— Ocala, Florida
New Built-To-Rent Residential Project, West Shire Village, Begins Construction in Ocala
In a move that signifies a substantial investment in its residential portfolio, Stark Enterprises will celebrate with a groundbreaking ceremony on April 20th on West Shire Village, a 416 unit, built-for-rent community situated on approximately 71 acres located off HWY 200. The new development will be comprised of ranch-style and townhome units with a focus on providing a walkable, amenity-rich neighborhood that caters to residents in all stages of life. The community will be operated by Stark Living – Stark Enterprises’ residential property management arm, which currently manages a diverse portfolio across multiple states.
“We’re very excited about growing our presence in Florida,” said Chief Operating Officer, Ezra Stark. “Having successfully built and operated our student housing developments in nearby Gainesville, we feel comfortable with our knowledge of Marion County and are amazed at just how strong the market is in the surrounding area. We’re looking forward to becoming a part of the Ocala community and offering great spaces for residents to call home.”
Each unit is designed to offer the convenience and worry-free lifestyle of apartment living with the look and feel of a single-family home. Units range in size from one to three bedrooms averaging around 1,250 square feet and will include a front porch, rear patio, attached two-car garage, and private driveway. In addition, the development will have a robust amenity package that will include a resident clubhouse with party room, co-working offices, conference room, outdoor grilling and eating area, pool with sun shelf, lap lanes, and lounge area, a multi-sport court, state-of-the-art fitness center, movement studio, children’s playground, dog park, and more.
Stark Enterprises will host a groundbreaking ceremony for West Shire Village on April 20th at 3pm. The team at Stark Enterprises’ construction arm, Arbor Construction, is targeting delivery of 230 units as part of a 41 acre phase one to be completed in the summer of 2023, with the first set of units available in winter of 2022 and pre-leasing set to take place a few months prior. The second phase of 186 units on 30 acres, which will bring the entire project to 416 total residential units and 71 acres, will be completed in 2024. West Shire Village is in Marion County, located at 7120 SW HWY 200 Ocala, Florida 34476, just north of SW 95th Street Road.
“West Shire Village combines the best of both worlds,” said Brian Weisberg, Vice President of Residential Operations at Stark Living. “Residents will get to enjoy all the fantastic amenities we’ve come to expect from apartment living in a spacious single-family home setting. It’s going to be a really special experience for future residents.”
Additionally, Stark Enterprises has mapped out plans to use West Shire Village as a launchpad to replicate this built-to-rent community concept in other cities throughout the Sun Belt. Their in-house development team has laid out a bold strategy to break ground in as many as five new cities encompassing a few thousand residential units across the region over the next few years. With that level of expansion, the company has also taken preliminary steps to establish a satellite office in the vicinity to better manage its growing presence in the area.
“People need housing right now,” said Jon Kinne, Vice President of Arbor Construction, “especially down south in up-and-coming cities like Ocala. We’re working hard to identify areas best suited to help serve these growing communities and recruit the best people to help make that happen. Arbor Construction is excited to connect with the Ocala market and has already engaged in hiring local employees and subcontractors. Our goal is to be a long-term invested partner in the community while providing a new, unique option for residents.”
Financing for this project was provided by KeyBank Real Estate Capital. For more information about Stark Living go to starkliving.com, or for West Shire Village go to westshireocala.com.
About Stark Living
Stark Enterprises Residential arm known as Stark Living was founded in 1982 in Cleveland, Ohio, and specializes in the asset management, development, and operations of multifamily communities throughout the U.S. Stark Living has extensive experience in a range of asset classes that include Affordable, Student, Conventional and Work Force housing. Stark Living continues to grow in all emerging markets across the United States, and its success is a direct reflection of our unwavering commitment to our residents and amenity programing that brings them all together. For more information, visit starkliving.com.
About Arbor Construction
Established in 1980, Arbor Construction is a wholly-owned subsidiary of Stark Enterprises in Cleveland, Ohio. As its in-house construction arm, Arbor, a full-service General Contractor, and Construction Management company, plays a pivotal role in development, from early conceptual design to budgeting, scheduling, and construction management including estimating, pre-construction, project management, and field supervision. Arbor maintains a strong portfolio of project experience ranging from Civil/Site Construction, Retail, Multifamily, Mixed-use, Office, Theaters, Hospitality, and more. For more information, visit arborconstruction.com.
