13th Floor Breaks Ground on South Florida Apartments
The community will include market rate and workforce housing.
Developer 13th Floor Investments has broken ground on Parks at Hallandale, a 398-unit multifamily property in Hallandale Beach, Fla. The development will include both market-rate and workforce apartments across several five-story garden style buildings situated on15.5 acres. The property will include 6,500 square feet of ground-floor retail.
Miami-based 13th Floor obtained an $83 million construction loan from CIBC Bank USA to facilitate the project. Houston-based Marble Capital is providing an unspecified amount of preferred equity for the project, which was sourced by Berkadia.
The property, slated for completion in 2026, will offer studios and one-, two- and three-bedroom units ranging from about 600 square feet to 1,400 square feet. Units will include nine-foot ceilings, granite and porcelain countertops, stainless-steel appliances, kitchen islands and in-unit washers and dryers.
Common amenities will include a clubhouse, fitness center and resort-style pool and deck. The property will also provide residents an outdoor pavilion, barbecue grills, tennis and pickleball courts, as well as a dog park and a children’s playground.
Florida pipeline
13th Floor Investments is no stranger to the regional market, having completed 3,900 residential units across South Florida, with a pipeline of more than 4,800 units in development and under construction. The company is currently working on the transit-oriented Link at Douglas in Miami; a master planned mixed-use development, On the Trail, in Greenville, SC; and a multifamily development, Parks at Delray in Delray Beach, Fla.
The developer is also working on single-family communities, including Marina Landings in Fort Lauderdale, Villas of Torino and Tredici at Central Park in Port Saint Lucie, Fla., and Solera at Avalon Trails in Delray Beach, Fla.
