Miami-based real estate investment and development company Integra Investments announced the groundbreaking of Wrecker’s Cay Apartments, one of the largest workforce housing communities in the Florida Keys in more than 50 years. The privately-funded, 280-unit development, located on Stock Island, will provide much-needed housing to the Florida Keys upon completion in 18 months.
Wrecker’s Cay Apartments spans across nine waterfront acres at 6125 2nd Street in Key West, and will introduce 70 low-income units, 98 median income units, and 112 moderate income units. The development, which has garnered positive local support for its significant impact, will greatly combat the market’s housing crisis at a time when serving the lower to moderate income population has never been more vital.
“Understanding the importance of high-quality, market-rate housing development in any community with an active workforce, this project brings Key West one giant step closer toward promoting protracted economic growth,” said Integra Investments Principal Victor Ballestas. “We have taken great pride in working alongside city leaders and thank them for their mutual commitment as we initiate construction.”
Wrecker’s Cay will feature a variety of floorplans designed to suit all needs, including one-, two,- and three-bedroom apartments. Residents will enjoy a wide range of community amenities, including a children’s playground, a fully equipped state-of-the-art fitness center, a clubroom with catering kitchen, an expansive pavilion with outdoor kitchen, and a resort-style pool overlooking the shoreline.
A commonality among Integra Investments’ workforce housing projects throughout South Florida is connectivity as a cornerstone. Proximity to critical transportation and everyday conveniences are key tenets to serving individuals and families who seek these residential offerings. Situated near the entrance of Stock Island, Wrecker’s Cay Apartments will afford swift access to Key West’s core, multiple transportation hubs for local workers and the main thoroughfare of Overseas Highway.
Integra Investments’ development of Wrecker’s Cay Apartments aligns with its long-term commitment to address affordable and workforce housing shortages in South Florida markets. As a prominent player in commercial and residential real estate throughout Florida, the company is behind notable ventures, including the innovative Aventura ParkSquare mixed-use development in Aventura, Florida; Hallandale Beach’s apartment community ArtSquare; and Bella Vista Apartments in Lauderhill Lakes.
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.