The firm’s first Class A community will be the 355-unit Mayla Pompano in Pompano Beach, Florida.
Grover Corlew -a real estate investment management group focused on acquiring and managing multifamily, office, and retail properties across the Southeast-has launched Mayla Residences, a new portfolio of ground-up multifamily communities.
According to the firm, the new portfolio will be built in markets throughout South Florida and beyond, reflecting the personality of the local communities and setting a high standard of living for residents.
“With Mayla Residences, we are dedicated to perfecting the multifamily living experience with refined luxuries, unanticipated conveniences, and spaces with local personality and flare. We have identified properties that are conveniently located and that meet the lifestyle needs of its discerning residents,” said partner Anuj Grover. “The goal is to create more connected, pedestrian -friendly communities, where people can live, work, and play.”
For the past 25 years, the firm has focused on acquiring, revitalizing, and repositioning multifamily units in Nashville, Tennessee, and Tampa, Florida, as well as suburban office and retail revitalization and development.
“Ground-up multifamily development is a next logical step for us as we begin to reimagine underutilized properties and land in our current portfolio.” added partner Mark Corlew.
The firm has secured $78.2 million in financing from PNC Bank for the construction of its first multifamily community under the brand-Mayla Pompano in Pompano Beach, Florida. The development is expected to break ground in February, with completion expected by July 2023.
The Class A Mayla Pompano will be comprised of 355 units in two buildings. Open floor plans will include studio to three-bedroom layouts ranging between 548 and 1,383 square feet. Units will feature spa-inspired bathrooms with soaking tubs, frameless shower enclosures, and back-lit vanity mirrors; kitchens with quartz countertops, high-end cabinetry with under-cabinet lights, stainless steel appliances, glass cooktops, and full-height tile backsplashes; walk-in closets; private balconies; washers and dryers; and hurricane-impact windows.
Amenities will feature a two-story clubroom, co-working spaces, a TV lounge, a 24/7 fitness center and yoga-aerobics room, resort-style pools with cabanas. outdoor kitchens, a dog spa, a bicycle repair station and storage, garage parking, storage cages, and interior mail and package rooms.
Mayla Pompano is part of Pompano Beach’s transformation efforts as businesses, retail, and entertainment venues move in along the East Atlantic Boulevard Corridor.
The development will transform nearly 3 acres of underutilized parking lots behind Grover Corlew’s 2401 Atlantic and 2335 Atlantic office buildings. It also will include 60,000 square feet of retail on the ground floor, wrapped parking, and a pedestrian plaza to activate the retail corridor and increase connectivity to the beach. Grover Corlew also has plans for interior and exterior renovations to its two existing office buildings to mirror the look of Mayla Pompano.
“We are extremely excited about Mayla Pompano;’ said Nguyen Tran, director of the Pompano Beach Community Redevelopment Agency (CRA). “The CRA was intimately involved to help get this project, which includes 53 units of workforce housing, off the ground. Due to the lack of signature projects of this size in the immediate area, the spinoff impacts due to the spending of the residents will create an economic boost to the surrounding businesses, generate new developments, increase demand for more commercial space, and provide additional employment opportunities. This is what CRAs are all about and why we got involved .”
The new development, which is designed by MSA Architects and will be built by Verdex Construction, is expected to create an estimated 600 jobs.