Earlier this March, Florida YIMBY reported on Soleste Reserve I and II, a multi-family housing development in Davie, FL. Now, we have an update regarding this emerging project.
Sources indicate that developer The Estate Cos. intends to soon break ground on the first phase, which upon its anticipated completion in two years, will offer 347 apartments in eight stories. The studio to three-bedroom units will measure 500 to 1,100 square feet.
The venture will measure eight stories. Image from the SFBJ
Fifteen percent of the residences (about 52) will be reserved as workforce housing, meaning they would likely be available to those earning 60 to 140 percent of the area median income (AMI). According to county records, Broward County’s AMI was $88,500 as of 2023.
Communal amenities at Soleste Reserve I will include a swimming pool, roof deck, gaming lounge, and more. There will also be 580 parking spots; the ground floor will host 13 live-work units that could be used as both residential and commercial space for small businesses.
The Estate Cos.’s general contractor will construct the project. The developer purchased the 2.5-acre build site for $6.9 million in 2022. Caymart Design designed Soleste Reserve I and II. The first phase will be located at 5079 S.W. 48th St., Davie, FL, 33314, in Broward County.
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