By Candice Chandler
Photography by Henniker Photography
The demand for rentals is extremely high due to the almost nonexistence of mortgage loans resulted from the bubbling housing market throughout the past years. With over 4,000 apartments under their belt, The Related Group is now one of the keynote forces handling apartment construction in Florida. Pierhouse is a 356-unit project with four, fourstory wood frame structures and 4,800 leasable square feet dedicated to potential renters looking for an affordable way to live in luxury. The project offers prospected buyers uniquely designed apartments available for rent right near waterfront scenery, giving the units a more elegant feel.
“The Channelside District, where the project is located, has a long history as a working waterfront and still is home to Tampa’s port,” Explained Arturo Peña, vice president for Related Development. “We wanted to pay tribute to that past and did so though various design elements — most notable the metal ‘smokestack’ features at several key locations of the project’s exterior.”
Although the housing market is seeing a notable uplift just in time for spring selling season, the need for new, updated apartments are still valuable on the market. With Pierhouse, The Related Group hopes to attract a strategically targeted consumer profile in the Tampa, Florida area.
Spanning 322,941 square feet in its entirety, Pierhouse also includes green features to enhance the project suitable for renters with aims to manage energy and water. With these features, The Related Group hopes to add extra value. They’ve also included an urban park located on the developments grounds.
“We always strive to incorporate as many green principles as possible in our projects,” noted Peña. “This project includes high SEER air conditioners and low-E glass in all units, water-saving plumbing fixtures and significant green space in the form of an urban park.” Going green is a process that many builders are taking seriously, and the new affordable housing project developed by The Related Group is incorporating green features while also including aspects that enhance the overall appeal of the frounds.
“We always say that in order to have a successful project, our projects need to improve the communities they are in. Pierhouse brings more residents to an area that is growing more and more popular as it reaches critical mass. We are proud to play a part in this. Additionally, in full development such as this reduces the negative environmental impacts from autos,” explained Peña.
Although The Related Group has hopes of drawing renters to their new development, their goal isn’t just limited to leasing units. The structure of the project is set to improve that community it stands in, adding a sense of unity to the surrounding area. As the near-by community grows more and more popular, Pierhouse is also beneficial to the environment, reducing the amount of fossil fuel emission from cars due to its strategic location.
Depsite that Pierhouse has finally begun leasing units, there were challenges that were met, and solved. Working close with the city its located in, The Related Group had to problem solve since the development was located in between two city blocks with a dilapidated, unused road smack in the middle. Careful land planning and constant communication with the City of Tampa were one of the ways The Related Group combatted the problems during development.
“The property is actually comprised of two city blocks, formerly divided by a rarely used public road,” said Peña. “Through working closely with the City, the road was vacated to make room for a public park with some great pieces of artwork, a win-win for both the project and the neighborhood.”
Since Florida is known for possessing gorgeous waterfront properties, The Related Group had hopes of adding other features to enhance the appeal of Pierhouse. In collaboration with the City of Tampa’s Art Program Division and The Related Group’s own in-house curator, art pieces are now being included throughout various points around the grounds of the project.
“We are very excited about the public urban linear art park at the heart of Pierhouse,” explained Peña. Local artists were allowed to present pieces to be considered for enhancing certain focal points throughout the development. The addition of these creative features only add to the uniqueness of the development.
The Related Group and Related Development, LLC isn’t going to stop with Pierhouse. The company is already under-construction on five additional multifamily developments set to add even more rental opportunities for locals. Although the market is on the rise, The Related Group is sure to deliver unique waterfront properties for the Echo Boomer era.
“Related Development, Related’s market-rate apartment division has 12 projects in the pipeline with over 4,000 units. As the Echo Boomer generation continues to choose renting over buying, we remain to be bullish on the rental market,” stated Peña.
The rental sphere of the housing market is set to remain dominant, however the rise in demand for new homes is also on the rise. The Related Group, as well as Related Development, will continue to develop much sought-after apartment complexes geared toward the Echo Boomers and those in search of affordable housing.
Candice Chandler is an assistant editor for Peninsula Publsihing. She may be contacted via email at email@example.com.