Miami-based 13th Floor Homes is set to commence construction on an age-restricted rental villa community, thanks to a $14.1 million construction loan. The South Florida Business Journal has reported that Canadian Imperial Bank of Commerce (CIBC) has provided the mortgage for the project located at 14800 Cumberland Drive. Solera at Avalon Trails, as it will be known, is expected to break ground in late 2023 and start delivering homes by next year. This exclusive community will consist of 74 homes reserved for individuals aged 55 and over.
The development site spans across a total of 120 acres which was previously occupied by Palm Beach’s Villa Del Ray Golf Course in Delray Beach. As general contractor, the developer plans on overseeing all aspects of this project’s execution while ESA Architecture’s Ed Silva takes charge as designer for these exquisite villas. Residents can look forward to enjoying various amenities such as a pool, theater room, fitness center and sports facilities including tennis courts and pickleball courts.
This exciting new venture marks another milestone achievement for Miami-based company – one that promises exceptional living experiences tailored specifically towards senior citizens looking for luxury rentals within South Florida.
