Monthly rents will range from $1,000 to $2,500 for one, two andthree-bedroom units sized from 754 sf to 1,582 sf.
Thirty-six luxury, two-story townhouses will be situated alongthe base of a 199-unit, nine-story midrise. The two-acre site willalso house a six-story concealed parking garage. Amenities includea theater, a 4,000-sf-clubhouse with fitness, sauna, steam, andmassage rooms, and a racquetball court. pool and Jaccuzzi are alsobeing built.
Fort Lauderdale-based BankAtlantic is providing the $22-millionconstruction loan. The net rentable 264,420-sf project is beingbuilt at a hard construction cost of about $144,680 per unit or$128.58 per sf. The area's occupancy rate is 90%.
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