Dumfoundling Bay Getting $40.9-Mil Multifamily Project

SUNNY ISLES, FL-Aventura Preserve Investors is planning a 500-unit apartment complex on Dumfoundling Bay at a cost of nearly $40.9 million or $81,700 per unit. The project is located about 20 miles north of downtown Miami.

By Pat Taylor | December 19, 2001 at 01:01 AM

The project is planned for 500 units with the development of two nine-story buildings and two six-story buildings. Altman Development Corp. is the developer for the owner. The contractor for the buildings is Suffolk Construction Co. of West Palm Beach. The construction contract is for $40.85 million or $81,700 per unit. The project is being partially funded with a $35-million loan from Bank of America. Sunny Isles is located north of North Miami Beach, about 20 miles from downtown Miami.

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