A Puerto Rico-based developer won city approvals for a mixed-use development in Hallandale Beach with 116 rentals, including 17 affordable housing units with below-market rents.
The Hallandale City Commission on Wednesday unanimously approved SAG Development’s applications for a major development plan, zoning variances, and so-called “redevelopment area modifications” to allow the planned project at 219 Pembroke Road, a 1.5-acre site east of I-95 near the Big Easy Casino.
The commission conditioned its approvals on a commitment by SAG Development to designate 17 of the 116 planned rentals as affordable housing for moderate-income tenants who earn up to 120 percent of the median income in Broward County. Median household income in Broward is $75,534 a year, according to the county’s Urban Planning Division.
Three blocks west of the Big Easy Casino, the mixed-use development site is bordered on the north side by Pembroke Road, Northwest Second Avenue on the east side, Northwest Third Avenue on the west side, and Northwest 10th Street on the south side.
Eight of the 116 rentals would be two-story townhouse units fronting a two-story parking garage with 179 spaces along Northwest 10th Street. The development also would include about 7,500 square feet of ground-floor commercial space with eight bays for tenants along Pembroke Road.
Among other approvals, the Hallandale Beach City Commission granted the developer four variances from zoning standards for front setbacks, rear setbacks, façade design, and landscaping. The commission also approved redevelopment area modifications related to parking-space design and civic open space.
SAG Development is expected to pay a building permit fee of about $523,000, based on the developer’s estimated construction cost of $20 million.
The commission agreed with city staff that SAG Development’s eight-story mixed-use project is compatible with nearby developments. These include Ashworth at Hallandale Beach, a five-story multifamily complex with 398 apartments, being developed by Coconut Grove-based 13th Floor Investments, led by managing principal Arnaud Karsenti. Ashworth is now under construction just east of the front entrance of the Big Easy Casino at 831 North Federal Highway, which is owned by Jeffrey Soffer’s Fontainebleau Development.
SAG Development acquired the development site in early 2023 in 10 deals, including seven in January 2023 totaling $1.4 million, according to Broward County property records.
The other three deals were quit-claim deed transfers to SAG Development in February 2023 from a married couple, Jacky Aizenman and Gina Aizenman, who shared the same postal address in Aventura as SAG at the time of the transfers, according to property records and state corporate records. According to his LinkedIn profile, Jacky Aizenman is president of a San Juan, Puerto Rico-based company called ASG Investment Corp.
State records also show that the authorized member of SAG Development is Fastcap LLC, which has a postal office box in San Juan, Puerto Rico. SAG did not respond to a request for information.