Ocean Bank provided a $67 million construction loan for the project in Aventura.
Rendering of 17990 W. Dixie Highway. Image courtesy of AMAC
AMAC and ROVR Development are working together yet again for a project in South Florida. The two developers have started construction on a 290-unit community located at 17990 W. Dixie Highway in Aventura, Fla.
The developers also landed a $67 million construction loan from Ocean Bank for the project, which is slated to complete in the first quarter of 2024. The project team includes Anillo Toledo Lopez as the project’s architect and Delant Construction as the general contractor.
The project site will see an eight-story building offering studio, one-, two- and three-bedroom floorplans that average approximately 825 square feet. The units will be built with stainless steel appliances, in-unit washer and dryers and smart lock entry. The developers are building the community with a two-story gym, spa, sauna, pool, outdoor kitchen and grilling areas, dog wash, club room, library, media room, social lounge and sunset terrace.
The rest of the residential property will feature a convenience market, concierge, smart package center and a parking garage that includes 36 charging stations for electric vehicles. The project also has 1,760 square feet of office space that will be operated by Ora, a platform that rents out private office space in residential buildings.
BUILDING IN SOUTH FLORIDA AND BEYOND
The residential project is the latest partnership between AMAC and ROVR in the South Florida market. The two companies previously worked together to develop Biscayne 112, a 402-unit community in Miami that was recently completed.
On its own, AMAC acquired a site for another multifamily development at 4465 Griffin Road in Hollywood, Fla., in February. The site will become a 180-unit community as AMAC is planning to start construction on it later this year. Outside South Florida, AMAC also has current developments in Nashville, Tenn., Dallas and New York City. As for ROVR, the company started pre-leasing at its innovative residential project that’s being built on top of the Miami Parking Authority’s headquarters.