Plantation, Fla. — The company plans to build on a burgeoning live-work element in Plantation’s Midtown district.
Plantation, Fla. — Stiles has begun construction of a new mixed-use development with several green features in Broward County. The residential component is a luxury-apartment community designed to achieve LEED certification called One Plantation, which is a joint venture with Prudential Real Estate Investors (PREI).
It will be a gated apartment community on a 5.5-acre site with 12-story towers and a total of 321 residences, a 15,600-square-foot clubhouse and a parking garage.
Stiles independently owns and is redeveloping the commercial real estate component, the adjacent University Shoppes. The residential community will be complete June 2013, and the retail is anticipated to open in early 2014.
“A Stiles partnership acquired the site several years ago, recognizing its potential as a cornerstone location in the city of Plantation’s vision for Midtown,” said Stiles President Doug Eagon in a release. The partnership with PREI has obtained $40.6 million in construction financing through PNC Bank. Cohen Freedman Encinosa architects designed the multifamily complex.