Kadima Develops 278-Unit Project on Former Dog Track
Alejandro Chaberman's Kadima Developers partners with Persea Ventures for Greenzone, an eight-story residential development featuring 278 units and 18,000 square feet of retail space. The project sits on a 3.1-acre site that was part of the former Big Easy Casino parking lot.
Kadima Developers has unveiled plans for a substantial residential project on land formerly associated with Hallandale Beach's defunct greyhound racing operations. The development, named Greenzone, will feature two eight-story buildings containing 278 residential units and nearly 18,000 square feet of retail space at 501 Northeast 7th Street.
Alejandro Chaberman's Kadima Developers is partnering with Mateo Pugliese-Bassi's Persea Ventures on the project, with SKLARchitecture handling the design work. The transaction involved multiple land transfers, beginning when billionaire Jeffrey Soffer sold a 12-acre portion of the former Greyhound racing site to Kadima in December for $31.1 million, equivalent to $2.4 million per acre.
Kadima immediately transferred the 3.1-acre project site designated for Greenzone to Persea Ventures for $12 million, representing nearly $3.9 million per acre. Despite the sale, Kadima will continue as project manager for the development.
The residential configuration emphasizes compact living spaces to serve a broad market segment. The unit mix includes 54 efficiency apartments averaging 500 square feet, 168 one-bedroom units at 740 square feet, and 56 two-bedroom layouts spanning 1,050 square feet. This approach reflects current demand for affordable housing options in South Florida's competitive rental market.
Greenzone will incorporate several amenities designed to enhance resident experience. Plans call for a rooftop deck positioned above a 391-space parking structure, along with a swimming pool, spa facilities, clubhouse, and two pickleball courts. These features align with contemporary expectations for multifamily developments in the region.
The site's history traces back to Soffer's 2018 acquisition of the 28-acre former Big Easy Casino property, also known as the Mardi Gras Casino and Racetrack, located at 831 Federal Highway. That transaction totaled $12.5 million and was supported by a $19.5 million mortgage from Florida Community Bank.
Hallandale Beach continues attracting significant residential investment. The 13th Floor received approval in 2024 for Parks at Hallandale, a 398-unit multifamily project adjacent to the former casino site at 106 Pembroke Road. Meanwhile, developer Giuseppe Iadisernia's Oasis Hallandale represents one of the area's largest recent residential projects, featuring a 25-story condominium with 250 units priced between $750,000 and $5 million as part of a 10-acre mixed-use development at 1000 East Hallandale Beach Boulevard.
The Greenzone project demonstrates continued confidence in Hallandale Beach's residential market, particularly for developments offering diverse unit sizes and comprehensive amenities. The transformation of former gaming and racing properties into residential communities reflects broader trends in South Florida real estate development.
