Vista Residential Partners, a national multifamily development firm, and strategic real estate development investment firm BCDC have broken ground on a 300-unit Class A workforce community in Savannah, Ga.

Riverchase Vista will sit on 15 acres at 1000 Chatham Center Drive and be part of a master-planned, mixed-use development within the Chatham Center, which will include a Class-A hotel, restaurants, and retail space. One of the first business parks of its kind, Chatham Center is concentrated around a 43-acre lake with a popular walking and jogging path.

“Savannah is a market that has seen a tremendous amount of economic growth. That growth is only going to be amplified once the Hyundai and related automotive manufacturing facilities open in 2025. Vista and BCDC were attracted to this site due to its centralized proximity to the various job centers throughout the metro,” said Michael Neyhart, Managing Director, Vista Residential Partners.

“Savannah and its booming port continue to be an economic driver for the state and the region, creating jobs and drawing people,” said Litt Glover, President and CEO, BCDC. “BCDC is honored to co-sponsor Riverchase Vista with our excellent partner Vista Residential, which has more than two decades of successful multifamily projects across the Southeast under its belt.”

The community will offer a mix of one-, two-, and three-bedroom apartment homes with stainless steel appliances, 9-foot ceilings, luxury vinyl plank flooring, in-unit washers and dryers and spacious floor plans. It will feature a luxury clubhouse, resort-style pool, fitness center, a large pet park, 24/7 package concierge and more.

Riverchase Vista continues BCDC and Vista’s strategy of developing high-quality workforce housing to meet the needs of the growing middle-income demographic. This is the partnership’s third joint-venture development.

Savannah is experiencing high demand for value-oriented multifamily housing due to the area’s economic growth. The market has attractive multifamily development fundamentals, including tight vacancies, impressive rent growth and an active investor pool.

First Horizon Bank is the lender. Niles Bolton Associates is the architect, and Flournoy Construction is the general contractor.

The partnership anticipates delivery of the first units in the first quarter of 2024.