• The CFH Group has acquired the Lake Vista apartments, formerly Ashlar.
  • One to three--bedroom units will rent in the range of $1,250 to $1,750.
  • Two new buildings will be added to the site, including an 11,000 square foot amenity center for residents.

As of June 1, developer and property management firm CFH Group acquired the Lake Vista Apartments in Miramar. The group has plans to renovate and update the existing 480 units.

“Multiple architects and engineers have been contracted to work on the site upgrades,” said Ivan Fuentes, director of operations at CFH Group Lake Vista Apartments. “A great deal of workers from the surrounding communities will be working on the project for the next year and a half.”

There are currently 13 buildings at Lake Vista, but CFH’s plans include adding two new buildings to the community. One of the new buildings will be an 11,000 square foot clubhouse, and the other building will be used for maintenance storage and site utilities. The clubhouse will feature a kitchenette, cyber lounge, fitness center, yoga studio and kids’ playroom.

The Ashlar

Two new outdoor pools, playgrounds, dog parks and an outdoor barbecue area will also be added. A half-mile walking path that will run the entire length of the property along the lake is currently being landscaped.

Sitting at 8440 Sherman Circle N., the development and its new amenities will also provide full-time jobs in the neighborhood.

The price tag of the renovations is estimated at $5,000,000, according to Fuentes. The one-bedroom apartments will rent for $1,250 to $1,350 per month. The two-bedroom options will cost around $1,450, and the three-bedroom units cost $1,750. The units are currently renting from $1,182 to $1,758.

Fuentes said that the expected completion date is by the end of 2017.

Email Britt Chester

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