A major Southeast developer is making another move in Tampa Bay’s booming multifamily market.
Carter, an Atlanta real estate firm with a long track record in the region, has announced Prospect Highland Oaks, a new 324-unit luxury apartment community planned for the Brandon submarket.
The project is being co-developed with Brook Farm Group and aims to meet rising demand for high-quality housing on Tampa’s east side.
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The site sits less than a mile from the regional hubs for JPMorgan Chase and Citigroup, which together employ more than 7,500 workers.
The area has seen strong in-migration, fast employment growth and limited new supply. Carter says the project is built for these conditions, with commuter access at its center.
What happened
Carter confirmed it will co-develop Prospect Highland Oaks, a 324-unit luxury community near the I-75 and Route 574 interchange.
The project will be garden-style and designed for residents who want modern amenities, strong connectivity and access to nearby employment centers.
Jerome Hagley, the company’s COO and CFO, said Prospect Highland Oaks reflects Carter’s focus on “thoughtfully designed” developments that support surrounding neighborhoods.
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The firm is partnering with Brook Farm Group, Mill Green Capital and Fundrise, with Ameris Bank providing construction financing. Oxford Properties will serve as the general contractor, and Preston Partnership will serve as the project architect.
Carter has delivered several well-known Florida projects, including NINE15 in downtown Tampa, The DeSOTA in Sarasota, Story Wesley Chapel and Story Lake Gibson.
Prospect Highland Oaks is their latest effort to expand in the Tampa Bay market and other high-growth communities across the Southeast.
What’s happening now
The development is still in its early stages, but is positioned to benefit from strong macro trends:
- Hillsborough County continues to rank among the fastest-growing counties in Florida
• Brandon’s east-side corridor has limited new multifamily supply
• Strong demand stems from major employers and is sustained by in-migration
• Walkable access to JP Morgan Chase and Citigroup creates a built-in renter base
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As financing tightens nationwide, projects that offer clear demand drivers, strong locations and experienced sponsors are gaining more attention from equity partners.