Prestige Companies breaks ground on Hialeah apartments

Developer to close $18M construction loan soon

Jan.January 31, 2018 11:30 AM

Las Vistas at Amelia rendering and Alex Ruiz (Credit: Prestige Companies)

Prestige Companies just broke ground on Las Vistas at Amelia, a 174-unit rental complex in Hialeah.

The Miami Lakes-based developer expects to soon close on more than $18 million in construction financing from Centennial Bank, Prestige principal Alex Ruiz said.

Las Vistas at Amelia will be built at 7925 West 2nd Court, just north of Florida State Road 924 and next to Amelia Earhart Park. Records show Prestige affiliate Amelia Hialeah Holdings LLC paid $5 million for the 4.8-acre property in 2016.

The project will feature two-bedroom apartments averaging 900 square feet with monthly rents priced at $1,500, Ruiz said. Units will come with hurricane impact windows, washer and dryers and granite table-tops. The garden-style community will target millennials, and is set to be completed in about a year.

Prestige has been busy developing in the area. The developer recently built Amelia Oaks, a nearby 82-unit rental project.

Las Vistas at Amelia and Amelia Oaks join a number of other residential and commercial developments trying to court millennials in Hialeah, including MS Development’s and L. Michael Osman’s proposed Apogean Pointe mixed-use project.

Related Articles

Armando Codina and his daughter, Ana-Marie Codina Barlick and Beacon Logistics Park

Biggest private corporation in US inks lease at Beacon Logistics Park

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

IMC Equity’s Yoram Izhak and 1490 West 49th Place (Credit: Google Maps)

IMC Equity snags Hialeah office building from Cofe Properties

1000 Southeast 8th Street, Andrew Gurewitsch and Harry Weisman and Barry Katz

Duty Free Americas owner will have to pay taxes on this sale

Daily Digest Miami

Lawsuit accuses Douglas Elliman’s Jay Parker of backing out of real estate commission agreement, Elysee Investments picks up Fort Lauderdale retail center: Daily digest

Camilo Niño and Pasteur Medical Center

Linkpoint Properties nabs Pasteur Medical Center in Hialeah for $5M

RREEF Property Trust’s CEO W. Todd Henderson and Centergate at Gratigny

RREEF America buys Hialeah industrial property for $178M

From left: Alejandro Arias, Keren Marti, Avra Jain, Carolina Herrera, Luis Gonzalez, and Melissa Rose (Credit: Brett Hufziger Photography, Google Maps)

New frontier? Developers look to Hialeah