Invesca breaks ground on phase two of Koi Residences & Marina in Pompano Beach

Phase two includes two 11-story rental towers with retail along east Atlantic Boulevard

TRD MIAMI /
Nov.November 22, 2017 02:00 PM

Rendering of Envy Pompano Beach and Invesca’s founder and CEO Christopher Longsworth (Credit: Invesca)

Invesca Development Group just broke ground on the second phase of Koi Residences & Marina in Pompano Beach, after securing a $28 million construction loan, property records show.

Florida Community Bank provided the financing to Invesca affiliate Envy Development PB LLC, led by Invesca’s founder and CEO Christopher Longsworth. The developer broke ground on the first phase of the project at 452 Southeast First Street in 2015, after closing on the 9.8-acre, 11-parcel site for an undisclosed price – an effort which took nearly three years to complete.

Phase two of Koi Residences & Marina, called Envy Pompano Beach, includes two 11-story rental towers that will feature retail along east Atlantic Boulevard, according to a release. Amenities at Envy include a cardio center, rooftop pool with cabanas, access to a 26-slip marina and zen gardens, which will feature annual art installations.

The rental units will add to the already completed 46 three- and four-story waterfront villas, part of phase one of the project.

The project is east of the Dixie Highway and just south of Atlantic Boulevard. Phase two broke ground on Monday and is slated to be completed the second quarter 2019, according to the release.

Invesca, based in Davie, is also in the midst of developing Strata at Plantation, which recently sold out its first phase of the 147 townhome development.

The firm joins a handful of developers contributing to Pompano’s recent growth. Projects in the pipeline include Aspire Real Estate Development’s 19-unit boutique condo project Arya Oceanside Residences and Sabbia Beach, a 19-story tower developed by Fernbrook Homes and Grupo Fernandez, which topped off in August.


Related Articles

arrow_forward_ios
Masoud Shojaee and a rendering of Shoma Village 

Shoma Group scores $67M loan for mixed-use Hialeah project

Shoma Group scores $67M loan for mixed-use Hialeah project
Housing Trust Group CEO and president Matt Rieger and Hudson Village renderings

HTG scores financing for Hollywood affordable housing project

HTG scores financing for Hollywood affordable housing project
J.C. de Ona, Southeast Florida Division President of Centennial Bank, Amelia Mixed Use rendering

Prestige Companies nabs loan for mixed-use project in Hialeah

Prestige Companies nabs loan for mixed-use project in Hialeah
Al Patel, President of Baywood Hotels and 1101 Northwest 57th Avenue (Credit: Google Maps)

Baywood scores $31M loan to build hotel near Miami International Airport

Baywood scores $31M loan to build hotel near Miami International Airport
Rendering of development

Pompano Beach multifamily development with workforce housing advances

Pompano Beach multifamily development with workforce housing advances
 Rendering of Father Marquess-Barry Apartments with Matt Rieger

HTG scores financing for senior affordable housing in Overtown

HTG scores financing for senior affordable housing in Overtown
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
Rendering of the project and from left: Vince Signorello, Ricardo Caporal and Greg West

Zom Living, partners score $57M loan for Ludlam Trail project

Zom Living, partners score $57M loan for Ludlam Trail project
arrow_forward_ios

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

Loading...