Broadstone Cypress Hammocks will offer an "Old Florida" architectural style with metal roof accents and stacked stone exterior building detail, blending into the mature wooded preserve conservation areas surrounding the property. With the creation of two large on-site lake features, nearly every apartment home in the community will offer views of a lake or the wooded preserve.

“Our location in Coconut Creek is on the southern border of Boca Raton and the eastern border of Parkland, which are two of the most desirable housing markets in southeast Florida,” Ging says. “Everything in the submarket is now 10 years old or older. The prior generation of Class A product is outdated and there is a need for an updated version of class A luxury rental product with superior finishes and a much more elaborate community amenity program.”

As part of the multifamily community's pursuit of green certification, homes will incorporate a variety of green features, including Energy Star appliances, programmable thermostats, tinted windows, and energy-efficient air conditioning systems and lighting fixtures. The multifamily community will also offer 72 attached and 56 detached garages, as well as additional storage opportunities.

“Without a doubt, the most challenging aspect of building in this current cycle has to do with financing,” Ging says. “The equity investors are being very selective when it comes to new development activity. It seems that development equity capital is very limited. Construction debt is more readily available and the terms have improved significantly over the last year.”