Waypoint Residential LLC, a vertically integrated real estate investment management firm and sponsor of private placement offerings, plans to develop The Walcott Jeffersonville, a 214-unit Class A multifamily property that will be located in Jeffersonville, Indiana in the Old Jeffersonville Historic District opportunity zone. Financial terms were not disclosed.
“The Walcott Jeffersonville is our second investment in the greater Louisville MSA, and our first in Jeffersonville,” said Scott Lawlor, chief executive officer of Waypoint Residential. “The City of Jeffersonville’s revitalization strategy, in the broader context of a diverse and growing economy in the MSA, presented a compelling investment opportunity. It is a deal we had under contract before the opportunity zone designation, which is an added benefit.”
The Walcott Jeffersonville will be located in Historic Downtown Jeffersonville directly across the street from the Big 4 Station Park and will include a mix of studio, one-, and two-bedroom units. Property amenities will include a pool, fitness center, automated parcel system, pet spa, Internet café, and an indoor-outdoor rooftop terrace overlooking the park and the Ohio river.
Construction of The Walcott Jeffersonville is targeted for completion in mid-2020.
Waypoint Residential acquires and develops conventional multifamily, student housing and senior housing properties throughout the United States. Founded in 2011, the company said that its investment activity totals exceed $3 billion across more than 22,000 units.