The community features 344 units.

The move is part of a larger troubling trend.

The company sees the move helping grow its entire portfolio passed $2 billion.

“This project will create a transformational change for the residents of the entire Northeast Region.”

This isn't the only problem Penn-Florida faces.

The e-commerce giant will occupy 304,000 square feet of space.

The two's initial target will be scattered across various national regions.

Most of the financing ($80 million) comes via a bridge loan.