Mill Creek Residential Expands Cornerstone Development With $13M Acquisition Of 2.91-Acre Site In Coral Springs

Mill Creek Residential has acquired a 2.91-acre development site in Coral Springs for $13 million. The property, located at 3310 University Drive, will be utilized for the expansion of the Cornerstone mixed-use development. The plans include the construction of an eight-story apartment complex with 361 units, as well as retail space and various amenities.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $13,000,000
• Address: 3310 University Drive
• Market: Coral Springs
• Buyer: Mill Creek Residential - William C. MacDonald
• Seller: Predesco - Rod Sheldon; Arctrust Investment Manager

The buyer, Mill Creek Residential, represented by William C. MacDonald, aims to expand the Cornerstone mixed-use development with the addition of the new apartment complex. The eight-story building will offer 361 units to meet the growing demand for housing in Coral Springs. In addition to the residential units, the development will also feature retail space and a range of amenities, enhancing the overall appeal of the community.