The Estate Cos. (EIG) has received approval for Soleste Pompano Beach, a 253-unit luxury community with 4,000 square feet of retail space in Pompano Beach, Fla. The project is slated to break ground toward the end of the third quarter of 2022.
According to Senior Development Associate Nicholas Diaz-Silveira of The Estate Cos., Soleste Pompano Beach will be an amenity-rich Class A community that will provide an enhanced lifestyle experience at an attainable price to its future residents.
According to Yardi Matrix data, the company currently has one other project under development in Fort Lauderdale, a 503-unit community in the Hollywood submarket.
The eight-story Soleste Pompano Beach will encompass a mix of studio, one- and two-bedroom apartments, and live-in work units with a combination of residential and business space, ranging from 450 square feet to 1,050 square feet. The parking garage will comprise a total of 378 spaces. Common-area amenities will include a swimming pool, fitness center and picnic area.
The development will rise at 208 S. Federal Highway, on U.S. 1, north of East Atlantic Boulevard and 40 miles from Miami. Pompano Beach Pier is only 1.5 miles away. The residents will have access to nearby parks and several entertainment venues in the area. Dining and retail options are available in the vicinity, along East Atlantic Boulevard.
According to a Yardi Matrix report, Miami had 34,711 units under construction at the of 2021, with 214,911 apartments in the planning and developing stages.