The Related Group hopes to move forward with an affordable housing complex in Broward County. Plans involve purchasinga 5.2-acre site that was once occupied by a motel. A community known as “Cross Creek Apartments” would replace the hotel, offering 467 residences.
The South Florida Business Journal indicates that 327 homes would be affordable housing units for those earning 120 percent of the area median income (AMI). One hundred and twenty-seven would be workforce housing for those earning 120 percent of the AMI, and the remaining 27 would be market-rate apartments.
The proposed site was once home to a Motel 6. Image from Google Earth
Broward’s median household income was $70,331 in 2022, according to city records; the average rent for a 897-square-foot apartment in Pompano Beach is $2,195 a month, per RentCafé. Communal amenities include a swimming pool. Cross Creek Apartments would also have 3,900 square feet of retail and 690 parking spots.
Broward County purchased the property in question for $7.25 million in 2023. It will consider a gap financing deal and ground lease with an affiliate of the Related Group next week. The developer recently finished construction on Highley House, a mixed-use venture in Miami-Dade County.
If approved, Cross Creek Apartments would be located at 1201 NW 31st Ave., Pompano Beach, FL, 33069, in Broward County.
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