With the security of a $67.5 million construction loan, two developers are one step closer to making their multi-family housing project a reality. That venture? Parks at Davie, a 383-unit apartment complex.
The one-bedroom to three-bedroom homes will measure 568 to 1,415 square feet; in-unit amenities include stainless steel appliances, nine-foot-high ceilings, and quartz countertops. Communal amenities will include a fitness center, co-working space, and resort-style swimming pool.
The Real Deal notes that “about 77” of the units will be designated as workforce housing. While developers haven’t yet identified the community’s income restrictions, according to Broward County records, workforce housing is defined as residences reserved for those earning up to 120 percent of the area median income (AMI). Broward’s AMI is currently $89,100.
Part of the development will replace part of a Broward College parking lot. Image from Google Earth
Aside from the residential aspect, Parks at Davie will feature 6,200 square feet of ground-floor retail space. Construction is anticipated to start later this month, with Parks at Davie’s completion scheduled for 2027. Corwil Architects designed Parks at Davie. 13th Floor Investments and JSB Capital Group have partnered together on the venture.
Miami-based 13th Floor Investments has been busy. The firm recently broke ground on Parks at Hallandale, 398-unit apartment complex in Hallandale Beach. Florida YIMBY shared this story in August 2023, shortly after 13th Floor acquired a $83 million construction loan.
Parks at Davie will be partially located on land owned by Broward College at “the northwest corner of Davie Road and Southwest 37th Street” Davie, FL, 33314, in Broward County.
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