Miami-based real estate investment and development company Integra Investments announced today the completion of Wrecker’s Cay Apartments, the largest workforce housing community in the Florida Keys in over 50 years. Situated in Stock Island and spanning nine acres, the privately funded, 280-unit development is a critical step to providing much-needed housing to Florida Keys’ workforce population.
Integra Investments hosted an official grand opening event and ribbon-cutting ceremony at Wrecker’s Cay, located at 6125 2nd Street, on April 14. Held in the community’s waterfront clubhouse, joining the celebration were more than 50 guests, including supporters, neighbors, civic leaders, and city officials. Wrecker’s Cay Apartments has garnered positive local support for its significant impact, which aids in combatting the market’s shortage of attainable housing for the area’s low to moderate-income workforce. This is especially critical as housing prices have soared and infrastructure was impacted from previous hurricanes, forcing population migration.
Wrecker’s Cay Apartments will promote greater workforce stability in the marketplace to serve the bustling local economy of Key West. A proven success, the project has already achieved stabilization, with 100% of the units leased.
Designed by PQH Group, the development features a variety of floorplans to suit all needs, including one-, two,- and three-bedroom apartments; of those, 70 are designated low-income units, 98 median-income units, and 112 moderate-income units. Wrecker’s Cay Apartments is equipped with a host of amenities, including a children’s playground, a fully-equipped and state-of-the-art fitness center, a clubroom with a catering kitchen, an expansive pavilion with an outdoor kitchen, and a resort-style pool overlooking the water.
“We are thrilled to announce the opening of Wrecker’s Cay Apartments, an important project that builds a stronger footprint for workforce housing in the Florida Keys,” said Integra Investments principal Victor Ballestas. “We are proud to have worked alongside county leaders and thank them for their mutual commitment to delivering Wrecker’s Cay to the community. This development is a testament to Integra’s commitment to Key West and to providing high-quality and affordable housing options for Florida’s workforce.”
A commonality among Integra Investments’ workforce and affordable housing projects throughout South Florida is connectivity as a cornerstone. Proximity to critical transportation and everyday conveniences are key tenets to serving individuals and families who seek and/or require these residential offerings. Situated near the entrance of Stock Island, Wrecker’s Cay Apartments affords walkability to retail and restaurants, swift access to Key West’s core, multiple transportation hubs for local workers, and the main thoroughfare of Overseas Highway.
Integra Investments, through its subsidiary Integra Marinas — a vertically integrated owner, developer, and operator of premier marinas — recently expanded its Key West holdings with the acquisition of The Perry Marina, the largest deepwater marina in the Keys. The Perry Marina purchase and Wrecker’s Cay Apartments further the firm’s portfolio of significant projects in the region. As a prominent player in commercial and residential real estate throughout Florida, Integra Investments is also behind diverse ventures, including the innovative Aventura ParkSquare mixed-use development in Aventura, Florida; affordable senior housing buildings Mosaico and Steve Protulis Towers; and the St. Regis Residences Miami.
