Hazel by the Galleria in Dallas will feature 398 luxury rental units.
Courtesy ZOM Living Hazel by the Galleria in Dallas will feature 398 luxury rental units.

Multifamily developer ZOM Living had an active first quarter of 2021 with a pipeline of development, acquisition, and finance activity. The Orlando, Florida-based firm closed out the period with 5,500 luxury multifamily and senior housing units under development. It has plans to break ground on 10 multifamily communities this year and to deliver another six communities.

As part of its business strategy, ZOM Living also is preparing for the disposition of eight Class A communities built over the past four years in Florida, Maryland, and North Carolina to help fuel future investment as it expands its footprint in the nation’s fastest-growing cities.

“Despite the challenges our country faced over the past 18 months since the pandemic begun, ZOM Living has doubled down on its investment in building highly desirable rental apartment projects in major cities across the U.S. experiencing steady population growth,” said president and CEO Greg West. “ZOM Living has built a successful track record developing quality residential projects over its 40 years in business. Today, we continue to deliver on our mission to build highly amenitized rental properties in the U.S.’s most vibrant urban and suburban communities.”

The developer currently has active multifamily developments in major metros in Arizona, Florida, Maryland, North Carolina, Texas, and Virginia.

In January, ZOM Living announced its entrance into the Arizona market with a $500 million investment to build up to 1,600 units across the Phoenix metro. The developer also is growing its presence in the Texas market, where it has been active for 20 years. In February, the firm acquired 3.5 acres to build Hazel by the Galleria with 398 luxury multifamily units near the Galleria Dallas and delivered Atelier, a 417-unit apartment tower in the Dallas Arts District. It also is building Mezzo, a 378-unit garden-style community in Dallas, which is expected to be completed later this year.

In the Florida market, ZOM Living is building Bezel at Miami Worldcenter, a 43-story, 434-unit multifamily tower in downtown Miami, and MiLine Ludlam Trail, a 338-unit mid-rise development along Miami’s Ludlam Trail. It also started construction on Azola South Tampa, a 214-unit multifamily community that will deliver in mid-2022 to help meet market-rate rental housing demand in the Tampa Bay area.

The developer also has created a business division to cater to aging adults who are more active and attracted to urban living. ZOM Senior Living has three developments under construction in Florida: Watermark at Coral Gables with 196 units, including independent living, assisted living, memory care, and 50,000 square feet of amenities; Watermark at West Palm Beach, a 154-unit community with independent living, assisted living, memory care, and 30,000 square feet of amenities; and Wellington Bay in Wellington, featuring 283 apartments and a 65,000-square-foot clubhouse.