A new 280-home apartment community has opened its doors in Venice, Florida, welcoming its first residents to five four-story buildings tucked near Jacaranda Boulevard and Interstate 75. Wood Partners announced the grand opening of Altera Jacaranda on Tuesday, positioning the project as part of its push to bring newly built rentals to the region at what the developer calls more attainable price points.
The community, professionally managed by Greystar, sits at 2305 Frederick Drive in Sarasota County, according to Florida YIMBY. The 280 one-, two- and three-bedroom apartment homes mark the completion of a project Wood Partners first detailed in 2024, when the firm said in a release that the development was expected to deliver to the community in the second quarter of 2026 and described it as a cost-effective design aimed at renters seeking new construction without Class A pricing, according to Wood Partners.
A ribbon-cutting ceremony and mural unveiling are scheduled for November 18 at 4 p.m., an event meant to bring together residents, local officials, Venice Area Chamber of Commerce representatives and community partners, per a company announcement distributed through GlobeNewswire. The mural, created by artist Adam Podber and his team, depicts a jacaranda tree and was designed in a palette selected by Wood Partners and EuroInvestor, known as EIG. Podber's team used virtual reality technology to sketch the composition directly onto the building exterior, a method that let the artwork scale across the wall while keeping its proportions intact.
A Mural Meant to Root the Community in Venice
Cheryl Carroll said the mural captures the development's spirit of beauty, balance and what she called a memorable sense of place, adding that residents should feel connected both to their home and to Venice itself. Altera Jacaranda is part of Wood Partners' broader Altera housing program, developed with Axiom Architecture, which the firm has used to create prototype residential buildings and clubhouses across several developments on the East Coast, according to Axiom Architecture.
Inside, units feature open-concept floor plans, wood-inspired flooring, granite countertops, stainless steel appliances and matte white cabinetry with brushed nickel finishes, along with walk-in closets, pantry storage, ceiling fans and optional garage rentals. The buildings themselves include air-conditioned interior corridors. Shared amenities include a saltwater swimming pool with a sun deck and shaded seating, outdoor grilling stations, gaming areas, a social lounge with an entertainment bar and coffee service, coworking space with a private day office and conference room, a 24-hour fitness center, and a dog park with a washing station.
Leasing Terms and Pricing Vary by Source
Greystar's property page lists floor plans and rents for the complex, per the company's property page. RentCafe shows one-bedroom units starting at $1,199, two-bedrooms from $1,460 and three-bedrooms from $1,748; prospective renters should confirm current pricing and availability directly with the property.
The opening lands at a moment when Southwest Florida's rental market is shifting in renters' favor. A July report from the Herald-Tribune, citing Apartments.com data, found vacancy rates in Sarasota, Punta Gorda, Fort Myers and Naples running almost double the national rate of 8.2%. The same report found Sarasota had more than 4,500 additional rental units compared with the year before, a jump of over 10%, with 81.8% of Sarasota properties offering concessions and nearly half of those advertising two months of free rent.
Rental Supply and Prices
Those market conditions echo separate data from Sarasota Magazine, which reported that a HUD housing market profile put Sarasota County's apartment vacancy at 15% in April 2025, up from 9.2% a year earlier, with Manatee County at 8.6%. Average apartment rent across the North Port-Sarasota-Bradenton metro area stood at $1,991, down 1% year over year, according to the same report.
In September 2024, Wood Partners announced plans to break ground on Altera Jacaranda the following month and outlined work with local officials on modifications to the intersection of Commerce Drive and Jacaranda Boulevard to improve access to the property. The location near Interstate 75 connects residents to employment centers in healthcare, education, hospitality and professional services, while downtown Venice, area beaches, recreational trails and commercial destinations sit to the west.
