El-Ad National Properties Secures Construction Loan For $1 Billion, 2.8 MSF Mixed-Use Project In Davie

Award-winning developer El-Ad National Properties, an Elad Group company with a South Florida-based team, has secured a construction loan totaling $85 million from Valley National Bank to advance vertical development of The District in Davie, a $1 billion, 2.8 million-square-foot mixed-use residential and commercial project that is transforming one of Broward County’s most prominent intersections.

This financing milestone paves the way for construction to continue on what is the largest multifamily development in the town’s history. The District in Davie is being delivered in three distinct phases, beginning with phase one, along with supporting retail, dining, amenities, and parking. Phase one is on track for completion in December 2026.

“This closing marks a major step forward in the development process,” said Matthew Jeffries, CEO of El-Ad National Properties. “We’re excited to move into the next phase of construction and continue delivering a vibrant new destination that reflects Davie’s growth and energy.”

Located at 4801–4999 South State Road 7, The District in Davie will feature five residential towers ranging from 21 to 24 stories, with approximately 1,292 rental residences, 36,000 square feet of restaurants and retail, and 1.1 million square feet of access-controlled parking with 2,650 spaces. Each tower will offer thoughtfully designed studio, one-, two-, and three-bedroom floor plans, some with dens, ranging from 589 to 1,460 square feet.

Residences will include high-speed internet, smart thermostats, and keyless entry, as well as expansive private terraces on each floor. Amenities across the buildings will include rooftop pools, coworking spaces, pet parks, children’s play suites, 24-hour fitness and spa treatment rooms, outdoor kitchens, game lounges, and a reservable Sky Lounge for indoor and outdoor entertaining.

The project’s architectural team includes Cooper Carry of Atlanta. Promethean Builders LLC serves as the general contractor.

With its strategic location in central Broward County, Davie is considered one of South Florida’s fastest-growing suburban communities. The town is home to the South Florida Education Center, which includes Nova Southeastern University and several other major institutions. Its proximity to I-595, the Florida Turnpike, I-75, Fort Lauderdale-Hollywood International Airport, and Port Everglades makes it an ideal residential hub for professionals and families.

It is conveniently located near major roadways, the airport and seaport, universities, and top-tier entertainment.