As South Florida’s population continues to grow, so does its affordability challenge. According to Miami Homes For All, the tri-county area currently faces a shortage of 90,181 housing units for households earning below 80 percent of the area median income, estimated at around $75,000 annually.
Cymbal DLT Companies (Cymbal DLT) has completed construction on Laguna Gardens, a 341-unit garden-style multifamily community designed by the award-winning international design firm Jo Palma and Partners, located in the City of Miami Gardens. The development is now welcoming its first tenants after successfully issuing the initial Temporary Certificate of Occupancy (TCO). Situated at 20775 Northwest 17th Avenue, the community spans 10 low-rise buildings across 14 acres adjacent to Miami’s Hard Rock Stadium. It offers apartments ranging from one to three bedrooms, between 650 and 1,330 square feet, and monthly rental prices starting at $2,000.
Laguna Gardens is just one step closer to completion in Miami Gardens, FL. The complex will comprise 11 four-story buildings, offering 341 homes. Apartments.com notes that homes range from one-bedroom to three-bedroom floorplans.
Cymbal DLT Companies, a Miami-based real estate development and construction firm, has secured a $95 million loan from an undisclosed senior lender and Related Fund Management. The loan is intended for Oasis Pointe Residences, a 301-unit multifamily complex designed by CES Design Group located at 150 South Bryan Road in Dania Beach, a significant part of the Cymbal DLT Collection of communities throughout South Florida.
Plans have been filed for Nautica Hotel and Residences, a massive multi-towered mixed-use complex proposed for a 3.82-acre development site south of Fort Lauderdale’s New River, nestled in between Southwest 3rd Avenue on the north, Southwest Flagler Avenue on the south and Southwest 5th Street on the west. Designed by Arquitectonica with landscape architecture by ESDA, Inc. and developed by Cymbal DLT Companies, the project calls for three towers yielding nearly 2 million square feet of space, including a 32-story hotel with 148 keys, a 50-story condominium with 241 units, and a 39-story rental tower with 454 units. Langan Engineering is the civil engineer, Traf Tech Engineer is the traffic engineer, and Toothaker is the land use attorney for the proposed development, which encompasses properties addressed as 400, 420 Southwest 3rd Avenue and 201 Southwest 5th Street in the Tarpon River neighborhood of the Downtown corridor.
