POMPANO BEACH, FL - Miami-based Coral Rock Development Group and Paragon Group of Florida today unveiled plans for Highland Oaks, a Pompano Beach-based affordable housing townhome project.
Set on a 10.75-acre site at 921 N.W. Third Avenue, Highland Oaks will encompass 138 units of affordable housing consisting of 70 two-bedroom units of about 1,000 square feet, 68 three-bedroom units of about 1,250 square feet and 305 parking spaces.
Offering uniquely expansive townhome units catering to a larger family or a mature family requiring more space and storage, the majority of units will come with a covered garage, which can be used for storage or parking of an additional vehicle. Featured community amenities will include a tot lot, computer lab, gym, and vita course around the property for outdoor exercising.
“At Coral Rock Development, our goal is to look for transformational and niche opportunities that will best serve the community. When we set out to develop this project our goal was to create an offering that meets the needs of families who require more space than the standard two or three bedroom-style units currently available,” said Stephen Blumenthal, principal of Coral Rock Development Group. “Pompano Beach is a market that has a continuing need for workforce and affordable housing and we’re grateful to the Broward County Housing Finance Authority, Ralph Stone and Debbie Zomermaand who have supported us in bringing this community-driven development to the area.”
Highland Oaks is conveniently located near Blanche Ely High School, and just minutes from major thoroughfares including I-95 and Atlantic Boulevard.
“We are very pleased to partner with Coral Rock Development Group on this project that will complement the existing affordable housing stock in this area. The large infill site alone was a unique opportunity to create a townhome rental product of this distinctive size that offers such expansive space for families,” said Luis Gonzalez, principal of Paragon Group of Florida. “Highland Oaks will stand apart from the area’s traditional three-story garden style buildings and we look forward to delivering this product.”
Groundbreaking on the project will begin before the end of the year and is slated for completion in the fourth quarter of 2021.
About Coral Rock Development Group: Coral Rock Development Group aligns four of South Florida’s leading veteran commercial real estate builders and developers – Stephen A. Blumenthal, David Brown, Victor Brown and Michael Wohl. The partners have earned well-established reputations for high-quality, innovation and value in the related industries of multifamily, commercial, industrial and mini storage. Coral Rock’s principals bring their distinct, respective strengths to the firm with a focus on mixed-use developments across the state of Florida. For more information, please visit www.coralrockgroup.com
About Paragon Group of Florida: Established in 2012, Paragon Group of Florida is a full service real estate development company committed to the creation of superior residential and mixed-used developments that incorporate the latest in design and technology.