INDIGO

Indigo at Champions Ridge was Red Clay’s first full-cycle project and was a joint venture partnership between Red Clay Development Partners and Atlantic Residential for the development and construction of a 300-unit multifamily development located in the burgeoning “four corners” neighborhood of Davenport, Florida adjacent to the two renowned master-planned communities known as Champions Gate and Reunion. The development team diligently shepherded the project through the rezoning and permitting process, beginning construction within thirty days after closing on the land acquisition and construction loan during the tumultuous early days of the COVID pandemic in late-June 2020. The partnership successfully navigated the project through the challenging supply chain issues caused by the pandemic to deliver a core-quality product on time and within budget. The disposition process began during construction and culminated in a closing within forty-five days after issuance of the final certificate of occupancy. Ultimately, the project generated returns significantly above proforma to investors and put Red Clay on the multifamily development map.

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