Vista Residential Partners, a national multifamily development firm, has broken ground on 15.6 acres on the corner of Northeast corner of West Main Street and Thornwood Drive in Newark, Ohio for the development of Trailhead Vista, a 308-unit apartment community.
Trailhead Vista benefits from its proximity to multiple significant employment hubs. Intel’s 1,000-acre site (less than 20 minutes from Trailhead Vista) is currently under construction on a $20 billion chip fabrication plant which is projected to create 3,000 full-time Intel jobs and 7,000 construction-related jobs over the course of its build-out (initial phase scheduled completion: 2028). Additionally, Trailhead Vista is located along the Thornwood Corridor Employment Hub (“TCEH”). TCEH is comprised of five industrial parks which total over 1,600 acres (with an additional 500 acres available for industrial development), 10 million SF of existing industrial space, and over 8,500 employees.
“We are incredibly excited to start construction on this landmark development in Newark,” says Lee Novak, Chief Development Officer for Vista Residential Partners. “We’re excited to deliver the first institutional-quality development in Licking County to service the pent-up demand for high-quality apartment living.”
Designed by Columbus-based architect ArchAll, the garden-style apartments will feature an elevated living experience not currently offered in the submarket: stainless steel appliances, 9-foot ceilings, granite countertops, tile backsplashes, vinyl plank flooring, and in-unit washers and dryers. Trailhead Vista will also feature an expansive clubhouse, resort-style swimming pool, fitness center, a large central green area and a pet park. Trailhead Vista will also offer access to the TJ Evans Trail, a 14.2-mile trail connecting Newark and Johnstown.
“Alongside our institutional capital partners, Vista is excited to deliver this high-quality development in Newark, Ohio,” says Scott Hartley, Chief Investment Officer at Vista Residential Partners. “Trailhead Vista’s finish-quality and amenity-set will set a new standard for living in the area.”
Parse Capital, Icarus Capital, and Old National Bank provided financing for Trailhead Vista. Krevolin & Horst, LLC, of Atlanta, Georgia, represented Vista Residential Partners in the closing.
Vista Residential Partners was founded in 2000 and is an industry leader with over 30 years of experience in multifamily and commercial investments. Headquartered in Atlanta, Georgia, Vista Residential Partners has 9 regional offices nationwide with a focus on the acquisition, development, and construction of multifamily and mixed-use communities.
