Indianapolis-based multifamily manager and developer Milhaus is expanding its reach into Florida’s Tampa, St. Petersburg, and Bonita Springs multifamily markets.
The firm is targeting Tampa’s Ybor and Seminole Heights neighborhoods as good candidates for new development and acquisition, as well as the Warehouse Arts District, Grand Central, and Edge in St. Petersburg.
Milhaus selected its target markets based on their recent influx of prime millennial renters and a corresponding demand for multifamily and mixed-use residential properties.
“Given the incredible population growth in Florida, which is predicted to rise to 26 million by 2030, there’s a great need for mixed-use development to house the individuals moving into this market,” said Tadd Miller, CEO of Milhaus, in a statement. “Our philosophy that the right development can and should improve the neighborhood around it will guide our expansion in Florida, and we’re excited to bring this type of product to several urban-core locations throughout the state.”
Milhaus specializes in Class A urban infill, mixed-use, multifamily residential buildings. It has over 11,400 apartment units under management and in development, and aims to grow to 20,000 units with a market value exceeding $4 billion by 2020.