The Real Deal Miami

Lauderdale Lakes wants American Land Ventures to build single-family homes instead of rentals

Developer is close to buying about 23 acres of land for $1.7M
April 30, 2018 08:45AM

Oakland Park Boulevard at Northwest 31st Avenue and American Land Venture’s Granvil Tracy (Credit: American Land Ventures and Google)

American Land Ventures is close to buying about 23 acres of land in Lauderdale Lakes, where it plans to build a single-family home community.

Lauderdale Lakes commissioners originally negotiated with the developer to build 400 rental units on the city-owned lot, which sits on the south side of Oakland Park Boulevard at Northwest 31st Avenue. But Jason Robertson, vice president of development for American Land Ventures, told the Sun Sentinel that the city opted for single-family homes, instead.

The city commission is expected to approve a land-use change next week, according to the publication.

Plans are now to build 83 single-family homes that would range from 1,900 square feet to 2,700 square feet. Prices would start at $300,000, according to the Sun Sentinel.

The city’s Community Redevelopment Agency purchased the land for $5.7 million in 2010. If approved later this summer, the city would sell the lot for about $1.7 million, according to City Manager Phil Alleyne. The developer previously expected to spend about $100 million on the project.

American Land Ventures also developed the 18-story New River Village building in downtown Fort Lauderdale, as well as the Nu River Landings condo building and Las Olas by the River. [Sun Sentinel]Amanda Rabines