SOUTH FLORIDA BUSINESS JOURNAL: Florida Crystals’ development arm buys site in new downtown district

South Florida Business Journal: Written by Brian Bandell. July 28, 2016.

FCI Residential, the apartment development arm of sugar producer Florida Crystals, paid $7.8 million for a site in Palmetto Bay’s new downtown district.

The Altantico at Palmetto Bay will be the first project under the rezoning plan the village approved in December that created a Downtown Urban Village district with more density and mixed-use projects. FCI Residential's project was approved in June for 271 apartments plus 7,010 square feet of retail.

FCI Palmetto Bay, an affiliate of Coral Gables-based FCI Residential, acquired the 4-acre site at 17945 Franjo Road (S.W. 97th Ave.) from Miami-based TotalBank. The bank previously moved its branch there to South Dixie Highway.

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