-- New multifamily community will deliver 320 residences in fast-growing Knox County
FARRAGUT, TN — The $80 million development will bring 320 residences, including 240 apartments and 80 townhomes, to one of the Knoxville region’s fastest-growing areas. Over the past four years, the Knoxville market has experienced the 7th highest rent growth in the country, supported by employment growth averaging 1.8% annually over the last five years. These dynamics, combined with strong demographics and continued in-migration, make the region an attractive opportunity for long-term multifamily investment.
Homes will feature a modern farmhouse aesthetic with high-end finishes and a cohesive design that blends interior and exterior spaces. Residents will enjoy amenities such as a clubhouse and fitness center, resort-style pool, golf simulator, outdoor lounge areas, and entertainment lawns. Located near the Turkey Creek retail district, the community will offer convenient access to shopping, dining, and recreation.
“Laster Farms at Turkey Creek represents an exciting step forward for Trinitas as we expand our real estate investment into market-rate multifamily housing development,” said Eric Wojak, executive vice president of build-to-rent and multifamily development at Trinitas Ventures.
“This community reflects our commitment to intentional design and meaningful resident experiences, creating spaces that inspire connection, support wellbeing, and deliver enduring value for the people who call them home.”
The development is a partnership with Millstone, which identified and entitled the site and will serve as the General Contractor for the construction of the project. Together, the teams have focused on purposeful design, operational excellence, and long-term community value.
Based in Indianapolis Millstone is a vertically integrated real estate development and construction firm specializing in multifamily development. The company is known for their data driven approach to market selections, seeking out high-barrier to entry, undersupplied, and dynamic markets, and a commitment to high quality construction that improves communities and delivers top-of-market resident experiences.
“We are proud and excited to partner with Trinitas Ventures on a project that embodies our shared vision
for creating thoughtfully designed, lasting communities,” said [Owen Hartman, Director of Development], at Millstone.
“Laster Farms at Turkey Creek reflects the high standards and forward-thinking approach both organizations bring to development. Together, we’re delivering a top-of-market community that willenhance the lives of its residents and the greater West Knoxville area.”
“Farragut and the greater Knoxville area continue to experience remarkable growth, driven by people seeking connection, convenience, and opportunity,” said Loren King, CEO and co-founder of Trinitas Ventures.
“With strong employment gains and consistent rent growth, the market provides a compelling foundation for thoughtful, long-term investment. Laster Farms at Turkey Creek is a reflection of that strength and our commitment to creating communities that are authentic, enduring, and connected.”
The community will offer one-, two-, and three-bedroom layouts, with rents expected to range from $1,800
to $2,800 per month. Construction financing is expected to close in November 2025, with vertical construction beginning shortly thereafter. “From the beginning, our approach has centered on resident experience,” Wojak added.
“Working with Millstone and Knox County, we are creating a community that contributes to the area’s quality of life and
sets a new benchmark for multifamily living in East Tennessee.
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Laster Farms at Turkey Creek represents the next chapter in Trinitas’ growing portfolio of community-focused housing across the country. The project aligns with the company’s vertically integrated platform spanning investment, development, construction, management, acquisition, and operations, designed to deliver thoughtfully planned communities that create lasting value and connection.
About Trinitas Ventures
Trinitas Ventures is a fully integrated real estate firm specializing in the investment, development, construction, management, acquisition, and operation of high-quality residential communities. The company has developed nearly $3 billion in residential communities nationwide, with a current pipeline of more than 16 projects valued at over $1.9 billion. Learn more at www.trinitas.ventures .
About Millstone
Millstone is a vertically integrated real estate development and construction firm specializing in multifamily development. Recognized for its data-driven approach to market selection, Millstone targets high-barrier to entry, undersupplied, and dynamic markets. The firm is committed to delivering exceptional construction quality and execution that enhances communities and provides residents with best-in-class living experiences.
https://www.trinitas.ventures/
Release ID: 89178884
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