Fort Lauderdale-based Stiles began construction of a new mixed-use project in Plantation’s Midtown District. The development will include a two, 12-story buildings with 321 units at the northwest corner of University Drive and I-595. Stiles is building the apartments in a joint venture with Prudential Real Estate Investors. The residential project, named One Plantation, could be completed in the third quarter of 2013.
The mixed-use project would also include the University Shoppes retail and office center, which Stiles owns and is redeveloping. The entire development will spread over 5.5 acres.
The developer estimates 225 construction workers will be hired for the job. The partners obtained $40.6 million in construction financing for the apartments from PNC Bank.
