Rockpoint JV to Develop 452-Unit Florida Community
The development's first apartments will come online by late 2027.
Boston-based Rockpoint has established a joint venture with The Morgan Group and Humbold Real Estate Ventures for the development of Caroline at Sunrise, a 452-unit community located in Sunrise, Fla., a submarket of Fort Lauderdale. The partnership acquired the land for the project, which is set to break ground imminently.
In December 2025, the South Florida Business Journal reported that the 21-acre site was acquired for $26.2 million, with a $111 million construction loan provided by PNC Bank. Humbold owns the land the property is being developed on.
Construction plans show that Caroline at Sunrise will include 412 apartments across eight four-story buildings and 40 townhomes across six three-story buildings. The first units are expected to be delivered by late 2027. Amenities at the development will include a two-story clubhouse, a pool, a fitness center with a yoga studio, an outdoor lounge, as well as pet amenities such as a a spa and dog park.
In prepared remarks, Dan Domb, managing member and COO at Rockpoint, said the joint venture is pursuing this opportunity as Florida markets are showing demand for community living. He said that the Caroline will offer residents access to city metro areas such as Fort Lauderdale and Miami while remaining near the coast.
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Caroline at Sunrise has been in the works for more than four years as The Morgan Group gained city approval back in 2023 after filing redevelopment plans for apartments in 2021. The company’s original plan included floorplans with one- to three-bedroom apartments.
The joint venture is constructing the property near North Pine Island Road in Sunrise. The area is about 15 miles from Fort Lauderdale-Hollywood International Airport and 18 miles from Dania Beach Pier. Miami is approximately 36 miles to the south.
Class A leads multifamily in Fort Lauderdale
Currently, there are 8,700 units under construction in Fort Lauderdale, according to a Matthews real estate report on the metro. Approximately 80 percent of this pipeline consists of luxury apartments, as renters increasingly choose community living rather than homeownership.
Part of the completion agenda includes Andare Residences Design by Pininfarina, a 46-story, 163-residence luxury tower project being built by Related Group and Pininfarina that broke ground last May.
This past September, Continua Developments moved forward with a 110-unit community in the Flagler Village neighborhood of Fort Lauderdale, following its receipt of a $28 million construction loan from Goldman Sachs.
