Watermark Residential has acquired approximately 19 acres of land in the affluent St. Louis suburb of O’Fallon, where the company plans to develop their fourth apartment community in Missouri — Avenue64 by Watermark. The expected completion date is August 2022.
Located at 1147 Technology Drive, Avenue64 by Watermark will be conveniently located between I-64 and Highway K, approximately 30 minutes west of downtown St. Louis. The new class A apartment community is less than one mile from CitiMortgage and Progress West Hospital, two of the metro’s largest employers, and only a five-minute drive from MasterCard’s Global Operations Headquarters. Several local and national restaurant and shopping options are also just a short drive away.
“High barriers to entry, one of Watermark’s top criteria for new sites, has limited development in recent years, leading to a strong multifamily market in the area,” said Jesse Houghtalen, Watermark’s vice president of develo
