An affiliate of Eastwind Development has broken ground on the 206-unit Ventura Pointe apartment complex in Pembroke Pines.
Florida Community Bank increased the construction loan to Ventura Pointe Housing, an affiliate of Palm Beach Gardens-based Eastwind Development, by $26.1 million to total $29.5 million. It had used the original $3.4 million mortgage to acquire the 9.8-acre site for $6.3 million in April.
The property is on the east side of University Drive on the south side of where Pasadena Boulevard ends. It’s between Memorial Hospital Pembroke and the Walnut Creek neighborhood.
Kaufman Lynn Construction filed notice with the county that it recently started building Ventura Pointe. The developer’s website said the project would cost $41.6 million.
Ventura Pointe will have two four-story buildings, two five-story buildings, five detached garage buildings, a 5,800-square-foot clubhouse and a pool.
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