Global real estate firm Trammell Crow Residential is nearing completion of a new 240-unit luxury apartment community in Largo.

Caspia is being constructed on a 9.5-acre property at 705 Redbud Lane near the corner of 8th Avenue SE and Donegan Road.

The community, which is expected to launch preleasing soon, will contain a mix of affordable and market rate housing.

40% of the units will be reserved for households earning at or below 120% of the area median income (AMI), or roughly $68,400 annually in the City of Largo, while the remaining apartments will be rented at market rates.

Groundbreaking on the development began in 2024. Construction is now nearing completion.

A 168-unit affordable apartment community is planned for a portion of a 15.5-acre property in Largo, adjacent to another affordable housing project already underway on the site.

Tampa-based Southport Financial Services, working with Moore Bass Consulting, is seeking site plan approval from the City of Largo to build the complex at 800 8th Avenue Southeast, on the corner of 8th Avenue SE and Donegan Road.

The project, called Largo Station, would be built on 5.7 acres on the western portion of the property next to Allora, a 240-unit apartment community being developed by global real estate firm Trammell Crow Residential (TCR). The remainder of the property is occupied by Allora’s first phase. When both phases are complete, the site will have 408 apartments.