Diversified Real Estate Capital, in a joint venture with Hines, the international real estate firm, will break ground on a 550-unit, $134 million luxury apartment development at 8800 Doral Boulevard in Doral this March. Construction is expected to be completed in 22 months.

The new development will include one building with 300-units that feature balconies and same-floor, direct-access parking. Residents of the 300-unit building will have access to state-of-the-art amenities including a 7,500 sq. ft. fitness center, a spectacular pool area and common entertainment facilities. The remaining 250 units are situated in two garden-style developments designed for families and young professionals.

The 12-acre site is located at the intersection of 87th & Doral Blvd., directly across the street from the prestigious Trump International Doral golf resort, and approximately 10 miles west of downtown Miami in the highly acclaimed Doral school district.

“Doral is a terrific and growing community and we are pleased to add a fantastic, high-quality housing development to the area,” said Jeffrey Cherner, founder and executive vice president of Diversified Real Estate Capital.

Award-winning architectural firm Arquitectonica provided design for the 8800 Doral Blvd. project.

This is Diversified Real Estate Capital’s second project in the South-Florida region. The recently completed 276-unit AVIVA at Gables development in Coral Gables, Florida was also a joint venture between Diversified Real Estate Capital and Hines.

“South Florida is a dynamic and rapidly growing market that offers great opportunities for real estate investment,” said Michael Miller, founder and executive vice president of Diversified Real Estate Capital. “We are pleased to be able to make significant investments in this market and hope there will be additional opportunities for us to invest here in the future.”