Developers plan Lauderhill mixed-use, multifamily development with 245 units

Hollywood-based Matthew Jacocks and Las Vegas-based Schulman Properties are developing the project

Lee Associates' Matthew Jacocks along with a rendering of the 441 Arthouse project (Lee Associates, iStock)
Lee Associates' Matthew Jacocks along with a rendering of the 441 Arthouse project (Lee Associates, iStock)

Developers plan a Lauderhill rental project that may include affordable housing.

The Lauderhill City Commission on Monday approved 441 Arthouse, a mixed-use development on U.S. 441 with 245 units and 10,000 square feet of commercial space.

Hollywood-based developer Matthew Jacocks said the units will include at least four two-story townhouses marketed as living and working spaces for artists.

Lauderhill commissioners granted a special exception use development order allowing construction of the units in a commercial zone on U.S. 441, also known as State Road 7.

Jacocks, who has a contract to acquire the development site, said his partner in the $78 million 441 Arthouse project is Las Vegas-based Schulman Properties.

The developers expect to break ground in the second quarter of 2023 and complete construction of 441 Arthouse in one year, Jacocks said Tuesday.

The project is pending a development agreement with the city because the developers are requesting abatement of property taxes on 441 Arthouse, Jacocks said. He declined to discuss details of the tax-abatement proposal.

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He said a development agreement with the city also may include a deal to allow more than 245 units at 441 Arthouse if some of the units are designated as affordable housing reserved for tenants with below-average income.

The project also is pending approval of a site plan for 441 Arthouse, which will be submitted next week, he said.

The vacant, two-parcel development site is on the west side of U.S. 441 in Lauderhill between Northwest 21 Street and Northwest 19 Street.

The owner of the site, 2001 Property Ventures LLC, managed by Meir Benzaken, acquired it for about $1.7 million in 2016, records show.

441 Arthouse will have studios and one-, two- and three-bedroom units. Sizes will range from just over 700 square feet for studios to nearly 2,000 square feet for some three-bedroom units. Tenant amenities will include a swimming pool, fitness center, dog park, and barbeque areas.

Several properties in Lauderhill have traded in recent months.

In a bulk purchase, REO Asset Specialists bought 154 units at One Circle Condominium in Lauderhill for $17.4 million in March. The purchase gives Miami-based REO controlling interest in the property, which has a total of 192 units.

In February, North Miami Beach-based Treevita bought Victoria at Lauderhill Apartments, an 88-unit apartment complex, for $12.8 million; and Clarion Partners paid $72 million to acquire the Serramar Apartments in Lauderhill, an 18.4-acre garden apartment complex with 302 units.

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