Daily Newsletter

11 October 2023

Daily Newsletter

11 October 2023

Mill Creek breaks ground on Phase II of mixed-use community in Florida

The new properties' interiors will be designed in accordance with the previous phase.

October 11 2023

American rental community developer Mill Creek Residential has celebrated the ground-breaking of a mixed-use apartment community in Coral Springs, Florida, US.

Modera Coral Springs Phase II is set to feature 353 housing units and 32,280ft² of retail area.

This will be added to the 351-unit Coral Springs Phase I, which began taking in residents earlier in July 2023.

The communities are part of the residential component of the Cornerstone at Downtown Coral Springs development.

Coral Springs Phases I and II will be developed to achieve the National Green Building Standard Silver sustainability certification.

Phase II residents are anticipated to move in by late 2025.

Mill Creek Residential South Florida senior managing director for development Andrea Rowe said: “When Phase II is complete, local renters will have access to more than 700 apartment homes and approximately 40,000ft² of retail space.

“With Phase II, we are not aiming to duplicate the original phase, but to offer a distinct set of amenities and a unique but similarly refined living experience.”

Phase II will include one, two and three-bedroom floor plans with an average floor size of 1,021ft².

The phase will feature three elevated courtyards, a multipurpose clubhouse, outdoor barbecue stations and a museum-inspired lobby.

The interiors of the properties will be designed the same as in the previous phase. Features will include 9ft ceilings, wood plank-style flooring and private patios or balconies.

North America Construction market dynamics

Per GlobalData estimates, the North America construction market size is expected to reach $1,772.5 billion in 2023. The increased spending from the public and private sectors in the regional energy and infrastructure domain is projected to aid the market growth. The energy and utilities construction sector is expected to depict a AAGR of 8.7% in real terms from 2024 to 2027, supported by investments in regional renewable energy and oil and gas projects.

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