Alton Lakewood apartments rendering

Your Observer, 07-31-23

Pet-friendly apartment complex slated for SR 64, Lorraine Road

A 350-unit apartment complex complete with a pet spa and running track is slated for State Road 64.

Plans for the Alton Lakewood apartments feature six spacious floor layouts ranging from one to three bedrooms. Amenities include a clubhouse with coworking office spaces, a pool, outdoor lounge, oversized fitness center, outdoor running track, dog park and pet spa.

The 28.3-acre property is located on the southeast corner of S.R. 64 East and Lorraine Road. It’s being developed by Kolter Multifamily LLC. Its parent company, The Kolter Group LLC, is a real estate investment and development firm headquartered in Delray Beach. Kolter Multifamily focuses on affordable and market rate housing.

“We’re looking for sites with proximity to employment and shopping,” Kolter Multifamily Managing Director Jeffrey Kruse said. “Obviously, Lakewood Ranch is an epicenter for both.”

Kruse said construction is expected to begin by December, but it was too soon to discuss rental rates because they typically seek guidance from the property manager and one hasn’t been hired yet.

What is definitive is that the apartment complex is pet friendly, which is not the norm for rentals. The pet spa will be connected to the onsite dog park.

“We want to be able to facilitate you being able to wash and clean your dog and make that an easy process,” Kruse said. “We’re seeing a lot of dog owners in our communities, so we’re trying to be as friendly to that as possible.”

The running track is being built around a large pond on the property. The track will measure a little over a mile long.

“Collectively, Kolter has sponsored over $24 billion in realized and in-process real estate projects throughout the southeast United States,” Kruse said. “Historically, we’ve been very active throughout Florida and particularly Southwest Florida.”

Manatee County developments in the Kolter portfolio include Oakhurst in Bradenton, Sheffield Glen in Parrish and Willow Walk in Palmetto. Sarasota projects include University Groves, Mark Sarasota, Vue Sarasota Bay and the Water Club on Longboat Key.

Plans for the Alton Lakewood apartments, a 350-unit complex featuring a pet spa and running track on State Road 64, are being developed by Kolter Multifamily LLC, under the leadership of Bobby Julien, the CEO of Kolter Group, a prominent real estate investment and development firm headquartered in Delray Beach.

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