CEDARst Companies, a vertically integrated real estate firm and a leader in U.S. multifamily development, is advancing its latest South Florida project with the closing of a $68.5 million construction loan for a new mixed-use development in Fort Lauderdale’s Flagler Village neighborhood. The project is expected to break ground in May 2026.
Located at 745 N Andrews Avenue, the 12-story luxury residential development will deliver 215 rental units alongside 5,419 square feet of ground-floor retail. The project marks CEDARst’s second development in Florida, following The Douglas in Miami, which is targeting completion in mid-2027 and will deliver 191 design-forward residences.
“Flagler Village is exactly the type of opportunity we look for—strong fundamentals, a neighborhood with real momentum, and the ability to deliver a differentiated product,” said Will Murphy, CEO and Managing Partner of CEDARst Companies. “Our focus is on execution and long-term performance, and we believe this project is well positioned on both fronts.”
The project will feature a mix of studio, one-, two-, and three-bedroom residences, supported by 283 parking spaces and a robust amenity program designed to meet the needs of modern renters. Planned amenities include coworking spaces, a fitness center, resident lounge, golf simulator, pool deck, and spa.
Designed by Dorsky + Yue and constructed by Hogan Brothers, the development reflects CEDARst’s continued focus on delivering high-quality housing in emerging urban neighborhoods.
Construction financing was provided by North River Partners in partnership with Amzak Capital Management, representing CEDARst’s second transaction with North River Partners. The site is located within a designated Qualified Opportunity Zone.
CEDARst acquired the property in June of 2022, positioning the firm well in Flagler Village’s rapid growth trajectory. The neighborhood has quickly transformed into one of Fort Lauderdale’s most dynamic urban districts—known for its mix of modern residential towers, creative spaces, and a growing collection of restaurants, breweries, and cultural destinations. Its proximity to downtown and strong live-work-play appeal have made it a magnet for young professionals and continued investment.
CEDARst’s entry into Fort Lauderdale underscores its continued focus on scaling in high-growth, supply-constrained urban markets—delivering timeless architecture and purpose-driven design that meets today’s demand for high-quality housing. The project also represents a significant milestone in the firm’s national momentum, adding to a portfolio spanning eight states and totaling more than $4 billion in asset value and 10,000 units in various stages of development.
CEDARst Companies is a nationally recognized multifamily real estate developer with offices and active projects across the United States. The firm’s portfolio spans eight states, concentrated in the West Coast, Upper Midwest, and South Florida. To date, CEDARst has developed more than 10,000 residential units, representing over $4 billion in total asset value.
About North River Partners: North River Partners is a privately held real estate credit platform focused on originating and managing construction loans across the United States. The firm provides flexible, relationship-driven capital solutions to experienced sponsors, with a focus on multifamily and workforce housing developments in high-growth markets.
Founded by experienced real estate credit professionals, North River Partners combines institutional underwriting discipline with an entrepreneurial approach to structuring transactions. The firm is focused on delivering certainty of execution in complex construction and transitional lending situations, partnering closely with borrowers and intermediaries to source, structure and close deals efficiently.
With a growing national footprint North River Partners works alongside developers, brokers and capital partners to navigate an evolving lending landscape where traditional financing sources have become more constrained. The firm’s platform is built on speed, transparency and long-term relationships, with a disciplined approach to risk management and asset performance.
