Key International, 13th Floor Close On 4.3-Acre Coral Springs Site, Plan Mixed-Use Development

A joint venture between Miami-based real estate developers Key International and 13th Floor Investments has acquired a 4.2-acre vacant site in Broward County’s City of Coral Springs for $8 million where the team plans a mixed-use residential and retail development.

“Coral Springs has evolved tremendously in the last couple of years,” said Co-President of Key International Inigo Ardid. “This development meets a surging demand for new, state-of-the-art housing and modern retail amenities to enhance the city’s urban core.”

Located on the northeast corner of Sample Road and University Drive, plans for the project include an eight-story multifamily building with 377 residential units, approximately 11,525 square feet of ground-floor retail space, and a 629-space parking garage. The site is in the heart of downtown Coral Springs, an area which is undergoing a major transformation to create a vibrant live, work, play hub that is complementary to the city’s recent growth.

“We’re very excited by the opportunity to maximize the use for this exceptional site,” says Acquisitions Associate for Key International Martin Aranzabe. “This project will be an integral piece of downtown Coral Springs, adding to the current momentum and creating much needed housing.”

The development team has worked in tandem with the City of Coral Springs to present a project that is strategically aligned with the vision for the downtown neighborhood. Plans for the site also feature several public improvements to the surrounding streetscape including a water fountain, public art installation, benches and shade trees.

Roberto Susi, Principal of Axiom Capital Partners, represented the buyers in the off-market deal.

Miami-based Key International and 13th Floor Investments are also co-developing a 747-unit residential development within the Parks at Delray, a 50-acre mixed-use community now under construction in Delray Beach.