El-Ad Renames $1B Davie Project as Phase One Tops Out

El-Ad National Properties has renamed The District in Davie, its $1 billion mixed-use development in Broward County, The Plaza Davie District as the project’s first residential tower structurally topped out. The rebrand comes as the Boca Raton-based developer pushes forward on a 2.8-million-square-foot buildout at 4820 Park Way in Davie, a site the developer markets as the gateway into town off Interstate 595.

Why it matters

A name change means little on its own, but the timing signals where the project actually stands. Phase One, a 22-story, 288-unit tower designed by Cooper Carry, has reached structural completion, putting the first delivery within reach for early 2027. That makes The Plaza Davie District one of the larger multifamily developments now moving through vertical construction in South Florida, a market where financing for new towers has tightened even as El-Ad keeps building toward a three-phase, five-tower buildout.

The numbers

At full buildout, the project is planned to deliver roughly 1,292 rental residences across five towers, along with 36,000 square feet of restaurant and retail space and 1.1 million square feet of access-controlled parking holding 2,650 vehicles. El-Ad has priced the full development at $1 billion, which works out to roughly $774,000 per planned unit across the 2.8 million square feet of construction, a per-unit figure the developer has not broken out publicly. Phase One’s 288 units remain the only ones with a firm delivery window.

What’s next

The remaining four towers have no announced start dates or individual unit counts beyond the project-wide total, so the pace of Phases Two and Three is the real test of whether El-Ad delivers the $1 billion buildout it is now marketing under a new name. Completion of Phase One in early 2027 will be the first hard data point on leasing demand in a submarket that has drawn comparatively little new multifamily supply.