13th Floor Investments, in partnership with JSB Capital Group, has secured a $67.5 million construction loan from Santander Bank for the development of Parks at Davie. This 383-unit multifamily project in Broward County, Florida, aims to provide both market-rate and workforce housing options. Construction is slated to begin this month, with completion expected in 2027.
Key Takeaways
- Santander Bank provided a $67.5 million construction loan for the Parks at Davie project.
- The development will feature 383 units, ranging from studios to three-bedrooms.
- The project aims to offer a mix of market-rate and workforce housing.
- Parks at Davie is scheduled for delivery in 2027.
Project Details and Amenities
Parks at Davie will consist of five-story buildings located near Broward College’s Davie campus. The community will offer a variety of unit sizes, from 568 to 1,415 square feet, featuring modern finishes such as quartz countertops, stainless steel appliances, and nine-foot ceilings. Residents will have access to a clubhouse with a pool, a fitness center, coworking spaces, and approximately 6,200 square feet of ground-floor retail.
Strategic Location and Market Outlook
The development’s location offers convenient access to major highways like I-595 and Florida’s Turnpike, as well as proximity to parks and urban amenities. Experts note that the Broward County apartment market continues to experience strong rental demand, making multifamily developments an attractive investment. The area is seeing a rise in younger professionals and middle-income renters seeking quality housing options at accessible price points.
Developer’s Vision
Aaron Stolear, president of development at 13th Floor Investments, emphasized the project’s commitment to creating a "meaningful, lasting change in South Florida" by delivering a project with "exceptional finishes and thoughtfully designed open space amenities" while maintaining an "attainable price point."