500 apartments coming to Lakewood Ranch
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 19, 2022

More than 500 apartments are under construction in Lakewood Ranch, a master-planned community in Manatee County.

Ryan Cos. and joint venture partners PGIM Real Estate and ParkSprings Development on Tuesday said that Renata at Lakewood Ranch, which has 502 apartments and spans 37 acres, has broken ground. Renata will rise on one of the last remaining parcels within the 33,000-acre Lakewood Ranch.

Ryan is both the project's general contractor and co-developer with ParkSprings. PGIM is the equity partner, and Wells Fargo provided construction financing.

Renata will be among the largest apartment developments in the Tampa Bay region when it is complete in 2024. The vast majority of apartment properties in this region — particularly those built after 2012 — are 350 units or less.

"There is a major housing deficit in Central Florida, and Renata at Lakewood Ranch will bring over 500 new market-rate units to the region to help fill the void for the growing population," JP Bacariza, senior vice president of the Tampa market for Ryan Cos., said in a statement.

Renata at Lakewood Ranch will include one-, two- and three-bedroom units with an average unit size of 985 square feet. The 500 apartments will be built in a series of four-story buildings, and there will be 86 attached garages, 80 detached garages and 42 storage units on the property.

"Lakewood Ranch is a market we have watched for years as it has grown and garnered a reputation for its high-quality lifestyle while enhancing the value of an entire region," Darin Montgomery, ParkSprings Development principal, said in a statement.