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Altman Companies plans amenity-rich apartment complex in Kendall Square

January 21, 2013 01:30PM

A rendering of Kendall Square

Boca Raton-based developer the Altman Companies has closed on 24.6-acres in Kendall Square, where it will build a 321-unit apartment complex, the company announced today. Construction on the property, which is located at West Kendall Drive in Miami-Dade County, is scheduled to start immediately with first units to be delivered in the fourth quarter of 2013.The development will feature a mix of one, two and three-bedroom rental apartments and 6,000 square feet of retail. Residents will receive membership to a private resort-style 5,000-square-foot clubhouse. Other amenities will include a pool and spa, an outdoor activities pavilion with sports bar and demonstration kitchen, cabanas, a beach volleyball court, a dog park and access to 10-foot by 10-foot organic vegetables and herb garden.

TD Bank and Behringer Harvard are providing financial backing for the project and Bradley Associates and BBX Capital are the equity partners.

“We are very pleased to be partnering with the Altman Companies on this development, as we continue to build our investment portfolio,” Seth Wise, president of BBX Capital Asset Management, said.  —Christopher Cameron