The Real Deal Miami

Lennar plans luxury rentals in Plantation’s Midtown District

Lennar will break ground in early 2018 with completion expected in 2019
October 04, 2017 02:06PM

Rendering of new 271-unit rental project at 600 North Pine Island Road (Credit: Godart Florida Real Estate Investments)

Lennar Corp plans to deliver a 271-unit luxury apartment building in Plantation’s Midtown District, according to the Sun Sentinel.

The Miami-based developer won approval from the Broward County Commission in July to build an apartment complex in the parking lot of the Lakeside Office Center complex at 600 North Pine Island Road.

The luxury building will be developed by the company’s Multifamily Communities division, according to the Sun Sentinel. Records show two affiliates of Beverly, Massachusetts-based Brookwood Financial Partners sold about five acres of their 12.4-acre site to Lennar on Aug. 31 for $6.4 million.

Thomas Godart, managing director of Godart Florida Real Estate Investments, said in a release that Lennar will build a parking garage for both office center tenants and residents of the new rental community.

Lennar plans to break ground in early 2018 with an expected delivery date in 2019, according to the Sun Sentinel.

Plantation has seen a flurry of development. Coconut Grove-based TM Real Estate Group plans to develop a mixed-use project on 25 acres in Plantation called Plantation Midtown Square. Last month, an entity of the Falcone Group scored a $23 million loan for its $350 million mixed-use project on the site of the former Plantation Fashion Mall.

Last month, Lennar said Hurricanes Irma and Harvey are expected to delay more than 800 home deliveries in Florida, Georgia, South Carolina and Texas from its fourth quarter to the next fiscal year. [Sun Sentinel]Amanda Rabines