Stark Enterprises Continues Florida Portfolio Expansion

SUMMERFIELD, FL—Stark Enterprises, in collaboration with Danny Gaekwad, continues the expansion of its residential portfolio in Florida with its latest development Summer Pointe Village. This new 454-unit, build-to-rent community will be situated on approximately 110 acres located at 16152 SE 77^th Court Road, Summerfield, FL.

The community will be split into two phases with the first delivering 252 units and the second delivering 202. Set to break ground on the first phase in the spring of 2024, the new development will consist of ranch-style homes with a focus on providing modern resort-style amenities and large, luxuriously designed floor plans with plenty of room for families and individuals to work, play, and live.

“We are pleased to announce the successful closing of construction financing with Huntington National Bank and Nuveen Green Capital for our new build-to-rent development, marking a significant milestone in the project’s journey,” says Ezra Stark, Chief Executive Officer, in a prepared statement. “This collaboration underscores our commitment to delivering high-quality, purpose-built rental housing, poised to enrich communities and foster sustainable growth.”

He adds that “With financing secured, we are thrilled to embark on our next venture with Summer Pointe Village in sunny Florida. Following the success of our build-to-rent community in Ocala, FL, our confidence in the immense demand for rental homes and the communities we craft has only grown stronger. Our goal is to provide unparalleled living spaces for residents to truly call home in the heart of Marion County. We look forward to forging deep partnerships within this vibrant community as we build something truly extraordinary together.”

Located directly adjacent to The Villages, a retirement region experiencing immense economic growth, Summer Pointe Village will fill the gap for families, empty-nesters, and young professionals looking to live in the area that do not meet the age requirement for The Villages. With convenient access to both Route 301 and I-75, the location serves as a perfect gateway to all that Summerfield and the surrounding communities have to offer.

Each unit at Summer Pointe Village is designed to blend the ease and convenience of apartment living with the comfort and ambiance of a single-family home. Featuring 1, 2 & 3 Bedroom ranch-style homes, these newly constructed residences offer sleek modern finishes and generously proportioned floor plans inside as well as expansive green spaces and a suite of contemporary amenities outside, ensuring a true sense of community. Residents can enjoy a balanced blend of productivity, leisure, and relaxation in a low-maintenance environment akin to a single-family home.

The units average 1,318 square feet and feature private patios, ample walk-in closets, as well as two-car attached garages accessed via private driveways. Complementing these living spaces, the development offers an array of amenities including a clubhouse with kitchen, coffee bar, and conference room, a dog park, state-of-the-art fitness center, fire pits, playground & multi-sport court, and a community pool with lap lanes, sundeck, and cabanas, as well as poolside grills and entertaining areas.

Summer Pointe Village will be operated by Stark Enterprises’ residential arm, Stark Living, which also manages the build-to-rent communities, West Shire Village in nearby Ocala, Florida and Oak Harbor Village in Bolivia, North Carolina, which is currently under construction. Summer Pointe Village represents its continued commitment to the bold strategy laid out by their in-house development team to break ground in as many as five new cities in the Sun Belt, delivering thousands of residential units across the region over the next few years, the release says.

“In regions undergoing rapid expansion, the demand for housing resounds loudly,” said Jon Kinne, Arbor Construction’s Vice President. “We’re dedicated to locating areas where families are growing faster than homes can rise and providing quality housing options to these communities. Our team’s commitment extends far beyond the immediate; we’re here for the long haul and remain steadfast in our mission to build beautiful, thriving communities. For us, it’s more than just construction, it’s about infusing vitality into these growing neighborhoods. Driven by our collective passion, we’re here to affect real change in the housing landscape.”