Filling Lakes to Build Apartments? Here's What's Happening in Broward

Published: February 17th, 2026 | Updated: May 14th, 2026

A $141 billion real estate investor is asking Davie to let it drain a community lake and replace it with 72 new apartments. It sounds extreme, but in a county with almost no vacant land left, this might be the new normal.

Key Takeaways

Nuveen, one of the world's largest real estate investors, is seeking approval to fill a lake at Cameron Cove in Davie and build two three-story apartment buildings with 72 units.
Broward County has less than 1% of its land still vacant and zoned for residential use, roughly 5 square miles out of 1,323 total.
Davie's Planning and Zoning Board reviewed the site plan on February 10, 2026. The project now goes to the Town Council for a first reading on March 4, 2026.

Sunpointe Cove LLC, an affiliate of New York-based Nuveen, filed the application to expand Cameron Cove, a 221-unit apartment complex on 21.4 acres near Nova Southeastern University. The property at 2451 to 2871 S.W. 79th Ave. in Davie, Florida, was built in 1986 and currently markets itself around five lakes, cascading water fountains, and lakefront views. If the expansion is approved, one of those lakes will become a construction site.

The Davie Planning and Zoning Board reviewed the proposal on February 10, 2026. Town staff found the application complete and suitable for further review. The project now advances to the Town Council for a first reading on March 4, 2026.

The proposal signals just how constrained Broward County's land supply has become. Hemmed in by the Atlantic Ocean on the east and the Everglades on the west, developers are now converting golf courses, shopping centers, and lakes to find room to build.

What is Nuveen proposing at Cameron Cove?

The plan involves filling an on-site lake, removing one of two community pools and patio areas, and constructing two three-story buildings with 72 two-bedroom units averaging 950 square feet each. The project also includes reconstructing the community clubhouse and adding new parking throughout the site. MSA Architects designed the expansion.

The existing complex has 220 one-bedroom units, and just one two-bedroom unit, so the new construction shifts the product mix toward families and roommates. That is a notable pivot. Davie averages about $2,600 per month for a two-bedroom apartment, and inventory is tight.

Attorney Janna Lhota of Holland & Knight, representing the developer, stated in the application: "While the proposed building massing differs slightly, the new construction maintains the same overall feel, finishes, and building height to ensure harmony across the development."

The developer's traffic study projects 461 new daily vehicle trips, which town officials determined would have a minimal impact on the transportation network.

Why would a developer fill a lake to build apartments?

Because there is almost no land left.

Broward County has less than 1% of its total land still vacant and zoned for residential use. That is roughly 5 square miles out of 1,323 total. According to a Sun Sentinel analysis of property appraiser data, developers are running out of options.

Brent Baker, Pulte Group Division President, put it directly: "Broward County is one of the most land-constrained markets in the country."

This is not a small operator testing the waters. Nuveen manages $141 billion in real estate globally and is the investment arm of TIAA. They have an active Broward County multifamily portfolio that includes past acquisitions at Oasis at Springtree in Sunrise (276 units, $43.7M), Waterview in Coconut Creek (192 units, $46.5M), and Landings at Coconut Creek (268 units).

When a company of that size decides to fill a lake to add 72 units, it tells you how tight the supply picture really is.

Is Broward running out of buildable land?

Yes, and it has been for years. Developers are converting existing uses at an accelerating pace:

The Galleria Mall in Fort Lauderdale is being reimagined as mixed-use.
Lennar's $68 million project in Coconut Creek replaces existing land uses with new housing.
Pompano Beach's $2 billion downtown makeover is transforming underused parcels into high-density development.
Golf courses across the county are being converted into residential communities.

Broward County Property Appraiser Marty Kiar explained: "Broward County is a sought-after place to live as people from all over the world are making it their home. Although impossible to say for certain, it is my belief that the lack of vacant land is a contributing factor in the increase in value for the existing homes and properties and likely will be for the foreseeable future."

Median rent for a two-bedroom apartment in Broward reached over $2,300 per month in early 2025, while median household income was under $70,000 annually. Over 50% of renters in Broward County are cost-burdened, spending more than 30% of their income on housing.

What does this mean for property values near Cameron Cove?

The impact cuts different ways depending on where you stand:

For existing Cameron Cove residents with lake views: Those views could be replaced by construction. When the selling point of a property changes, rental competitiveness and resale values shift. Lakefront units marketed around water features may lose that premium.
For homeowners nearby in Davie, Plantation, Sunrise, and Coconut Creek: Tight multifamily supply generally supports property values. Fewer apartments available means more renters competing for single-family homes. That dynamic keeps demand strong for existing inventory.
For renters: The addition of two-bedroom units addresses a gap. Davie averages about $2,072 for a one-bedroom and $2,592 for a two-bedroom. New inventory could offer more options, but do not expect lower prices in a supply-constrained market.

