BBX Capital Real Estate Inks JV with The Altman Companies to Develop Miami Apartment Community

BBX Capital Real Estate Inks JV with The Altman Companies to Develop Miami Apartment Community

FORT LAUDERDALE, FL - BBX Capital Real Estate, a division of BBX Capital Corporation, announced it has entered into a joint venture agreement with The Altman Companies to develop Altis at Bonterra.

Located within BBX Capital Real Estate's Master-Planned community of Bonterra in Hialeah, Florida, Altis at Bonterra plans to develop 314 apartment homes on approximately 14 acres. 

It is anticipated that Altis at Bonterra will offer a mix of one, two and three bedroom apartment homes averaging approximately 1,063 square feet. Units are expected to feature gourmet kitchens, energy star appliances, granite counters, contemporary espresso cabinets as well as spa-inspired baths with raised vessel sinks, marble counters and spacious linen closets. The development currently plans to offer a community garden, dog agility park and membership in a resort style 6,245 square foot clubhouse which includes a beach entry pool, pool pavilion, outdoor kitchen, pool-side cabanas, full circuit fitness center, movie entertainment area, game room, and a kids' play 'n study area. 

Altis at Bonterra will be located on the northwest corner of the Bonterra community (southeast corner of NW 97th Avenue and NW 154th street). The first apartments are anticipated to be delivered in the first quarter of 2017.

Including Altis at Bonterra, the master-planned Bonterra community will comprise of approximately 128 acres of land and is currently planned to feature 1,171 highly stylized single-family homes, villas, town homes, and apartments, along with several parks and a 15 acre lake.

Bonterra is conveniently located near Interstate 75, Florida Turnpike, Palmetto Expressway, and Miami International Airport. 

"We are pleased to announce our continued progress with Bonterra and this joint venture with The Altman Companies," said Seth Wise, President of BBX Capital Real Estate. "The Altman Companies is highly respected in the rental apartment field and we are excited to partner with Altman to bring a luxury apartment community to the city of Hialeah." 

"Bonterra is a desirable location and is easily accessible to Miami, the proposed American Dream mega mall and nearby employment opportunities," said Joel Altman, Chairman of The Altman Companies. "We believe Altis at Bonterra is well positioned to capitalize on significant growth in rental demand in the area due to Hialeah's attractive supply and demand fundamentals. We are excited to partner again with BBX Capital Real Estate."

Atlis at Bonterra is BBX Capital Real Estate's third multi-family apartment collaboration with The Altman Companies. Other projects include Altis at Kendall Square, a 321 apartment development in Miami, Florida, and Altis at Lakeline, a 354 apartment development in the northwest area of Austin, Texas. 

BBX Capital Real Estate previously announced a joint venture agreement with CC Homes - a Codina-Carr Company, to develop approximately 394 single-family homes at Bonterra, and recently sold an approximate 36-acre parcel of land in Bonterra to Lennar Corporation, on which Lennar plans to build approximately 463 single-family homes, villas and townhomes.

Source: The Altman Companies / #Apartments #Multifamily

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