Partnership also secures financing for the 214-unit development in rapidly growing master-planned community
PORT ST. LUCIE, FL – Dec. 19, 2023 – EDEN Living started construction on its EDEN at Tradition project in Port St. Lucie’s expanding Tradition community. The development with 214 townhome-style units will bring much-needed new build-to-rent product to the growing area.
The EDEN at Tradition groundbreaking comes on the heels of EDEN Living obtaining a $55 million construction loan for the project. The lender was not disclosed.
EDEN at Tradition will include a mix of two and three-bedroom townhomes, all with two-and-a-half bathrooms, one-car garages and fenced-in backyards. Units range in size from 1,050 to 1,300 square feet. Completion is targeted for late 2025.
MSA Architects is the project designer, and Summit Contracting Group the general contractor.
Class A amenities at the project include a clubhouse, dog park, playground and a lake with a walking path. The nearly 20-acre project site is located on the northwest corner of Southwest Village Parkway and Paar Drive. Tradition master developer Mattamy Homes sold the site to EDEN.
“This is a major step towards bringing our innovative build-to-rent concept to the Tradition community,” said Jay Jacobson, CEO of EDEN Living. “The track record of our principals and unique horizontal apartment model inspire confidence in the capital markets during a time when traditional multifamily construction financing is extremely difficult to come by.”
JLL Capital Markets’ Max La Cava, Kenny Cutler and Shane Ciacci arranged the construction financing on EDEN Living’s behalf.
Port St. Lucie ranks as the fifth fastest-growing city in the U.S., according to Quicken Loans. In December 2022, Cleveland Clinic acquired 44 acres surrounding its existing hospital for future expansion. Within Tradition, Sansone Group is developing Legacy Park at Tradition, which will bring more than 10 million square feet of distribution space and 1,500-plus new jobs to the area. Notable tenants include Amazon, FedEx and Cheney Brothers.
EDEN continues to expand its footprint across Florida. It has more than 3,500 units in the development pipeline throughout the state. Active build-to-rent projects are located in Jacksonville, West Melbourne and Wildwood (near The Villages).
Jacobson and fellow experienced multifamily developers Jay Massirman and Sergio Socolsky formed EDEN Living in February 2021.
The venture develops one-story living environments (and two-story townhomes in some locations) that provide enhanced privacy, exterior living space, courtyards and private landscaped backyards. Residents will be able to access their homes with no sharing of breezeways or elevators. Projects are expected to include amenities that are on par with what is found in traditional Class A multifamily communities.
EDEN Living is actively seeking new development sites between 10 and 30 acres throughout its target markets. For direct inquiries, contact EDEN Living Director of Land Acquisition Jacky Sasson at This email address is being protected from spambots. You need JavaScript enabled to view it..
About EDEN Living:
EDEN Living is a partnership between EDEN Multifamily principals Jay Jacobson and Jay Massirman and America’s Capital Partners (ACP) Principal Sergio Socolsky. The partnership was formed to develop for rent, single-story detached horizontal apartment homes and two-story townhomes around the State of Florida and the Southeast, with future plans to expand the platform nationally. For more information on EDEN Living, visit http://www.edenliving.com.
