Rilea Group, Standard Pacific Homes Have Big Projects On Broward Agenda

Written by on 03.10.15 in Investment Trends, Land, MultiFamily - No comments

Rilea Group and Standard Pacific Homes both have large residential development proposals set to go before the Broward County Commission on March 10.

Miami-based Rilea Group, the developer of the 1450 Brickell office tower and the One Broadway Brickell apartments, wants to upsize the plans for its Parco Mare apartment building in Dania Beach. The developer received approval in 2013 to build a 181-unit, 12-story building there. Now it wants that changed to a 237-unit, 14-story building.

Rilea Group VP Diego Ojeda said that when Fort Lauderdale-Hollywood International Airport completed its runway expansion and abandoned one of the smaller runways, that allowed it to seek two additional floors. The project is located on a 2.2-acre site on the south side of Dania Beach Boulevard just east of Southeast 5th Ave. It’s up against a nature preserve.

Ojeda said Dania Beach is a great location because it’s home to two of the county’s biggest employers in the airport and Port Everglades. The area is getting major new developments, such as the Dania Live retail complex and the renovated Dania Beach Jai Alai, he added. “We think that Dania is going to explode,” Ojeda said. “There’s a lot of employees coming so we want to offer new housing for them.”

Rilea Group’s Dania Beach Developers purchased the property for $2 million in 2005, so this has been a long-running project. If it secures county approval, Ojeda says he hopes to start construction in 10 months.

ParklandTheWedgeStandard Pacific Homes has laid out plans for the second phase of its Watercrest community in Parkland.

The developer wants to build 113 single-family homes on the 42-acre site along Loxahatchee Road behind the first phase of its project. It acquired the property for $4.35 million in January from Vanelli Family.

It’s located in an area called “the Wedge” that Palm Beach County gave to Broward County and incorporated into Parkland.

Homes in the first phase of Watercrest starts in the $710,000s.


Source: SFBJ

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