Wyoming has so many things to offer. It plays host to bison, Grand Teton National Park, and of course, Old Faithful, which is why Continental thought it would be the perfect location for a Springs Community. However, we chose a different Wyoming. Springs at the Reserve is a brand new, 300-unit community located in beautiful Wyoming, Michigan.
We are pleased to announce that Springs at McDonough has reached stabilization. Featuring 268 apartment homes, Springs at McDonough offers many amenities including a 24-hour fitness center and resident lounge, a large pool deck, and a great grilling area.
There are thousands of multifamily owners and developers. However, only a handful of companies develop, own, and operate their apartment communities; Continental is one such company. In 2017, Continental developed 3,140 apartment homes making us the 8th largest developer of apartment homes in the nation.
We are pleased to announce that Springs at Orchard Road has reached stabilization. This community is one of five communities in Illinois, bringing the total home count to 1,432. Featuring 300 apartment homes, Springs at Orchard Road features one of our newly designed clubhouses with a 24-hour fitness center and resident lounge, enlarged pool deck, and a great grilling area.
November was a strong month for the Continental team, specifically for our expanding Florida portfolio. Continental purchased a combined total of 48 acres split between two communities. The 256 unit Springs at Port Charlotte in Port Charlotte, FL and the 304 unit Springs at Tradition in Port St. Lucie, FL are welcome additions to our growing Florida portfolio.
In a very busy few days, Continental added two new Springs communities to our growing portfolio. Springs at 2534 in Johnstown becomes our third community under construction in the Denver metro, and Springs at Sunfield in Buda adds to our growing Texas portfolio, becoming our third community under construction in the Austin area.
On June 7, 2017 Continental closed on the acquisition of 14.7 acres in Sun Prairie, WI for our newest Springs apartment community. The site is located in a high growth corridor with immediate access to new retail, restaurants and other resident amenities. Upon completion the project will have 228 homes.
Continental Properties started the month of March with the addition of two new Springs communities to our growing portfolio.
Please join me in congratulating Gwyn Wheeler on her promotion to Development Director. Gwyn joined Continental in 2012 as a Land Planner, assisting with site planning and early reconnaissance on multifamily developments. Gwyn has since held the titles of Development Coordinator, and most recently, Development Associate. Gwyn has managed some difficult projects and has proven herself as a key member of the Development Department.
Gwyn has been instrumental in mentoring numerous individuals within the company, sharing her technical knowledge of our Springs product along the way. There are a lot of people who call Springs home due in large part to Gwyn’s efforts in permitting successful developments, including residents of Springs at University Drive, Springs at Waukee and Springs at Creekside.
Springs Team 2 has the pleasure of announcing the purchase of land on November 8 which will ultimately be a 203 apartment community on 14.31 acres in Estero, Florida. It will be called Springs at Gulf Coast. Estero, a village in Lee County, Florida, is part of the Fort Myers/Naples market. The location, which happens to be across the street from Springs at Estero, offers nearby entertainment, shopping and dining. The site is adjacent to Germain Arena which is the home of the Florida Everblades ECHL hockey team and frequent concert events. Miromar Outlets, with over 140 shops and restaurants is also within eyesight of the community. Florida Gulf Coast University is less than a mile away, and Hertz's new World Headquarters (opened in 2015), is just 3 miles away.