
20-minute drive thanks to the Mid-Bay Bridge connecting Niceville
and Destin.
About Transcontinental Realty Investors
Transcontinental Realty Investors maintains a strong emphasis on
creating greater shareholder value through acquisition, financing,
operation, development, and sale of real estate across every
geographic region in the United States. A New York Stock Exchange
company, Transcontinental is traded under the symbol "TCI."
Transcontinental produces revenue through the ownership and
professional management of income producing apartments and office
buildings that are "undervalued" or "underperforming" at the time
of acquisition. Value is added under Transcontinental ownership,
and the properties are repositioned into higher classifications
through physical improvements and improved management.
Transcontinental has dramatically expanded its development
capabilities associated with luxury apartment homes through its
wholly owned subsidiary Abode Properties, principally on land it
owns or acquires.
About Marin Development
Marin Development Inc., and its two main principals, Peter
Bocchino and Michael Nelson, have a combined 40 years of experience
developing mixed use and multi-family development properties. They
primarily work as fee developers for Asset Management Companies and
Institutional Investors.
As developers, they are responsible for site selection, market
analysis, coordination of architects and engineers, project
management and ownership transition. Their extensive network of
lenders, due diligence companies and architectural and engineering
firms provide the critical elements, when expertly combined, to
produce successful profitable projects to their clients.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181227005063/en/
Chris Childress, Pillar Income Asset Management469.522.4275 /
press@pillarincome.com
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