Rilea Group plans a 237-unit apartment building in Dania Beach, marking continued development appetite in the city.
The Miami-based firm wants to build the 12-story Mangrove at Dania Beach on 2 acres at 480 East Dania Beach Boulevard, according to a Rilea news release. The city has approved the project and construction is expected to begin in the fall. Completion is slated for late 2025.
Mangrove would overlook an 1,800-acre natural preserve that includes West Lake and Anne Kolb Nature Center.
The project comes amid a development flurry in Dania Beach.
Mangrove will be close to Dan Kodsi’s Elevate Apartments, an eight-story building with 293 units under construction at 600 East Dania Beach Boulevard. In December, Kodsi’s Royal Palm Companies scored a $76.5 million construction loan for the project.
Also nearby, the Pérez family’s Related Group scored approval in 2021 for a 14-story, 355-unit apartment building at 901 East Dania Beach Boulevard.
Completed projects include Cymbal DLT’s 301-unit Oasis Pointe apartment building at 150 South Bryan Road, which was finished last year.
Based in Miami, Rilea has developed some of Brickell’s marquee towers. They include the 1450 Brickell Avenue and Sabadell Financial Center office towers, as well as The Bond condominium.
Alan Ojeda founded the firm in 1981 and is CEO, and his son, Diego Ojeda, is president.
In recent years, Rilea has also wagered on Miami’s Wynwood. Its projects there include the 12-story, 260-unit Mohawk at Wynwood on a full city block at 31 and 37 Northeast 28th Street, as well as at 56 Northeast 29th Street.
South Florida’s multifamily developers rushed to seize on the hot market in the past two years. More recently, the construction frenzy has slowed because of expensive financing, skyrocketing insurance premiums, and costly labor and materials. In the meantime, many developers have focused on obtaining project approvals.
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