Thrive
Largo apartments under Live Local Act near completion
Residents should be able to start moving in next month.
The first Largo apartment complex under the state’s Live Local Act is almost complete. It will provide affordable housing options for individuals and families.
According to Trammell Crow Residential managing director Steven Epps, the five-building luxury Caspia project, at 705 Redbud Lane, will begin to welcome residents around mid-April. Most of the final inspections for the first buildings are being completed this week.
Caspia consists of 240 units; 96 will be reserved for households who earn up to 120% of the area median income for 30 years. “The property was not zoned otherwise for multifamily,” Epps explained. “It was zoned industrial.”
Construction began in March 2025. The completed project will offer one and two-bedroom options. Amenities will include a pool, open-air terrace, private workstations, a fitness center and clubhouse with a gaming lounge.
Financial details were not disclosed.
Belleair Development Group had plans to create multifamily units on the property in 2021. This received community opposition and was not approved by the Largo government, the company’s co-owner Christian Yepes said.
Belleair executives then thought about developing industrial space due to the zoning. However, there were objections for that use case as well.
Once the Live Local Act went into effect in 2023, Trammell Crow Residential and Belleair leaders began to discuss a multifamily project. “We found that it was much more consistent with what was needed in this area,” Yepes said, “with such a shortage on housing and affordable housing options.”
The law, signed by Governor Ron DeSantis, authorizes “local governments to adopt ordinances to provide an ad valorem tax exemption for portions of property used to provide affordable housing meeting certain requirements,” according to the Florida Senate’s website.
While there were discussions about Belleair partnering in the initiative, the deal “ended up being a straight sale.”
The eastern 9.5 acres of the 15.5 acre-property were acquired by Trammell Crow Residential in early 2025. He added that the remaining western portion was sold to Southport Financial Services, which is planning to build a 168-unit complex.
“We were only involved in the initial engineering, entitlements and approval process to be able to do those developments,” Yepes explained.
Trammell Crow Residential, a subsidiary of Crow Holdings, has been investing in the Florida real estate market for a decade with projects in Orlando, Fort Lauderdale and other municipalities. The company expanded to the Tampa area in 2020, Epps said, and opened an office locally two years later.
Currently, three Trammell Crow projects have opened in the region: Alexan Grove in Wesley Chapel, Allora Uptown in Tampa and Allora River Ridge in New Port Richey. More developments are planned.
Construction will continue until the summer.
Michael Bruce
March 13, 2026at7:39 am
We went to Largo city meetings and warned them about the 8th Avenue apartments being built on that land, and they only cared about the money for tax revenues. Because they overpaid by 3-4 million dollars for their city hall. They had to legally disclose that. That has always been a field for a reason. That land and corner always floods. The road isn’t wide enough, and yes i took plenty of pictures as they were laying the ground piping under the asphalt. It has blown out every time they have fixed it. And it’s fallien again in 2 places as we speak and the asphalt has a big hole in it. Dig all they want, there’s still water down there and it’s still going to continue to be an issue. Now they’ve sold the other parcel to another developer and I cant wait to hear how soil samples that have been bad for so long are suddenly all clear. Money grab. Shame on Largo who claims we need more green spaces. The new residents should have the right to sue if anything happens to them, their belongings or if they have to move because of this in the future.
Ann Elliott
March 11, 2026at1:45 pm
I can’t believe that the city of Largo would even allow them to start moving people in when they can’t even keep the ground from caving in in the retention pond how many times have they tried to dig that pond out only to have the walls cave in or the water flood over onto the road they have no idea what they’re doing. I would hate to be in one of those apartments, knowing how unstable the ground is underneath those and I’m sure there’s no disclaimers that the people sign when they move into those apartments. I’m sure they don’t disclose that information when people move in you would only know unless you live around here. Shame on Largo shame on the builders.