MIAMI-The $17.8 million Captiva Club, a 136-unit affordable rental community here, is being delivered this month. Located at 17680 S.W. 107th Ave., the development consists of 20 one- and two-story buildings on an 11-acre site. One-bedroom units are 702 sf, two-bedroom units with two bathrooms total 997 sf, and three-bedroom units are 1,210 sf. The monthly rental range in the community is from $508 to $685.

According to a spokesperson for the development, Cornerstone Group, the gated community is good for families and has amenities such as a children’s playground, a clubhouse with a pool, an exercise room, tennis courts, and a computer lab and recreation room.

“Captiva Club relieves some of the need for affordable housing in Dade County,” says Leon Wolfe, president of Cornerstone Group Development LLC, a subsidiary of Cornerstone Group that oversees all of Cornerstone’s activities related to affordable and market-rate rental housing development. “We have been leasing at such a high volume because tenants are attracted by the central location, with its proximity to shopping, day care, schools and churches.” At deadline, the community was 85% leased. Cornerstone Residential Management, a subsidiary of Cornerstone Group, will manage Captiva.

Cornerstone Group, founded in 1993 and based in Coral Gables, has developed more than 15,000 multifamily rental and condominium units in Florida. Cornerstone’s current affordable rental projects also include the 208-unit Bay Wind Apartments in North Miami, the 212-unit Hibiscus Pointe and the 350-unit Tuscany Place, both here. The developer’s other projects include market-rate rental projects Villa Del Sol and San Marino at Laguna Lakes in West Palm Beach, as well as luxury high-rise condo projects Vue Residences & Beach Club in Fort Lauderdale and La Perla Ocean Residences in Sunny Isles Beach.

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