Mill Creek Residential broke ground on its second phase of the Cornerstone mixed-use project in Coral Springs after receiving an $82.3 million construction loan.
Fifth Third Bank provided the mortgage to MCREF MFR 1 Coral Springs II LLC, an affiliate of Boca Raton-based Mill Creek Residential. It covers the 2.91-acre site at 3310 University Drive. The developer filed notice with the county that it started work on the project, which it will build with its in-house general contractor. The second phase of Modera Coral Springs will feature 353 apartments, 32,280 square feet of retail and restaurant space and 721 parking spaces. The apartment complex would feature a clubhouse, a pool, a gym and a sky terrace on the top floor. The developer purchased the land for $13 million in July.
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