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

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
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Avery Pompano Beach apartments with Yaakov Frankforter of Frankforter Group (LinkedIn via Frankforter, Avery Pompano Beach)
Frankforter Group buys Pompano Beach apartments for $43M
Frankforter Group buys Pompano Beach apartments for $43M
A rendering of Wynwood Haus
Wynwood Haus apartment tower in an Opportunity Zone scores $38M construction loan
Wynwood Haus apartment tower in an Opportunity Zone scores $38M construction loan
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
arrow_forward_ios

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

Loading...