Major Real Estate Developments in South Florida

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South Florida's real estate market is buzzing with exciting new projects, and here's a rundown of what's happening:

1. ROVR Development's New Miami Project

ROVR Development is planning a significant new project in Miami. The developer, through Delaware Parkway Partners LLC, is seeking approval for a sprawling development at 1825 Delaware Parkway in the Grapeland Heights neighborhood. This project will follow their Miami River Rapids apartment initiative. The proposed site spans 6.2 acres and will feature a mix of residential and parking structures:

• 1,000 apartments across a 15-story building, two 12-story buildings, and a seven-story parking garage.
• Amenities include pools, club rooms, fitness centers, and business centers in each apartment building.

2. Atlantic One Apartments in Pompano Beach

Collier Cos. is moving forward with the Atlantic One apartments in Pompano Beach. The project, located at 1800 E. Atlantic Blvd., will encompass:

• 303 apartments across three five-story buildings and one one-story building.
• Additional features include 5,561 square feet of retail space, 345 parking spots, and a pool.

3. Boca Raton Apartment Proposal

NAI Merdin Hunter Codman and Peachtree Group are planning new apartments at 900 N.W. Broken Sound Parkway in Boca Raton. This development will transform the parking lot of an existing office building into:

• 289 apartments, including 29 affordable units and 15 workforce units.
• A 599-space parking garage is also part of the plan.

4. Wynwood and Little Haiti Live Local Act Projects

Hidrock Properties and Robert Finvarb Cos. are developing a 39-story tower in Wynwood at 2534 N. Miami Ave., which will feature:

• 336 apartments with 40% designated as workforce housing.
• Commercial space totaling 7,781 square feet and 326 parking spaces.

In Little Haiti, Infinity Collective and MVW Partners have proposed a development at 8038 N.E. Second Ave. The 28-story building will include:

• 454 apartments, 40% of which will be workforce housing.
• 19,900 square feet of commercial space and 697 parking spaces.

5. Foreclosure and Refinancing at Tuttle Royale

A $38.4 million foreclosure lawsuit has been filed against the Main Street at Tuttle Royale mixed-use project in Royal Palm Beach. The 38-acre site, located near Southern Boulevard and U.S. 441, was approved for:

• 400,000 square feet of retail space and 401 apartments above it.
• A 125-room hotel, 82,875 square feet of office space, and 3,435 parking spots.

The developers are working to refinance the property amid high-interest rates and financial challenges.

These developments showcase the dynamic growth and changing landscape of South Florida’s real estate market, reflecting ongoing investments and shifting opportunities in the region.