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September 27, 2021

Aventon begins construction on new Florida apartment community

The 396-unit community will comprise ten garden-style buildings designed by Scott + Cormia Architects.

US-based real estate developer Aventon Companies has broken ground on Aventon Clearwater, an apartment community within the Tampa area submarket in Clearwater, Florida, US.

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Located on US-19 North, the 22-acre Aventon Clearwater project is being developed through a joint venture (JV) with private equity firm FCP.

The 396-unit apartment community, situated near major employers, beaches and shopping destinations, will comprise ten garden-style buildings with one, two and three-bedroom spacious floor plans.

Scott + Cormia Architects designed Aventon Clearwater’s buildings, with interiors due to be finalised by Beasley & Henley Interior Design.

Aventon Companies vice-president of development Burk Hedrick said: “We are thrilled to be able to begin construction on our newest project in Florida, especially during a time when high-quality rental housing is sorely needed.

“We look forward to becoming a trusted brand for high-quality living in Pinellas County for many years to come.”

Covering an area of over 8,000ft², the amenity space includes a fitness centre and yoga studio, coffee bar, pet spa and poolside lounge.

Some of the outdoor spaces include a private resort-style pool, cabanas and day beds, hammock garden, outdoor kitchen, walking trails and a dog park.

Aventon Clearwater will also comprise on-site offices and associated communication spaces.

The project adds to the company’s portfolio of more than 2,600 modern apartment units in the Sunshine State.

In under three years, the company has assembled a portfolio of ground-up developments of around 6,000 Aventon-branded apartment homes in Florida, Georgia, the Carolinas and the Mid-Atlantic.

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Internet of Things set to transform the construction industry

The Internet of Things (IoT) is proving hugely beneficial to the construction industry, allowing different assets and people to be monitored and accounted for across a traditionally fragmented industry. As a result, companies that invest in IoT now promise to make long-term gains in the industry. According to GlobalData forecasts, spending on IoT in construction will reach $9.6bn by 2025. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers. In addition, it allows real-time data streams of assets, automates time-consuming tasks, and ensures employee safety and productivity. IoT integration with equipment manufacturing also has rich advantages for asset monitoring sensors. This, combined with artificial intelligence (AI) can help forecast materials and workers needed during the procurement stage and assist in forecast financing. Read GlobalData’s whitepaper to find out more, including information on:
  • IoT value chain
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Leading IoT adopters in construction
  • Specialist IoT vendors in construction
Don’t get left behind – find out how IoT can fortify your operations and make investments now.
by GlobalData
Enter your details here to receive your free Report.

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