AHS finances Deerfield development site with $13.5M loan
What was once a Deerfield Beach country club will now become an apartment community.
The AHS Development Group just financed a now-vacant piece of golf club land in Deerfield with a $13.5 million loan, likely ahead of beginning construction.
Located at 3800 Crystal Lake Drive, the 5-acre development site is being eyed by AHS for a new 125-unit rental community called the Village at Crystal Lake. According to the company’s website, its project would have a mix of one-, two- and three-bedroom apartments with a total of 109,051 rentable square feet.
The property was previously occupied by the Crystal Lake Country Club, which was replaced by a new facility in 2011 after servicing the neighboring 72-hole golf course for roughly a decade.
AHS, a Miami-based developer that focuses on building rental communities, picked up the Deerfield site two years ago for $1.4 million, according to Broward County records. The clubhouse building was later demolished in August 2015.
According to its website, AHS already has site plan approvals for its community, but appears to have missed its expected groundbreaking date of January 2016.
A request for comment to AHS was not immediately returned. The company is also in the midst of developing a new workforce housing project in Miami-Dade County near the Jackson South Community Hospital, and has a total pipeline of about 1,263 units either under construction or seeking entitlements in South Florida.
Across the street from AHS’ development site in Deerfield Beach, a company led by Albert Blommestyn is wrapping up work on a 117-unit apartment building called Crystal Riviera.