ISLA Antigua Apartments on Anastasia Island
ANCIENT CITY’S NEWEST APARTMENT COMMUNITY IN COASTAL ST. AUGUSTINE.
THE PROJECT: In October 2017, Catalyst Development Partners closed on 16 acres just across the St. Augustine bridge along intracoastal area of Anastasia Island. In December 2017, Catalyst broke ground to commence development on this new 248 unit, Class A community to feature one, two and three bedroom apartment homes ranging from 748 to 1,387 square feet of living space. At a projected development cost of $38.5 million, this luxury apartment community neighbors future retail projects and single family homes within the master development called Antigua on Anastasia Island.
THE CATALYST: St. Augustine presents a wealth of development opportunity for Catalyst Development Partners, which is why this particular project was pursued with great enthusiasm. St. Augustine is a thriving, eclectic market that attracts professionals, students and families. Just across the intracoastal waterway, Anastasia Island is highly accessible and exclusive in nature; yet there are no new multifamily projects in the area, and there is pent up demand in the community for luxury apartments. For residents, living on Anastasia Island presents an ideal location with access to the beach and intracoastal waterway. Just minutes across the bridge, Flagler Hospital presents residents with outstanding healthcare, plus a growth market of job opportunities within the St. Augustine area.
Isla Antigua was distinctively designed with contemporary styling and hi-tech advances. Apartment interiors feature high-end finishes including: granite counters, subway tile backsplashes, two-tone cabinetry, and wood-inspired plank flooring. Floor plans incorporate gourmet kitchens and islands with pantries, stainless steel appliances, walk-in showers, nine-foot ceilings, spacious closets, full-size, front-loading washers and dryers in all units, plus balconies and outdoor patios to maximize views from all units.
Community amenities include a resort-style pool, sunset beach with fire pits and hammock lounges, an outdoor kitchen with gas grill stations and pub style seating. The Resident Clubhouse features a central kitchen, full media lounge with complimentary WiFi, gourmet coffee and refreshments, co-working business spaces and designated conference room, entertainment lounge with billiards and shuffleboard, concierge dry cleaning and parcel services, bike storage, plus a dog grooming spa. The onsite Fitness Club eliminates the need for a separate gym membership for residents to feature comprehensive strength and cardio devices with interactive components, rotating rock wall, a separate Yoga/Spin room, plus Fitness On Demand classes and opportunities for group workout sessions. As a pet-friendly community, Isla also includes an expansive bark park with ample green space for all residents to enjoy outdoor living. Not to be overlooked is Isla Antigua’s perfectly situated boardwalk which leads to an extended dock with direct resident access to the Intracoastal, which includes a kayak launch.
RESULTS: The 16-acre site, located at 655 West Marina Cove Drive enjoyed first resident move-ins in July 2019 and experienced rapid leasing velocity since opening. Final delivery of all resident amenity spaces was complete in December 2019. Setting a record pace in the market and across the Catalyst portfolio, Isla was 92% leased - in roughly 6 months since opening - and hit full occupancy by June 2020. On June 18, 2020, at 100% leased, West Shore purchased Isla Antigua from Catalyst Development Partners.
LEARN MORE ABOUT ISLA ANTIGUA APARTMENTS - ISLAAPTS.COM.
