280-unit complex to break ground in Venice
By Henry Queen
Tampa Bay Business Journal
Published: Oct 7, 2024

Altera Jacaranda, a new multifamily development in Venice, is expected to break ground this month and open in 2026.

The 280-unit garden-style complex is being developed by Atlanta-based Wood Partners, one of the nation's largest multifamily real estate developers and managers. The complex will have an attainable rental price point, according to a release.

"Our new development fosters economic growth and introduces a first-of-its-kind concept in the area," said Tyler Hurd, managing director at Wood Partners, in a release. "As one of the fastest growing areas in the country, we are committed to meeting the demand for attainable housing with quality multifamily solutions."

Wood Partners will work the local government to transform the three-way intersection of Commerce Drive and Jacaranda Boulevard to a four-way intersection to improve traffic flow, according to a release.

The company has several other properties in the Central Florida submarket, including its first under the attainable Altera brand located just north of Tampa. Construction began on that project (Altera Land O’ Lakes) earlier this year.