Miami-based real estate development firm 13th Floor Investments has initiated construction on Parks at Hallandale, a multifamily development located at the southeast corner of Pembroke Road and Northeast 1st Avenue in Hallandale Beach, Broward County. The 15.5-acre project, occupying the sites at 106 and 2002 Pembroke Road, plus 700 and 1000 Northeast 1st Ave, will consist of 398 market-rate and workforce apartments across five-story buildings, with approximately 6,500 square feet of ground-floor retail. CIBC Bank USA provided a loan of $83 million for the project’s construction. Berkadia’s Florida team, led by Scott Wadler and Alec Fox, facilitated preferred equity from Houston-based Marble Capital. The project is expected to be completed in 2026.
Designed by MSA Architects, the development will offer a mix of studios, one-, two-, and three-bedroom units ranging from approximately 600 to 1,400 square feet. Features include granite and porcelain countertops, stainless steel appliances, spacious kitchen islands, luxury vinyl flooring, 9′ ceilings, and in-unit washers and dryers. Amenities will include a clubhouse, fitness center, resort-style pool and deck, outdoor pavilion with barbecue grills, tennis and pickleball courts, a dog park, and a children’s playground.
Credit: 13th Floor Investments
“We are excited to begin construction at Parks at Hallandale. Located at the confluence of Miami-Dade and Broward Counties, the City of Hallandale Beach has emerged as a hub of dynamic growth in recent years, and this development underscores our commitment to meeting the escalating demand for quality housing in one of the region’s most coveted submarkets,” said Arnaud Karsenti, Managing Partner of 13th Floor Investments.
The project also includes plans to improve the surrounding streetscape along Northeast 1st Avenue, aligning with the City of Hallandale and Broward County’s Complete Streets vision. This will enhance the road, sidewalks, pedestrian access, and bike lanes.
Credit: 13th Floor Investments
“We are pleased to continue our longstanding partnership with CIBC Bank USA and to collaborate with Marble Capital on Parks at Hallandale,” said Daryl Shevin, Chief Financial Officer, Principal of 13th Floor Investments. “Together, we look forward to other milestones in the near future.”
Hallandale Beach, with nearly 40,000 full-time residents, is one of the fastest-growing populations in Broward and Miami-Dade counties. The area is a prime location for investment, with numerous residential and commercial projects recently completed and more than $1 billion in new development projects under construction, planned, or approved. Located between Fort Lauderdale and Miami, the city is adjacent to Aventura. It offers easy access to major transportation hubs, including Fort Lauderdale/Hollywood and Miami International Airports, Port Everglades, and Port of Miami.
Since its founding in 2008, 13th Floor Investments has completed 3,900 residential units across South Florida, with more than 4,800 units in development and under construction, set to be delivered over the next few years. The firm continues to focus on luxury residential and mixed-use multifamily developments, growing its industrial portfolio, and expanding its single-family homebuilding business, 13th Floor Homes, which currently has five housing communities in development.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
I am a realtor
Please send me plans and prices
Thank you