MIAMI-Bainbridge Communities of Wellington, FL is planning to develop a new 237-unit, luxury apartment community called Fairview Forest Signature Apartment Homes in Stuart, FL. The approximate project cost is $25 million. Bainbridge expects to break ground on the gated complex in January and open in late summer 2003.
The apartments will range in size from 800 sf for one-bedroom units to 1,600 sf for four-bedroom units. The rental range will be $900 to $1,900 per month. Fairview Forest Signature Apartment Homes will be located on Kanner Highway approximately a quarter mile west of U.S. Highway 1.
The developer is aiming to make the apartments the “most luxurious” in Martin County. They will have high-end single-family, home-type interiors and amenities. Several of the apartments will have attached garages.
Other amenities at Fairview Forest will include a luxury clubhouse with a large fitness facility; a lakeside swimming pool; a recreation, card and billiards room; a tennis court; picnic and barbecue areas; a sand volleyball court; and lake and gazebo gathering areas.
Bainbridge Communities, a South Florida developer that builds high-end apartments and leases and manages them after they are completed, will be the community's owner, developer, builder and manager.
Bainbridge has experience in the ownership, acquisition, development and management of institutional-quality real estate, including luxury multifamily and mixed-use projects.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
