Highland Gardens II

Location:
335 NE 48th Street
Deerfield Beach, Fl

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Leasing Information:
Professional Management, Inc.
Phone: (954) 596-5977

BCHA Development Department:
Parnell Joyce, VP Asset Management
Phone: (954) 739-1114 ext 2342
Sam Hornsby, Assistant VP Asset Development
Phone: (954) 739-1114 ext 2319

Community:
7.9 acres
Two three-story buildings = 100 units
Interior community room
108 parking spaces

Construction:
Masonry over slab-on-grade foundations
Exterior walls of stucco
Shingle roofing

The creation of new Senior Housing is often hampered by land costs.  The primary "affordable housing" elderly resident lives on a very fixed income.  New development, however, generally needs a rent structure to reflect the cost of property acquisition plus construction.
Highland Gardens II was able to deliver one hundred apartments by understanding the Broward County Land Use Plan and City of Deerfield Beach Zoning Code.  Highland Gardens II was built on a site that already contained a fully occupied building with 100 apartments.  Deerfield Beach zoning designated the property "Irregular (13) Residential".  Under the Broward County Land Use Plan and the the City's Zoning Code, one of the permitted uses under that designation was "Special Residential Facility, Category 3".  That permitted use allowed 238 "sleeping rooms" on the site. Using the appropriate land use and zoning code, in 2006 approval was received to construct "110 unit equivalant/238 sleeping rooms".  Construction commenced in December 2007 after multiple utility agreements and easements were completed between the existing site and the new site.  Construction was completed in December 2008 resulting in 63 new one bedroom apartments and 37 new two bedroom apartments (an additional 135 "sleeping rooms" to the existing 100).  Landscaping, exterior color palates, ingress, egress and parking were coordinated to create a seamless complex of 200 quality affordable senior apartments that gracefully occupy the 9.2 acre site.
Financial Information:
  • 1st Mortgage: $2,200,000
  • Construction Loan: $10,768,000
  • Partnership Equity: $14,750,000
    • Partners:
    • Architect: Forum Architecture and Interior Design, Inc.
    • Financing: Citibank and Wachovia Bank
    • Contractors: Pinnacle Housing Group 
    • Developers: BCHA through its affiliates with Pinnacle Housing Group