The NRP Group Accelerates Growth in Central Florida with Opening of The Allure at Gateway and Announcement of Investment Pipeline

ST. PETERSBURG, Fla., Aug. 14, 2019 /PRNewswire/ -- The NRP Group, a vertically-integrated, best-in-class developer, builder, and manager of multifamily housing, today announced the opening of The Allure at Gateway, a premier market-rate apartment community in Pinellas Park, Fla. The opening is the latest milestone in NRP's rapid expansion in Florida, where the company is developing six new communities, totaling more than 1,700 apartments homes.

The Allure at Gateway features 274 one-, two- and three-bedroom units and compelling amenities such as a two-story residential event space with a community kitchen, resort-style pool, fitness center and conference rooms, fire pit with outdoor grilling areas, and a 24/7 package concierge.

The most densely populated county in Florida is Pinellas County and the adjacent Carillion and Gateway areas are home to more than 60,000 workers. Situated less than 10 minutes from major employment centers and corporate campuses in St. Petersburg and Tampa, The Allure at Gateway is ideally located with easy access to a vibrant metropolitan lifestyle.

"Job growth and the overall economic outlook in Central Florida continues to be robust, and The NRP Group is working to satisfy the demand for high-quality housing options by providing best-in-class rental communities," said NRP Group CEO and Co-Founder J. David Heller. "We now have three offices spread across the region in St. Petersburg, Tampa and Orlando, with 40 local NRP team members working on six active projects, and even more subcontractors, vendors and partners supporting the team.  Our commitment to Florida has never been stronger."

In addition to The Allure at Gateway, two other NRP properties will open soon in the region: Aria at Bradenton, a 302-unit development in Bradenton, Fla. and 1701 Central, a 243-unit community in St. Petersburg that also includes more than 5,000 square feet of commercial and retail space. Move-ins are scheduled to begin at Aria at Bradenton in the fourth quarter of 2019 and at 1701 Central in the first quarter of 2020.

Following these three openings, there will be another three NRP properties close behind: 300 units in Ft. Myers, 332 units in Central Pasco County and 300 units in southwest Orlando.

"The opening of The Allure at Gateway represents a prelude to more than 1,700 units coming in the near future," said Kurt Kehoe, Vice President of Development for The NRP Group. "The NRP Group has been committed to this area for almost a decade, and we are now significantly increasing our investment. We have had very good acceptance of our NRP communities in Florida, and we could not be more pleased to continue our work in providing the residents of central and southwestern Florida with more best-in-class rental communities beautifully designed and ideally located for access to work and play."

About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in- class multifamily housing. Since its founding in 1995, NRP has delivered more than 35,000 apartment homes, and currently manages over 19,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company's formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market- rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

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Barbara Dimajo
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SOURCE The NRP Group

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