Real estate investment firm breaks ground on multifamily housing project

St. Petersburg-based Stoneweg US launches Tuscan Reserve Apartments in Palm Coast.

By Business Observer Staff
| 4:36 p.m. March 16, 2020
| 2 Free Articles Remaining!

Stoneweg US and Summit Contracting Group executives break ground on the Tuscan Reserve Apartments project on March 12 in Palm Coast. Courtesy photo.

Tampa Bay-Lakeland

ST. PETERSBURG — Stoneweg US broke ground last week on Tuscan Reserve Apartments, a 123-unit apartment building in Palm Coast.

According to a press release, the St. Petersburg-based real estate investment and development firm expects the project to be completed in the first quarter of 2021. It will feature a wide range of desirable amenities, including a dog park, an outdoor walking/bike path, lush landscaping, a clubhouse and kitchen area, on-grounds delivery station and gazebos.

“This is the first of what I hope to be many more development projects for Stoneweg US,” Stoneweg US CEO Patrick Richard states in the release. “I’m extremely proud of what the team has accomplished thus far.”

Jacksonville-based Summit Contracting Group will oversee development and construction of the building.

“We are very excited to partner with the Stoneweg team on this development,” states Aaron Trascritti, Summit’s director of client relations, in the release. “We are looking forward to executing Stoneweg’s vision in the coming months and collaborating on future projects.”