Estate Companies designs a pair of multifamily tasks with a overall of 663 models in Davie, marking developers’ continued bet on South Florida’s rental industry.
The South Miami-primarily based business wishes to make the eight-tale, 353-device Soleste Reserve I creating on 2.5 acres at 5079-5081 Southwest 48th Street, and the 8-tale, 310-unit Soleste Reserve II setting up on an adjacent 2.6 acres at 5000 Griffin Highway, in accordance to Estate’s controlling principal Robert Suris. The projects’ names are tentative.
Estate is advancing the tasks, most a short while ago finishing the assemblage with an $8.2 million order of the Soleste Reserve II improvement internet site, in accordance to information and true estate database Vizzda. The seller was an entity managed by Owen Sloan.
Estate also has submitted an software to the town of Davie for Soleste Reserve II, Suris said in a assertion.
The company had paid $6.9 million for the Soleste Reserve I advancement web-site in 2022, Vizzda data present. That venture is likely as a result of the approval system with Davie town officers, which include for a rezoning and internet site prepare.
If authorized, construction of Soleste Reserve I is predicted to start in July, Suris mentioned.
Estate, led by Suris and principal Jeff Ardizon, is a prolific South Florida multifamily developer that originally focused on Miami-Dade County and expanded to Broward and Palm Seashore counties in the latest yrs.
In downtown Hollywood, Estate is operating on 4 projects. It strategies the 23-tale, 378-unit Soleste La Piazza at 1845 Hollywood Boulevard the 12-story, 203-unit Soleste Hollywood Village North at 2000 Van Buren Avenue the eight-tale, 300-device Soleste Hollywood Village South and the eight-story, 324-device Soleste Hollywood Boulevard at 2001 Hollywood Boulevard.
Estate’s also is betting on downtown West Palm Beach, with strategies for an 8-tale, 321-unit Soleste Palm Station at 520 North Rosemary Avenue, a 50 %-mile stroll from the Brightline station.
Davie has attracted some new multifamily development. In November, Davie officials permitted an unsolicited bid by Prestige Companies to redevelop a former town wastewater internet site with a a few-tale complicated with 105 to 120 workforce-priced flats. The town also accepted donating the web page at 6101 Southwest 36th Court to Miami Lakes-based mostly Prestige for $10.
El-Advert National Attributes, a subsidiary of New York-based Elad Team, revealed plans past spring for a 2.8 million-square-foot mixed-use project with approximately 1,256 flats in five towers, ranging from 20 stories to 24 tales, at 4801-4999 South State Highway 7. The challenge, referred to as The District in Davie, will include 36,000 sq. ft of retail and eating places, and 2,650 parking spaces.
