Colonial Park, which targets seniors ages 55 and over, was recently finished in Margate. The total development cost for this project was about $14 million. The four-story Broward County project, located at 1300 Banks Road, features 160 one- and two-bedroom units. The apartments range in size from 601 sf to 786 sf. The rental range is $680 to $805 per month.
Triad Housing Partners also is developing another senior apartment community in Broward County: The Meridian in Hollywood, FL. The Meridian's total development cost is approximately $15 million. Also totaling 160 units, the development has eight stories and is located at 2900 N. 26th Ave.
Oliver Pfeffer, one of the partners in Triad Housing Partners, tells GlobeSt.com that he expects the project to be completed close to July 15. The community currently is accepting rental applications.
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