ANNAPOLIS, Md., Aug. 29, 2016 /PRNewswire/ -- LMC - Lennar Multifamily Communities celebrated the groundbreaking of their latest Class A Apartment Community in Annapolis, MD. The six story 293-unit luxury rental community, expected to deliver its first units next Summer, will feature LMC's standard top of the line finishes, and an amazing suite of amenities including a rooftop pool, clubroom and lounge space, extensive fitness and yoga area, co-work Space, tranquil Zen garden, and a resident aquatic sports amenity program which will serve to compliment the great City of Annapolis.
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Annapolis is known as America's sailing capital, with access to water activities for residents, a thriving arts and culture scene, adjacency to the gorgeous Chesapeake Bay as well as being home to the United States Naval Academy.
Stuart Cain, Vice-President of Development for LMC's Mid-Atlantic Northeast region gave thanks to all involved saying "We are excited for the opportunity to weave LMC's newest community into the already vibrant fabric of Annapolis. This is the culmination of a team effort involving many parties and we are proud of the thoughtful design and development that went into this project."
Bob Hannon, President and CEO of the Anne Arundel County Economic Development Corporation praised LMC's long term commitment to the project as well as to the local community. Mr. Hannon went on to say, "The quality that LMC brings to this project and the way in which they have conducted their business here speaks to the quality that we really want in this community. We thank you for bringing a terrific project to this location. From a County perspective, this location is terrific - adjacent to the City of Annapolis, adjacent to a plethora of restaurants and retail, major medical services and major transportation, all in place to serve the residents that are going to take occupancy of this building. We think this is going to be a great project for the County, going to be a great project for the City and ultimately a significant investment in the overall community. "
LMC is also currently breaking ground on their 32 story 398 unit iconic high-rise at the epicenter of Tysons, VA adjacent to the Greensboro Metro Station.
About LMC
LMC – A Lennar Company, also known as Lennar Multifamily Communities, is a real estate investment wholly owned subsidiary started by the Lennar Corporation, one of the nation's leading homebuilders, as an initiative to combine its financial and entrepreneurial strength with favorable apartment fundamentals nationwide. Founded in mid-2011, LMC is focused on assembling a geographically diversified portfolio of institutional quality multifamily rental properties using both a development and value-add acquisition strategy in selected U.S. markets. LMC co-invests with both institutional and private equity partners, providing the partnerships with fully integrated service capabilities, including development, construction management, asset management and property management. LMC's investment strategy is a market research based approach, focusing on risk-adjusted yields on properties in quality urban, Transit Oriented Developments and suburban locations. LMC currently has 50+ communities nationwide in various stages of operation and development. More information can be found on the company's website: www.liveLMC.com.
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SOURCE LMC
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