An affiliate of Continental Group plans to build an 80-unit affordable housing project in Dania Beach.
Continental Development Holding closed Friday on 2.5-acres of land at 1301 Southwest 12th Avenue for $1.4 million. The seller was 1301Venture, LLC, led by Pascal Cohen, president of Azur Equities.
The development will include four, three-story buildings. The apartments will include 12 apartments with one bedroom and one bathroom, each spanning 700 square feet, 48 two-bedroom/two-bathroom units, each with 1,050 square feet; and 20 three-bedroom/two-bathroom units, with 1,250 square feet, each, according to a release.
Rents will start at $1,000 per month.
In the first week of February, Continental will submit its plan to the Dania Beach Development Review Committee. Groundbreaking is expected to begin in 2020, and the project is slated for completion in fall 2021.
Continental Group, led by Juan Carlos Jurado and Juan Pablo Chirinos, is planning to develop 500 affordable housing units, including single-family homes, townhomes, multifamily units and duplexes, over the next four to five years throughout South Florida, according to the release.
The Dania Beach project comes as the city is seeing a wave of new development. Miramar-based Spirit Airlines announced it will build a new $250 million, 500,000 square-foot-campus in the Dania Pointe mixed-use project.
Dania Pointe will feature 800,000 square feet of open-air retail space, 500,000 square feet of Class A office space, more than 1,000 apartment and condo units, and a dual-branded Marriott hotel.