Despite a challenging environment for developers and a substantial drop in multifamily starts, Continental Properties is taking a long-term approach and breaking ground on over 3,500 apartments this year.
According to the national developer, headquartered in Menomonee Falls, Wisconsin, this marks the second-highest annual groundbreaking total in its history and positions it to address housing needs as conditions improve and demand increases in 2026 and beyond.
“While other companies may view the current market as challenging, we see opportunity,” said Kim Grimm, chief development and construction officer. “Our latest groundbreakings coincide with Continental’s 45th anniversary, reflecting nearly half a century of growth, market insight, and disciplined investment strategies that continue to guide our unique approach to real estate development. The need for new, quality rental housing has never been greater, and we are committed to increasing housing availability and providing rental options for individuals and families across the country.”
Spanning from Florida to Michigan, Continental’s new developments include seven under its Spring Apartments brand that focuses on townhome-style living; five under its Authentix Apartments multifamily brand; and Lake Cook Crossing, a transit-oriented apartment community.
The developer broke ground on the 336-unit Authentix South Elgin in South Elgin, Illinois, on Oct. 3, while it’s breaking ground on the 280-unit Springs at Willow Creek in Canton Township, Michigan, and the 254-unit Lake Cook Crossing in Deerfield, Illinois, this week.
“Our final groundbreaking in 2024 comes on the heels of announcing the closing of our third real estate development fund, Continental Properties Real Estate Development Fund III, underscoring the effectiveness of our investment strategy,” said chief financial officer Ed Madell. “At Continental, we remain dedicated to creating vibrant, high-quality communities that meet the evolving needs of our residents and driving long-term value for our investors.”
According to the developer, it focuses on suburban, middle-income developments that are driven by favorable long-term demographic trends and the increasing cost of homeownership. Its communities also tackle the nation’s affordability challenges and help meet the need for attainable housing for middle-income households.
The remaining projects that got underway earlier in the year include:
- The 288-unit Authentix Bettendorf in Bettendorf, Iowa;
- The 288-unit Authentix Huber Heights in Huber Heights, Ohio;
- The 264-unit Authentix Spring Hill in Hernando County, Florida;
- The 276-unit Authentix Town Creek in Lenoir City, Tennessee;
- The 196-unit Springs at Ashby in Collierville, Tennessee;
- The 296-unit Springs at Colonial in Memphis, Tennessee;
- The 284-unit Springs at Five & Main in Commerce Township, Michigan;
- The 328-unit Springs at Locust Grove in Locust Grove, Georgia;
- The 280-unit Springs at Mishawaka in Mishawaka, Indiana; and
- The 147-unit Springs at Mundelein in Mundelein, Illinois
“As Continental Properties enters its 46th year, our outlook for future opportunity and success remains as bright as ever,” added co-founder and CEO Jim Schloemer, who also serves as chairman of the National Multifamly Housing Council. “With a strong pipeline of attractive projects on the horizon, Continental Properties is well positioned to continue leading the charge to provide rental home communities for working individuals, families, and seniors for years to come.”
Since its founding in 1979, Continental has developed over 133 communities with over 35,000 units in 20 states.
