In response to increasing demand for rental housing among South Florida’s active adult community (ages 55+), 13th Floor Homes, a division of 13th Floor Investments, has secured $14.1 million in construction financing for Solera at Avalon Trails. This community features 74 single-story villas at 14800 Cumberland Drive in Delray Beach, Palm Beach County, Florida. The funding, led by the Canadian Imperial Bank of Commerce (CIBC), will support ongoing construction, set to begin in late 2023, with the first villas delivered in 2024.
Solera at Avalon Trails is designed to cater to the needs and preferences of South Florida’s active adult population. The location in Delray Beach offers convenience and access to local amenities. Groundbreaking is set for late 2023, with the first villa deliveries expected in 2024.
With its 74 single-story villas, Solera at Avalon Trails aims to provide quality rental housing for South Florida’s active adult community. The $14.1 million in construction financing, led by the Canadian Imperial Bank of Commerce (CIBC), will support construction in late 2023, with villa deliveries in 2024.
Solera at Avalon Trails, a community of 74 single-story villas in Delray Beach, Florida, is set to meet the growing demand for rental housing among South Florida’s active adult population. Construction financing of $14.1 million has been secured, with CIBC leading the financing effort. Groundbreaking is expected in late 2023; the first villas will be delivered in 2024.
To address the rising demand for rental housing among South Florida’s active adult community, 13th Floor Homes has secured $14.1 million in construction financing for Solera at Avalon Trails. This community will feature 74 single-story villas in Delray Beach, Florida. CIBC is leading the financing effort, with construction beginning in late 2023 and the first villas delivered in 2024.
Located within the Avalon Trails active-adult community, Solera at Avalon Trails will offer an unapparelled lifestyle for active adults aged 55+ seeking luxury rentals in an amenity-focused, gated community. The community will offer two-to-three-bedroom single-story townhome villas. Home features include luxurious finishes such as quartz countertops, shaker-style wood cabinetry, stainless steel appliances, spacious master suites, and impact windows and doors.
“Florida is seeing a growing demand for high quality active adult communities “said Mike Nunziata, Division President of 13th Floor Homes. “Solera at Avalon Trails will offer luxury rentals that will redefine the traditional retirement community bringing resort-style amenities and spacious home offerings to Palm Beach County.”
Solera at Avalon Trails will offer an entertainment-filled lifestyle with amenities and programming designed for seniors to live a pleasant lifestyle. Residents will enjoy scenic walks throughout the community, lounging by the resort-style community pool, swimming in the lap pool, movies at the theatre, playing a game of Pickleball or tennis with friends, and a clubhouse with a state-of-the-art fitness center.
Located in South Florida’s Palm Beach County, Solera at Avalon Trail’s prime location is another distinguishing feature that sets this neighborhood apart from the other 55+ communities and speaks to 13th Floor’s keen understanding of the active-adult market. Located moments away from Downtown Delray Beach and the South Florida coastline, the community is proximate to nearby arts, culture, and entertainment destinations. It is conveniently situated between Fort Lauderdale and West Palm Beach.
Solera at Avalon Trails is among 13th Floor Homes’ newest communities in South Florida. With over 1,100 homes and 3,500 homesites developed across the region in the last decade, 13th Floor Homes currently has four active communities under development, encompassing over 500 homes.
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