Posted on September 8, 2020 · Posted in Investments, Multi-Family, Retail

A developer plans a 79-unit apartment building with ground-floor retail space in west Dania Beach.

A rendering of the Griffin Living project

A vacant restaurant will be demolished to make way for the market-rate multifamily development to be called Griffin Living. It will be built on about 2 acres along the south side of Griffin Road, west of I-95.

Dania Beach commissioners just greenlighted the development and approving the second and final reading of a proposed rezoning, site plan, zoning variance and plat revision.

Developer Sharon Sharaby said construction of the six-story apartment building is expected to start in June 2021, and conclude in early 2023. The rezoning of the development site doubled the maximum building height limit to six stories from three.

Sharaby and Guy Levintin own Boca Raton-based BSD Capital, LLC, which bought the Dania Beach development site for $1.62 million in January 2019, according to property records. The site is located at 2750 Griffin Road, 2730 Griffin Road, and 4850 Southwest 28th Avenue.

Sharaby said monthly rent for one-, two- and three-bedroom units would range from about $1,400 to $2,200. Amenities will include a pool, a gym and barbecue area. About 17,000 square feet of ground-floor retail space will be marketed to such tenants as banks, cafés, dry cleaners, nail salons, pharmacies, and restaurants.

“Today, obviously, we tend to want the retail component to be more service-oriented retail that cannot be affected by online sales. Real estate development is increasing along Griffin Road in Dania Beach,” said Sharaby, who co-developed a 15,000-square-foot retail center one block east of the Griffin Living site. “The restaurant on the site closed and has been vacant since 2018, and it might have become a fast food location under different city leadership. You could probably put two drive-through, fast-food franchises on the property. But the city of Dania Beach did not want another Wendy’s or another McDonald’s, Burger King or Taco Bell.”

A record 28,000 multifamily units are under construction overall in South Florida, according to a recent report from Cushman & Wakefield.

 

Source: The Real Deal

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