Stiles launches mixed-use project in Plantation

Stiles has begun construction on One Plantation, part of a new mixed-use development in Plantation’s Midtown district, a joint venture with Prudential Real Estate Investors. The project, which is located at the northwest quadrant of I-595 and University Drive, is a combined retail/residential community. “We foresee continuing, strong demand for amenity-rich rental residences just steps away from shopping, dining, services and entertainment,” said Stiles President Doug Eagon, who said a Stiles partnership acquired the site several years ago. Stiles and Prudential have obtained $40.6 million in construction financing from PNC Bank. The project’s residential component will include two 12-story towers totaling 321 residences. — Alexander Britell

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Note: an earlier edition of this article listed Plantation Place as the project. Plantation Place is the commercial portion of the project, while One Plantation is the joint residential venture between Stiles and Prudential.