TAMPA, Fla. (August 11, 2020) – RangeWater Real Estate announced today plans to develop The Sage at Cypress Cay, a new 324-unit apartment community in Tampa near the University of South Florida (USF) and several job centers. Construction will begin this fall and first units are expected to deliver at the end of 2021.
The fully integrated multifamily real estate company recognized an opportunity to develop high quality luxury apartments for the community at attainable price points. Located on 640 acres of wildlife at the corner of Bruce B. Downs Road and 42nd Street, The Sage at Cypress Cay is being designed as a low density development that immerses residents in the area’s beautiful natural surroundings. The land has been owned by four families over 68 years and was previously a hunting camp for recreational use. The site encompasses about 18 of the 640 acres and most of the land around the project will remain a wildlife preserve.
The Sage at Cypress Cay will provide new housing for professionals who work in one of the three nearby business parks, Tampa Telecom Park, Hidden River Corporate Park and Highwoods Preserve, or at AdventHealth, James A. Haley Veterans’ Hospital and Moffitt Cancer Center, where a $200 million expansion is planned. The three medical facilities are less than a mile from the new development.
The majority of the 324 homes will be developed as one-bedrooms, serving the young couples and single professionals in the area. The remaining homes will be two-bedrooms, along with a small number of three-bedrooms. Residents will enjoy contemporary coastal living spaces including an outdoor bar, full game room, fitness area with cardio, strength and yoga capabilities, and a clubroom lounge and kitchen.
RangeWater is known for acquiring, developing, managing and investing in best-in-class multifamily communities across the Sun Belt. For more information, visit LiveRangeWater.com.
Rendering can be viewed HERE.