Altman Plans Another Florida Apartment Property

By Dees Stribling, Contributing Editor

Pembroke Pines, Fla.—The Altman Cos. has unveiled plans for Altis at Sheridan Village, a 300-unit apartment property on 34 acres in western Pembroke Pines in Broward County. Development lender for the project is BB&T, while the equity partner is Sarofim Realty Advisors.

Joel Altman, chairman of the Altman Cos., tells MHN that now is a good time to undertake the development, “since so little has been developed in the last four to five years. Even before the recession, a large part of the local stock of apartments was converted into condos, so between those two factors, there aren’t enough apartments to meet demand.”

The property will feature a mix of one-, two- and three-bedroom apartments, and will offer lake and wetland preserve views, along with a resort-style clubhouse with pool and spa. Other common amenities include a playground, beach volleyball court, dog park with bathing station, soccer field and a jogging/walking path.

Altman also emphasizes the greenness of the property. Among other things, the design incorporates the creation of 10.5 acres of wetlands, with the planting of native trees and flowering lilies to replace the non-native, invasive Melaleuca trees that now populate the site. Residents will also have the opportunity to grow their own organic vegetables and herbs on 10′ x 10′ plots at the property, complete with access to a composter.

This isn’t the first push by Altman to take advantage of the current dearth of apartments in Florida. Last year the company started Altis at Grand Cypress, a 258-unit development planned for New Tampa in Pasco County, and construction is nearing completion on that project. The company also recently broke ground at Altis at Coconut Creek, a 270-unit rental development near the Promenade Shopping Center, and is planning a new rental property in Kendall in Miami-Dade County, which will start in December.