Fort Lauderdale city commissioners voted unanimously Tuesday to approve an amended site plan for a long-planned twin-tower residential project on North Federal Highway, clearing the way for developer Merrimac Ventures to move forward with one of downtown’s largest pending developments. The vote caps roughly five years of planning for the project, known as 317 N Federal, which first emerged in 2021 as a pair of towers with more than 700 apartments near the heart of the city.
According to The Real Deal, the project is led by Merrimac Ventures principals Dev Motwani and Nitin Motwani, who paid $14 million in 2020 for the 317 North Federal Highway and 515 Northeast Third Street parcels. The 1.8-acre development site has a layered history: Joel and Camille Fox had owned the land since at least 1982, and the property once held a two-story retail building occupied by Sherwin-Williams along with a Greyhound bus stop that will have to be relocated or replaced for the project to proceed, according to Florida YIMBY.
How the Plan Has Changed Since 2021
Merrimac first proposed the project in 2021, and Fort Lauderdale’s Development Review Committee approved that original site plan in July of that year. At the time, the two towers were specified at 42 and 45 stories, according to a report from the Sun Sentinel, which described the west tower rising 453.16 feet with 390 units and 561 parking spaces, and a second tower reaching 495.67 feet with 326 units and 522 parking spaces. Combined, the 2021 proposal called for 716 residential units, 8,700 square feet of commercial space and 1,083 parking spaces, the Sun Sentinel reported, with fitness centers, media and social rooms, and coworking space included in the design.
The Real Deal’s account of this week’s approval describes a significantly reshaped plan under the 317 N Federal name, now encompassing two towers with 773 residential units and 7,820 square feet of commercial use. A low-confidence snippet from that outlet indicates the amended plan reduces the west tower from 42 stories to 37, with the tower’s unit count changing to 423, down from 425; the same account says the plan also increases the west tower’s floorplate from 12,500 to 14,160 square feet on floors 10 through 37 and reduces tower separation to accommodate 5-foot balconies. Those current-plan specifics have not been independently verified beyond that reporting. Separately, project materials from Square Edge Inc. describe a different configuration altogether — a 40-story west tower with 401 units and a 45-story east tower with 350 units — a figure that conflicts with both the 2021 Sun Sentinel numbers and The Real Deal’s current-plan account.
A Development Wave Across Downtown
The approval lands amid a broader building surge in Fort Lauderdale. Commissioners approved a separate 30-story apartment tower at 500 Northeast Third Avenue in Flagler Village last month, per the Sun Sentinel, with that Flagler Village Residences project adding 350 units, standing 321 feet 8 inches tall, and including 484 parking spaces and 3,552 square feet of retail space. The city estimates that tower alone will generate 1,508 new car trips, and real estate vacancies in Flagler Village currently sit at a low 5%, the outlet reported.
Merrimac Ventures has other projects in its pipeline, including 600 Miami Worldcenter, Waldorf Astoria Residences Pompano Beach, and the Riverside Wharf/Dream Miami Hotel development. Elsewhere downtown, Related Group’s 46-story Andare Residences on Las Olas is already more than 50% sold, and Ombelle’s two 44-story condo towers in Flagler Village will include the city’s first Equinox gym, according to Axios. Nearby, Pompano Beach is in the midst of a $2 billion redevelopment of its 75-acre downtown, the outlet reported.
Prices Climb as New Residents Arrive
The building boom is unfolding alongside a sharp rise in housing costs. Fort Lauderdale home prices climbed 14% from September 2025 to September 2026, Axios reported, citing Redfin data. The median home sale price in the city was $605,000 over the three months ending in September, up 14.1% year over year, according to Redfin — though Redfin also characterized the local housing market as not very competitive overall, with homes averaging two offers and multiple-offer situations remaining rare.
Fort Lauderdale’s under-45 population has grown 25% since 2020, Axios reported, and the city has drawn an influx of luxury condominium projects along with one of the region’s largest new corporate tenants, according to Bloomberg. Much of that activity is being planned and financed by New York developers, Bloomberg reported, with New York firms accounting for 4.6 million square feet, or 45%, of downtown Fort Lauderdale development, per Axios. Other projects advancing locally include a 30-story multifamily development from 13th Floor Investments approved last month and a 249-unit project called Astor Progresso Village advanced by Midtown Capital Partners around the same time.
Known for its canals and boating culture — a reputation that has earned it the nickname the Venice of America — Fort Lauderdale continues to attract buyers seeking a relaxed lifestyle and a lower cost of living than Miami and Palm Beach. With 317 N Federal now cleared through the commission, Merrimac Ventures’ twin towers become the latest entry in a downtown skyline that is reshaping fast.