$125m rental tower planned in Ft. Lauderdale following land sale

$125m rental tower planned in Ft. Lauderdale following land sale

Published at: 2018-01-10 15:40 | Author: CIJ USA
A six-parcel site at 100 Southwest Sixth Street in downtown Fort Lauderdale, has been sold for $12 million to a joint venture of Silverback Development and Bizzi & Partners Development. The duo plans to build a $125 million 35-story mixed-use rental tower on the site. The assemblage is located at the southeast corner of Southwest Sixth Street and Southwest Flagler Avenue, near the Broward County Central Courthouse. The project, New River Central, will encompass 401 apartments, 5,500 square feet of retail space, 20,000 square feet of amenities and a nine-story parking garage with 477 spaces. The seller, New River Central LLC, managed by developer Kevin J. Reilly, bought the 1 acre site in 2016 for a combined $7.15 million. The partnership expects to break ground on the development in the fourth quarter of 2018.

Similar Stories:

NYC mayor vows to grow city's affordable housing stock
The City of New York has set a city record for preserving more than 24,500 affordable hous  »
MidCap backs ESG Kullen's condo acquisition in Delray Beach, FL
ESG Kullen has landed a $8.4 million bridge loan for the acquisition of 93 units in Murano  »
New Colliers hire to focus on South Florida's multifamily market
Colliers International South Florida has hired Mitash Kripalani. In his new role as vice p  »
Chartwell acquires historic Boston apartments complex
Chartwell Holdings has acquired the Baker Chocolate Factory Apartments in the Dorchester L  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »
China’s insurance sector has emerged relatively unscathed  »
New home prices in larger cities like Shenzhen might have de  »
New home prices in larger cities like Shenzhen might have de  »