New Broward County Apartment Set to Open
- May 22, 2013
Davie, Fla.—Leasing has started on Elan 33 West, a 376-unit apartment community in Davie, Fla., developed by Charleston, SC-based Greystar Real Estate Partners. The property’s opening is slated for July.
Elan 33 West, which is at the junction of I-595 and Davie Rd., will offer one-, two- and three-bedroom units ranging in size from 643 to 1442 square feet. Unit amenities will include granite countertops, espresso wood cabinetry and wood plank flooring.
Common amenities will include a clubhouse, coffee bar, e-café and fitness center with a yoga studio. The property sports two swimming pools with sundecks, cabanas and a tanning studio with a massage room, and also has a dog park.
Davie is a large town in Broward County that has seen considerable population growth in recent years, according to the Census Bureau, with about 75,700 residents in 2000 but 91,000 in 2010 (and not even 3,000 people lived in the town back in 1970). Employment is predicted to expand by 18,000 jobs countywide in 2013, compared with a net of 15,300 created last year.
Investment specialist Marcus & Millichap reports that 1.352 new apartment units will come on line in Broward in 2013, compared with 1,226 in 2012. All of the new properties will be market-rate apartments, and despite their influx into the market, the company nevertheless predicts that Broward apartment vacancies will drop from 5.1 percent at the end of 2012 to 4.6 percent at the end of this year.