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 development was the first workforce housing project filed under Florida’s Live Local Act (LLA) in Largo when the partners submitted plans for the development in February 2024.

Caspia, formerly known as Allora, was the first project filed under Florida’s Live Local Act in Largo when plans for the development were submitted in February 2024.

Pinellas Park-based Belleair Development Group (BDG) had purchased the 15.5-acre property in 2021 from Genesis Communications in late 2021. Trammell Crow purchased a portion of the site, totaling 9.5 acres, from BDG in early 2025 for nearly $7 million.

BDG sold the western half of the property for $6.72 million to Tampa-based multi-family developer Southport Financial Services, Inc., which plans to build 168 apartments on the site.

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.