Ram Realty Advisors and Pinnacle Communities have broken ground on a new 16-story luxury apartment building in Aventura, Florida. This development, situated between Miami and Fort Lauderdale, will feature 334 units, with the first residents expected in mid-2027. The project aims to blend high-end living with community-focused amenities and transit accessibility.
Aventura’s New Luxury Living
The 334-unit development will offer a variety of one-, two-, and three-bedroom apartments. A significant aspect of the project is its commitment to affordability, with 10% of the residences designated for workforce housing. The interiors are designed with modern finishes, including open-concept kitchens with quartz countertops and large islands, stainless steel appliances, and bathrooms featuring frameless glass showers. All units will boast hard surface flooring throughout living areas and bedrooms, with tile in the bathrooms, and floor-to-ceiling glass in the living rooms. Some select units will also include private terraces and soaring ceilings up to 14 feet.
Extensive Community Amenities
Residents will have access to a comprehensive suite of common-area amenities designed to enhance lifestyle and convenience. These include:
- A fifth-floor pool deck
- A clubroom with a private dining area
- A golf simulator
- A 24/7 resident market
- A state-of-the-art fitness center with indoor/outdoor training zones
- An activity room for children
- A spa with cold plunges and a sauna
- A music room
- A coworking lounge
- A podcast studio
- Private rentable offices
Outdoor and Recreational Features
The development also emphasizes outdoor living and recreation. A private outdoor park will feature a dog walk, playground, grilling and dining spaces, communal seating, and a pickleball court, a notable addition to the Aventura multifamily market. The property will also include four levels of parking.
Transit-Oriented Location
Strategically located near the Aventura Brightline Station, the property offers excellent transit connectivity to downtown Miami, Fort Lauderdale, and Orlando. Its proximity to the expansive Aventura Mall, a 2.7 million-square-foot retail destination, further enhances its appeal. Kaufman Lynn Construction is serving as the general contractor, with Baker Barrios leading the design team alongside NC Studio, Ford Engineering, McNamara Salvia, and Wilson & Girgenti.
South Florida Multifamily Market Overview
As of April, Miami-Dade’s multifamily stock saw an increase of 2,872 units, a 0.8% expansion, mirroring the national average. Despite this growth, developers are actively pursuing new projects, with 34,415 units under construction in greater Miami-Dade. However, Yardi Matrix anticipates a slowdown in new unit completions for South Florida in 2024, projecting 13,620 units to come online, a decrease from the over 20,000 units completed in 2023. Multifamily occupancies in South Florida have remained stable, with greater Miami-Dade reporting a 95.4% occupancy rate in March, a slight year-over-year decrease. Rental growth has been modest, with a 0.1% increase on a trailing three-month basis as of April.