Tennessee-based Vita Residential has partnered with Holland Construction Services on a new $41.2 million apartment complex in O’Fallon, Mo., with plans for a second development in Swansea, Ill.
The Jewel Apartments, located at 9200 Veterans Memorial Parkway in O’Fallon, is comprised of more than 248,000 SF across ten apartment buildings and a total of 240 one, two and three-bedroom apartment units with eight different floor plans.
Amenities include a clubhouse building and pool, family room, fitness area, and dog park. The 16-acre complex also includes seven garage buildings with residential parking options.
“This was our first venture in Missouri and my first time working with Holland, but they came to us highly recommended and we were very pleased with the results,” said Steve Sisson, president and CEO of Vita Residential. “Because Holland was able to finish this project ahead of schedule and on budget, we had the opportunity to lease out all of the apartment units in five months, which was a record time for all of our properties.”
The Jewel Apartments were completed in the early fall of 2021 and are currently 95 percent occupied.
After seeing the success of this project, Vita Residential is now finalizing development plans with Holland on a similar 240-unit multi-family development, called The Jewel at Whispering Oaks, in Swansea, Ill., which will break ground in May of this year.
“Holland is very excited to partner with Vita Residential on their second multifamily project in the St. Louis Region,” said Doug Weber, Holland’s vice-president, multifamily housing. “Vita has a well-defined program they utilize when developing projects in various regions of the country. Our team is looking forward to applying the knowledge we’ve gained on the O’Fallon, Mo. project towards the Swansea development. We’re also working closely with Vita to consider multi-family development opportunities that may extend beyond the St. Louis market. We value the relationship and look forward to seeing what the future has in store for our two firms.”
Photo courtesy of Vita Residential/Holland Construction Services.