Prestige Cos. and Brunetti Organization have successfully completed Flamingo Village, a significant 341-unit residential community in Hialeah, Florida. This development, financed by a $60.7 million construction loan from Centennial Bank, represents the first multifamily project within the expansive 200-acre Hialeah Park Race Trak & Casino.
Key Takeaways
- Flamingo Village, a 341-unit community, has been completed by a joint venture of Prestige Cos. and Brunetti Organization.
- The project utilized a $60.7 million construction loan from Centennial Bank.
- It is the inaugural multifamily development at the Hialeah Park Race Trak & Casino, signaling a shift towards a mixed-use destination.
- The community offers a variety of housing options, including townhomes and garden-style apartments, with units ranging from 890 to 1,375 square feet.
- Flamingo Village boasts extensive amenities and a strategic location near retail, dining, and major transportation hubs.
A New Mixed-Use Vision for Hialeah Park
The opening of Flamingo Village is a pivotal moment for the historic Hialeah Park Race Trak & Casino, which originally opened in 1922 and was revitalized by the Brunetti Organization in 2013. This multifamily development is the largest project within the master plan, aiming to reposition the iconic venue as a vibrant mixed-use destination.
Prime Location and Community Features
Strategically situated at 2200 E. Fourth Ave., Flamingo Village is a transit-oriented development. Residents benefit from close proximity to numerous retail and dining establishments. Its location also offers convenient access to Miami International Airport, just 3 miles away, and downtown Miami, located 9 miles to the southeast.
The community itself is designed to offer a comfortable and amenity-rich living experience. It features a diverse mix of townhomes and garden-style apartments, with unit sizes varying from 890 to 1,375 square feet. Residents can enjoy access to two clubhouses, swimming pools, a modern fitness center equipped with a yoga and meditation studio, and a business center. Additional features include a dedicated pet play area, a park, a tanning deck, and ample parking with over 700 spaces.
Miami’s Multifamily Landscape
As of early December, the Miami area had approximately 126 multifamily developments under construction, poised to add around 33,120 units to the market. Of these, 46 projects, totaling 11,782 apartments, commenced construction this year, indicating a robust development pipeline in the region. Recent projects in the broader South Florida area include Skye in Delray Beach and Modera Downtown Boca in Boca Raton, highlighting continued growth in the multifamily sector.