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Grover Corlew Obtained a $78.2 million Construction Loan to Help it Launch its Newly Branded Apartment Project in Pompano

The Boca Raton-based developer recently announced the Mayla Residences brand for its apartments. This comes as the company, which has also done office and retail projects, has become more active in the multifamily market.

For the first project under that brand, PNC Bank provided the mortgage to Grover Corlew affiliate G&C Pompano Station LLC for the 2.85-acre site at 2335 and 2401E. Atlantic Blvd.

Mayla Pompano will have two buildings with a combined 355 units, ranging from 448 square feet with one bedroom to 1,383 square feet with three bedrooms. It will include 53 units of workforce housing. Amenities will include a two-story clubroom, coworking space, a lounge, a fitness center, a yoga room, two pools, summer kitchens, and a dog spa.

There will also be about 60,000 square feet of retail space on the ground floor.

“Due to the lack of signature projects of this size in the immediate area, the spin-off 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,” said Nguyen Tran, head of the Pompano Beach Community Redevelopment Agency.

Grover Corlew expects to break ground on Mayla Pompano in February. West Palm Beach-based Verdex Construction is the general contractor and Miami-based MSA Architects designed the project.

Grover Corlew owns the two office buildings behind this project. This is part of a trend of underutilized parking lots around South Florida office buildings being developed as multifamily to meet the needs of the growing population.

“Ground-up multifamily development is a next logical step for us as we begin to reimagine underutilized properties and land in our current portfolio,” Grover Corlew Partner Mark Corlew said. “We’re excited to bring high-quality living to cities like Pompano Beach that are attracting new businesses on a daily basis.”

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