MIAMI-Locally based Cornerstone Group Development has broken ground on the $10.3 million, 204-unit Baywind Apartments on nine acres at 11900 N.E. 16th Ave, North Miami, FL at a hard construction cost of $50,490 per unit. Completion is expected by July 2003
A 1908 farmhouse at the former mobile home park site will be remodeled into a clubhouse. Cornerstone closed on the land last year from an unidentified seller at an undisclosed price. Cornerstone didn't identify its construction lender.
Baywind will be managed by Cornerstone Residential Management.
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