FORT LAUDERDALE—As the next wave of multifamily development gets under way in South Florida, Alliance Residential Company is diving in head first with the purchase of 24 acres of land in Coconut Creek. Alliance is moving quickly to  build a 396-unit NAHB green-certified luxury apartment community on the site.

The multifamily developer broke ground on the project last week. Dubbed Broadstone Cypress Hammocks, the clubhouse and first multifamily units are scheduled to be delivered in the first quarter of 2013. Completion of the multifamily project, which is located at 5201 Hillsboro Blvd. in northern Broward County, is slated for April 2014.

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