The Highgates Group
The Highgates Group is building high-end apartment complexes in Louisville, Ky.
By Kat Zeman, Senior Editor at Knighthouse Media
A multifamily-focused developer, The Highgates Group is bringing two high-end residential developments to Louisville, Ky. Covington by the Lake, a 264-unit, luxury apartment complex featuring a 2.1-acre retail center, is under construction. Willard at Preston Crossing, 166-unit apartment complex, was finished this year. “Both are in wonderful locations,” says Brent Hackworth, project manager.
Covington by the Lake will feature 11 buildings with a club house and pool, fitness center, garages and borders a 3-acre lake. It will also border a 19,500 square-foot retail center. “This major retail and restaurant hub in south Louisville generates heavy shopping traffic,” The Highgates Group President Joseph Waldman says. “The project is shadow anchored by Target and Jefferson Mall and is surrounded by many nationally known retailers, so we expect that the new retail space will be leased out quickly.”
Retail space available begins at 1,300 square feet and the lease rate starts at $25 per square foot. The entire project, including the apartment complex, is targeted for completion in summer 2020. “This complex is upscale and the location is perfect,” Hackworth says. “It will be right in the middle of all the action. It’s located within a large shopping mall and we’re only about only four minutes from downtown Louisville. You can almost see the Churchill Downs from the top of the third floor apartments.”
Heart of Louisville
Positioned in the heart of south Louisville, The Willard at Preston Crossing offers one- to three-bedroom luxury apartment homes. Featuring spacious floorplans, an on-site fitness center, splash park, club house and pet-friendly community guidelines, the apartment complex consists of seven buildings. Its first residents started moving in last year in spring. The project broke ground in fall 2016. The 150,000-square-foot complex offers one- to three-bedroom units.
One bedroom units start at $883 per month. Both Willard at Preston Crossing and Covington by the Lake feature high-end cabinets, granite countertops, carpets and luxury vinyl plank tile. They also have washer and dryer hookups inside the units. “We take pride in what we do,” Hackworth says. “We would live there ourselves.” Willard at Preston Crossing is within close proximity of shopping, dining and entertainment options.
A Growing Portfolio
In addition, the company recently announced another real estate development project called Highview Pointe Apartments in Louisville. Highview Pointe will feature 192 units in the Highview neighborhood of Louisville.
The apartment complex will feature one, two- and three-bedroom units with rent starting at $1,000 per month. It will feature a clubhouse, fitness center, lounge and splash park. Highgates also has two projects under development in Iowa. The first one is the Caymus Park Townhome community in Grimes.
This community offers a unique combination of small-town charm and the conveniences of a major metropolitan area. Located just 20 minutes away from Des Moines’ metro, Caymus Park is close to employment opportunities, shopping, restaurants and entertainment in both Grimes and Johnston. Residents of Grimes adore the ultimate combination of a suburban environment with urban conveniences.
Caymus Park prides itself on delivering state-of-the-art quality and design in every townhouse. In the near future, Highgates plans to build the Residences at Ironwood in Altoona, Iowa, a growing community just 15 miles east of Des Moines. The project includes two buildings that will each have 24 two-bedroom units ranging from 1,133 to 1,235 square feet and monthly rental rates estimated at $1,100.
The company plans to break ground in early September, with the first building ready for occupancy in July 2019. “The whole area is booming and I believe we’ve chosen the best location for the Residences at Ironwood,” Waldman says. “This is a boutique development of 48 units that will appeal to everyone from young professionals to empty nesters. Residents can expect luxury finishes from countertops to flooring, 9-foot ceilings, air conditioning and heating in the corridors, top of the line appliances and ‘smart’ high tech wiring throughout the buildings.”
The Highgates Group consists of three divisions: Highgates Acquisitions; Highgates Development; Highgates Property Management. The company’s founder and president, Joseph Waldman, brings decades of experience in successful commercial and residential development and construction projects to the company.
Under his leadership, the company’s portfolio has grown to include projects in Israel and North America. Although based in Toronto, Canada, The Highgates Group has numerous projects under development throughout the United States, including those in Louisville, Ky., and several in Des Moines, Iowa. “We specialize in higher-end affordable living,” Hackworth says. “We do our best to bring in projects on budget, on time and to give great service to our tenants.”
As a family-focused developer, Highgates works to create communities of distinction where families live and thrive. The company is interested in procuring multi-family zoned property between 12 and 20 acres in growing markets. The company develops and manages most of its developments.