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Dania Beach could approve incentives, project led by Dev Motwani

Dania Beach could approve incentives, project led by Dev Motwani 

 

 A mixed-used project by Merrimac Ventures and the Estate Cos. could receive final approval for development and an incentive deal by Dania Beach.

 

On May 12, the City Commission will consider the amended site plan for the Trion project, while its Community Redevelopment Agency (CRA) could finalize the $1 million incentive agreement. The project would be on the 2.2-acre site at the northeast corner of Federal Highway and Dania Beach Boulevard.

 

The property was acquired for $5 million in 2017 by 4 N Federal Dania LLC, managed by Dev Motwani, president and CEO of Fort Lauderdale-based Merrimac Ventures. Motwani said he recently partnered with Miami-based the Estate Cos., led by Managing Principal Robert Suris, for the project. The Estate Cos. has built many Class A apartment buildings under the Soleste name.

 

“(Suris) does a great job targeting markets that are up and coming and that don’t have a lot of Class A product already,” Motwani said. “He self performs on construction and that allows us to provide a better finish quality and a better price point.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After partnering with the Estate Cos., Merrimac Ventures filed a new site plan. The number of apartments was increased from 300 to 340. The 8-story building would also have 13,000 square feet of ground-floor retail, 543 parking spaces, and a pool deck on the interior of the buildings. Other amenities would include a fitness center, outdoor grilling stations, a clubroom, and a party hosting room.

 

Units in Trion would range from 500 to 1,150 square feet. It was designed by Caymres Martin.

 

Motwani said he will partner with Miami-based commercial real estate firm Tricera Capital on the retail space. He expects the many nearby hotels will generate customer traffic to the shops there.

 

The CRA would award $1 million in incentives to the developer for the public elements of the project, including a pocket park with outdoor fitness equipment, a fountain, and wide sidewalks.

 

Motwani said he’d like to break ground on the project in the fall.

 

Dania Beach is one of South Florida’s most underdeveloped coastal cities. With government officials encouraging more projects, and even considering the sale of City Hall to a developer, that could soon change.

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