In a deal that reflects all of the attributes of the Continental DNA, our Springs development team has brought a new Springs community to groundbreaking in the Chicago suburbs.
Continental Properties has a number of apartment communities under construction throughout the country. It is gratifying to see our hard work turn into someone's new home, and the first move-in's in a new community are always special. Springs at Cottonwood Creek in Waco, Texas was buzzing with activity on May 16th as the doors were opened for several new residents. We are proud to be in such a busy community.
Continental Properties started the month of March with the addition of two new Springs communities to our growing portfolio.
Continental Properties has a number of apartment communities under construction throughout the country. It is gratifying to see our hard work turn into someone's new home, and the first move-in's in a new community are always special. Springs at University Drive in Bryan, Texas was buzzing with activity on January 14th as the doors were opened for several new residents.
On behalf of Springs Team 1, I am pleased to announce that Continental has closed on the acquisition of 17 acres of land in Colorado Springs, Colorado, which is the future site of Springs at Allison Valley.
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.
I am excited to announce the closing of the first Springs community in the Orlando metro area. Springs at Tapestry is (Tapestry is the name of the master planned community we are a part of) is located in the City of Kissimmee, Florida! When complete, the community will have 288 apartment homes in 13 buildings on 22 acres of land near the southeast corner of Dyer Boulevard and Carroll Street.
Springs at McDonough is our latest new addition to the Springs portfolio of apartment communities. Located on roughly 38 acres of land near the northwest corner of State Route 20 and State Route 81 in McDonough, Georgia, this community will have 268 apartment homes.
We are so excited to be moving residents in to our beautiful first building at Springs at Bee Ridge in Sarasota, FL! The operations team is grateful to our world-class development team who found an amazing location right off I-75 in the heart of a very desirable area of Sarasota. The design team did a fantastic job, and the residents are thrilled with the gorgeous interior design complete with high quality finishes including all granite counters and stainless steel appliances.