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Madison Communities Breaks Ground on Madison Watergrass in Tampa, FL

Madison Capital Group, a FrontRange platform company, announced it recently broke ground on the Madison Watergrass development in Wesley Chapel, FL (Tampa MSA). FrontRange committed $22.5 million of LP equity for the development. The following press release contains additional details on the transaction.

CHARLOTTE, NC – Madison Communities, an affiliate of Madison Capital Group, has recently broken ground on 288 units located in Wesley Chapel in Suburban Tampa, FL. Located in the Crossroads area, the community will be called Madison Watergrass and construction will begin in September.

Madison Watergrass will feature 288 units incorporated into 8 buildings (4 & 2 stories). Project amenities will include luxury unit finishes, integrated clubhouse with fitness center, outdoor lounge with summer kitchen, a resort-style pool and pool deck with grilling stations and cabanas. The project will be delivered by Benco Construction, Madison’s affiliate general contracting group.

“We remain very active in the Florida markets, as well as across the Southeast region, recently acquiring sites in Bonita Springs, Ruskin, St. Augustine, and Jacksonville,” said Ryan Hanks, CEO of Madison Capital Group.

The project was capitalized with FrontRange Capital Partners located in Denver, Colorado.

About Madison Communities

Madison Communities is based in Charlotte, North Carolina and focuses on the development and management of suburban garden apartment projects throughout the Sunbelt and has offices in Charlotte, Nashville, Orlando, Atlanta, Dallas, and Charleston.