• 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

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're giving away 3 free ICLV tickets at Connect Now next week. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription