Construction begins on 256-apartment complex in Port Charlotte

A Wisconsin company is developing a 256-unit apartment complex in Port Charlotte, its fourth community in Southwest Florida.

Construction is under way on Springs at Port Charlotte, a $27 million project at 24151 Beatrix Blvd.

Developer Continental Properties plans a mix of studio and one-, two- and three-bedroom rental apartments in two-story buildings around a lake. The project is slated to be complete in April 2019.

Last fall Continental, based in Menomonee Falls, Wisconsin, opened Springs at Bee Ridge, a 360-unit rental complex at Cattlemen and Wilkinson roads in Sarasota. Monthly rents there range from $1,280 for a studio to $2,627 for a three-bedroom apartment.

Continental has been in the area for years. In 2001, it opened its Springs brand of rental communities with the 293-unit Springs at Palma Sola and the 270-unit Springs at Braden River. It now operates about 50 apartment properties under that name.

It sold the Braden River community last August for $38.7 million to a private equity firm from New Jersey.

Two months earlier, it paid $50.5 million for the 264-unit Lost Creek at Lakewood Ranch apartment complex.

General contractor Kaufman Lynn Construction of Delray Beach has broken ground on Springs at Port Charlotte, where amenities will include a swimming pool, fitness center and community clubhouse. Unit prices have not been released.

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