Village at Deering Groves rental community (Credit: AHS Development Group)
An affiliate of Miami-based AHS Development Group just scored a $27.4 million construction loan for its Village at Deering Groves rental community in south Miami-Dade.
Records show the affiliate, Village at Tuscany LLC, scored the loan from Citibank. AHS bought the 9.3-acre plot of land on the southwest corner of Southwest 256th Street and Southwest 137th Avenue in 2014 for $2 million.
Village at Deering Groves, in the Naranja area of Miami-Dade, will be designed by Chisholm Architects. The 281-unit rental community will house one-, two- and three- bedroom apartments, and will feature 2,810 square feet of retail, records show.
AHS plans to open the apartment community by May 2018, according to its website.
Ernesto Lopes, the company’s president and CEO, did not immediately respond to a request for comment.
The firm, founded in 2012, has its own in-house development, construction and management divisions.
AHS is also building a 175-unit apartment building near the Jackson South Community Hospital. Other projects include its Village at Lake Osborne, a garden-style development in Lake Worth, and its Village at Crystal Lake, a planned 125-unit rental community in Deerfield.