As Larry Mastropieri explained on the Discover South Florida Podcast, "This is a thing. There's high density there. Apartments are in demand. More apartments in South Florida will help bring down the overall cost of rentals and home purchases. We need this. We need supply. And so, hey, if this is the best idea they have, maybe it's worth considering. But if you're removing a lake, you'd better have good drainage systems in place and good infrastructure. And frankly, Broward County has struggled with that a little bit over the years."

Own property near this proposed development? Find out how it could affect your home's value. Talk to a real estate agent near Fort Lauderdale who understands how density changes impact surrounding neighborhoods. Reach out to The Mastropieri Group or call (954) 833-1468.

What other development is happening in Davie?

Cameron Cove is not the only multifamily project reshaping the town. Davie is seeing significant development activity as Broward's land crunch intensifies:

The District in Davie: A $1 billion, 2.8 million-square-foot mixed-use development by El-Ad National Properties. Five towers ranging from 20 to 24 stories will deliver 1,256 apartments. Phase 1 completion is expected in December 2026. Located at 4801-4999 S. State Road 7, near Seminole Hard Rock Hotel & Casino.
White Oak Development: A 286-unit project at 4181/4233 Davie Road, backed by a $67 million construction loan with Ares Management. Two four-story buildings.
Parks at Davie: A new housing development near Broward College offering 400 apartments.

South Florida saw the completion of a record 18,600 new apartment units in 2025, outpacing approximately 15,000 net new leases signed during the same period. Broward County is expected to see 12% population growth over the next 10 years, indicating the supply-demand imbalance is unlikely to resolve anytime soon.

What happens next?

The Davie Planning and Zoning Board reviewed the Cameron Cove site plan on February 10, 2026, and town staff recommended the project for further review. The next step is a Town Council first reading on March 4, 2026. If approved, the expansion would move forward with the lake fill and construction of the two new buildings.

The project also includes an affordable housing component. The applicant proposes to designate 11 of the 72 new units as "moderate-income" housing (households not exceeding 120% of the area median income) for 30 years. This allows the developer to use Broward County's bonus density policy without requiring a land use amendment.

For Broward County residents, this project is a preview of what is coming. When land runs out, developers get creative. Lakes become building sites. Malls become mixed-use towers. Golf courses become subdivisions.

Whether that is good or bad depends on where you stand. If you own property in Broward, constrained supply generally supports values. If you are looking to rent or buy, the competition is not easing up anytime soon.

Frequently Asked Questions about the Cameron Cove lake fill project

Who is the developer behind the Cameron Cove expansion?

Sunpointe Cove LLC, an affiliate of New York-based Nuveen, filed the application. Nuveen is one of the world's largest real estate investment managers with $141 billion in assets under management. The company is the investment arm of TIAA and has an active multifamily portfolio across Broward County.

How many new apartments will be built at Cameron Cove?

The proposal adds 72 two-bedroom units averaging 950 square feet each across two three-story buildings. The existing complex has 221 units (220 one-bedroom and 1 two-bedroom), so the expansion shifts the product mix significantly toward larger units for families and roommates. Eleven of the new units will be designated as moderate-income housing for 30 years.

Why is Broward County so land-constrained?

Broward County is hemmed in by the Atlantic Ocean on the east and the Everglades on the west, with limited annexation options. Less than 1% of the county's 1,323 square miles remains vacant and zoned for residential use. That scarcity is pushing developers to convert golf courses, shopping centers, and now lakes to find buildable land.

How will the Cameron Cove expansion affect nearby property values?

Existing lakefront units may lose their view premium. For homeowners nearby in Davie, Plantation, Sunrise, and Coconut Creek, tight multifamily supply generally supports property values because fewer apartments means more renters competing for single-family homes. For renters, the new two-bedroom units address a gap but are unlikely to lower prices in a supply-constrained market.

Where is Cameron Cove located?

Cameron Cove is located at 2451 to 2871 S.W. 79th Ave. in Davie, Florida. The 21.4-acre site sits on the west side of University Drive, near Nova Southeastern University and Davie Golf and Country Club.

Local help for buyers and investors in Broward County

If you are buying, selling, or investing in Fort Lauderdale, Davie, Plantation, or anywhere across Broward County, understanding how new developments affect inventory and pricing matters. Reach out to The Mastropieri Group, Realtors®.

For practical, hands-on support across Broward County, call (954) 833-1468.