Lee & Associates South Florida Principal Matthew Jacocks was instrumental in brokering the sale of a Lauderhill apartment development site, which will feature the 441 Arthouse project. Jacocks represented both sides in the $7 million transaction and will partner with veteran developer Yury Gnesin to construct 245 apartments and 10,000 square feet of commercial space for the 4.7-acre assemblage that fronts State Road 7.
Jacocks and Hallandale-based Gnesin recently received approval for the project from the City of Lauderhill commissioners, who approved a special exception application to allow for residential units’ development on the property. The project will feature at least four two-story units allocated as living and working spaces for local artists. Currently, the project is in site plan review phase. Lee & Associates South Florida’s retail specialists will start pre-leasing the ground-floor retail space following site plan approval and plans to attract high-quality tenants to enhance the project and area further.
Construction of 441 Arthouse is expected to begin in the first quarter of 2024, with a 12 to 14- month timetable for completion. The project’s mix of studios and one, two and three-bedroom apartments will range from approximately 700 to 1,300 square feet. Amenities include a swimming pool, fitness center, dog park and barbecue areas.
“Lauderhill is seeing a significant amount of investment and development activity,” Jacocks says. “The city’s centralized location is appealing to people seeking a more attainable alternative to downtown
Fort Lauderdale and other more expensive multifamily submarkets. We anticipate strong demand for 441 Arthouse and are excited to deliver a one-of-a-kind project to the city. The city has been fantastic to work with and has a great vision that we are excited and honored to be a part of.”
