$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.

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