(Read more onthe multifamilymarket.)

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PASCO COUNTY, FL-Hollywood, FL-based JL Real Ventures isplanning to break ground in the first quarter of 2008 on a$36-million, 288-unit "green" garden-style apartment complex on16.9 acres at Rowan and Bailey roads. JL Real Ventures managingpartner Jordan Kavana tells GlobeSt.com that the project iscurrently in the entitlement process so many details have not yetbeen finalized.

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The complex will contain two-, three- and possibly four-storybuildings. Among green features will be energy-efficient windowsand a zen garden. "We want to create a meditative-typeenvironment," Kavana says. "The idea is to set ourselves apart fromother apartment complexes in the area."

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The project is expected to be completed within 18 to 24 monthsafter groundbreaking. Rents are expected to be approximately $1 persf.

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Kavana, who is joined in JL Real Ventures with Larry Baum, saysthe location was selected because Pasco County is experiencingtremendous growth, particularly in the retail sector, with seven oreight large commercial projects currently under construction. Theproject site is on heavily traveled roads within the county. "PascoCounty has traditionally been a retirement community, but we thinkyounger people will begin moving into this area," Kavana says. "Thelocation of the project is ideal. It will be on very busyroads."

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