Construction has begun on a new US$35 million Holland Construction Services multifamily building. They see the new complex as a great fit for Wentzville, Missouri. TriStar Properties of Creve Coeur is going to build the apartment complex on a 13-acre site at 10 Cox Lane in Wentzville. Heartland View, a 225,000-square-foot project, will include 201 units spread over seven three-story apartment buildings. Separate structures will house 52 covered parking spots, an in-ground pool, an outdoor living area, a fitness studio, and a 3,600-square-foot leasing office. TriStar Properties has largely concentrated on industrial development, most notably the 2,300-acre Gateway Commerce Center in Edwardsville.
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Holland Construction Services, headquartered in Swansea, is the project’s construction contractor. Work began in early September and is expected to be finished by the end of 2022. Barnett Design Studios, based in Nashville, Tennessee, is the architect. TriStar also built the 254-unit Alinea at Town and Country, which sold in 2017 for US$58 million, and Bramblett Hills, a 204-unit development in O’Fallon, Missouri. Barnett Design Studios, located in Nashville, Tennessee, is the project’s architect.
According to Mike Bowerman, co-founder and principal, the company’s latest Holland Construction Services multifamily building will be a wonderful match for the bustling Wentzville region, which is one of Missouri’s fastest-growing towns. TriStar had to fight for the location, which is right off Wentzville Parkway’s major roadway and across the street from Heartland Park and Holt High School. The apartment complex is easily accessible from Interstates 64 and 70, and it is adjacent to the shopping center Wentzville Crossroads and SSM Health St. Joseph Hospital, a significant employer in the region.
“TriStar Properties had a great time collaborating with Gershman Investment Corp. on this acquisition. Adam and his staff assisted us in moving through this process as quickly and smoothly as possible. I would strongly suggest GIC to anybody wanting to finance a project using HUD-insured multifamily loan programs “said Matt Towerman, TriStar Properties’ Executive Vice President and Principal.
