AHS scores $11M construction loan for Lake Worth apartments

Miami /
Oct.October 29, 2015 03:00 PM

Two months after breaking ground on its apartment project in Lake Worth, the AHS Development Group has closed on an $11 million construction loan.

AHS, which is based in Miami, started construction on its Village at Lake Osborne apartment community in August. The loan was issued October 15th by TD Bank, according to Palm Beach County property records.

The project includes 118 units housed in three “Key West style” buildings, all of which will be three stories, located at 2430 Lake Worth Road. Amenities will include a manmade lake, surface parking and an on-site pool.

Construction is being handled by the in-house contractor, AHS Construction.

AHS first purchased the vacant 4.8-acre lot in 2013 for $1.25 million, property records show. That price breaks down to roughly $6 a square foot.

According to its website, the developer has two more apartment projects under construction: The Place at Dania Beach, with 144 units and 8,000 square feet of ground floor retail, and the Village at Princeton Grove, which has 216 garden-style apartments in Princeton, Florida.

Both of those projects broke ground within the last two years and are expected to open in 2016.


Related Articles

arrow_forward_ios
4238-4276 Northwest 7th Street in Miami, Avison Young’s Michael Fay, John Crotty, David Duckworth, Brian de la Fé, Emily Brais and Berkley Bloodworth
Mixed-use Le Jeune Road dev site heads to market for $17M
Mixed-use Le Jeune Road dev site heads to market for $17M
Vlad Doronin, Len Blavatnik, and 3425 Collins Avenue (Credit: Google Maps, Gesi Schilling, and Mark Neyman / GPO)
Developer of Aman-branded towers in Miami Beach scores $35M loan
Developer of Aman-branded towers in Miami Beach scores $35M loan
Rendering of 57 Ocean and Marcelo Kingston (Credit: DBOX)
57 Ocean in Miami Beach scores $59M construction loan
57 Ocean in Miami Beach scores $59M construction loan
JPMorgan Chase CEO Jamie Dimon (Credit: Win McNamee/Getty Images, Google Maps, iStock)
JPMorgan Chase buys own branch in West Palm
JPMorgan Chase buys own branch in West Palm
South Florida lenders and landlords battle new coronavirus reality
South Florida lenders and landlords battle new coronavirus reality
South Florida lenders and landlords battle new coronavirus reality
Moishe Mana and 25 West Flagler Street
Moishe Mana buys City National Bank building in downtown Miami
Moishe Mana buys City National Bank building in downtown Miami
Brickell Flatiron and Ugo Colombo
Ugo Colombo pays off $236M construction loan for Brickell Flatiron
Ugo Colombo pays off $236M construction loan for Brickell Flatiron
Rendering of Sailboat Bend II
Affordable housing project in downtown Fort Lauderdale lands $27M loan
Affordable housing project in downtown Fort Lauderdale lands $27M loan
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...