Construction Updates

Estate Companies scores $56M construction loan for Dania Beach mixed-use project

Tuesday, March 16, 2021 - 3:12pm

Motwani bought the land in 2017 

The Estate Companies secured financing for a new mixed-use project in Dania Beach.

The apartment developer closed on a $55.5 million construction loan from Synovus for a new eight-story, Class-A mixed-use development, called Soleste Cityline, at 4 North Federal Highway. The development will consist of 340 luxury rental units and retail space, according to a press release.

Dev Motwani, president and CEO of real estate investment and development firm, Merrimac Ventures, bought the property in 2017 for $5 million and is a partner in the project. 

“I felt that Dania [Beach] was going to be a popular place,” Motwani said.

In September, Motwani and Merrimac Ventures brought on the Estate Companies as a development partner for the multifamily portion of the project, and later partnered with Miami-based Tricera Capital for the retail portion.

The apartments will include studios, one-, two- and three-bedroom units, ranging from 600 square feet to 1,200 square feet.

ADVERTISEMENT

Soleste Cityline will also feature amenities, including a pool deck, fitness center, outdoor grilling stations and a clubroom.

The retail space will span 12,800 square feet. There are no specific retail tenants at the moment, according to Motwani, but he expects neighborhood and service-oriented retail, as well as food and beverage.

The developers plan to break ground this quarter.

Last year Motwani bought a Fort Lauderdale development site for $14 million, and may build residential, retail or possibly a hotel on the site. 

Read more

The DBCRA Invites Neighborhood Ambassadors to Get an Exclusive First Look at the Place at Dania Beach.

Wednesday, May 31, 2017 - 11:34am

Dania Beach, FL (5.15.2017) - The Dania Beach Community Redevelopment Agency (DBCRA) will be hosting the second Neighborhood Ambassadors Event of the year on May 25th at the Place at Dania Beach located at 180 East Dania Beach Blvd from 6-8PM. Attendees will catch up on all happenings in the City of Dania Beach, gain “insider” knowledge on upcoming business events, new developments and plans for City Center improvements AND GET VIP BEHIND THE SCENES ACCESS TO THE PLACE AT DANIA BEACH!

The Place at Dania Beach will play a key role in the development of Downtown Dania Beach and East Dania Beach Boulevard. This project will create a new urban experience within in the City of Dania Beach and is the first mixed use development to open Downtown. The design integrates first floor storefronts, that the developer, AHS Development Group, hopes to fill with restaurants, coffee shops and small scale retail and service establishments. The project also includes 144 rental units within 5 floors that also includes townhome-style residences with direct access along S.E. 2nd Avenue as well as 1 and 2-bedroom apartment style units. The buildings geometry emphasizes a circular lobby, step backs, geometrical shapes, balconies and detailing that accomplishes a contemporary design concept. Amenities will provide for a luxury living experience including an expansive gym, 243 car garage, recreation room, roof top pool, sundeck, barbeque area with bar, and street-level shops. Residents will enjoy a beautiful and exciting environment at this landmark new development, The Place at Dania Beach.

Rachel Bach, Executive Director of the DBCRA said, “We are very excited to be hosting this sneak preview of the Place at Dania Beach prior to leasing! This project will be a dynamic addition to Downtown Dania Beach and will be a destination for City residents and businesses.”

To RSVP contact Kisha Payen kpayen@daniabeachfl.gov. For more information, contact the CRA at 954-924-6801.

Read more