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South Florida

Alliance breaks ground on rare new rental complex in Coconut Creek

A green-certified luxury apartment complex is the first new rental construction coming to Coconut Creek in more than 10 years. GlobeSt.com reported that Alliance Residential Company broke ground last week on Broadstone Cypress Hammocks, a 396-unit complex on 24 acres at 5201 Hillsboro Boulevard that is slated to be completed in two years.

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The development will feature “Old Florida” architectural style with metal roof accents and stacked stone exterior details. Two large lakes will be created to give each apartment a view of the water or the wooded preserve surrounding the area. The homes are certified green by the National Association of Home Builders and 128 garages are also planned with the community.

“The market fundamentals are very strong and there is a pent-up demand for new product,” said Michael Ging, Alliance’s managing director of development for Florida. “Everything in the submarket is now 10 years old or older. The prior generation of Class A product is outdated and there is a need for an updated version of class A luxury rental product with superior finishes and a much more elaborate community amenity program.” [GlobeSt]