About 100,000 square feet of indoor and outdoor amenities will include two indoor pickleball courts, a cafe and juice bar, a gaming lounge and club room, a golf simulator, a music and rehearsal lounge, a pet spa and a 4,700-square-foot fitness center. The building will also have 11,000 square feet of retail as well as Broward County\u2019s first Equinox<\/a>, a 35,000-square-foot luxury fitness club.\u00a0<\/p>\n Ombelle is slated for completion by the end of 2028. Earlier this year, the developer secured<\/a> $50 million in pre-construction financing for the project. The developer\u2019s total investment will be roughly $800 million at sellout, Schlesinger said.\u00a0<\/p>\n Flagler Village has \u201cits own kind of creative identity\u201d that offers a \u201ccompelling middle ground\u201d between Miami\u2019s global energy and Palm Beach\u2019s exclusivity, he said. That, plus a gap he sees in high-quality ownership, made Flagler Village an attractive development opportunity.\u00a0<\/p>\n Ombelle has attracted seasonal residents, people relocating from the northeast and Latin buyers, many of whom have traditionally put their dollars in Miami but have since come to prefer Fort Lauderdale\u2019s lifestyle, Schlesinger said.\u00a0<\/p>\n \u201cFort Lauderdale isn\u2019t trying to copy Miami or Palm Beach. That\u2019s what people like when they come to Flagler Village,\u201d he said. \u201cIncreasingly, buyers see Fort Lauderdale as a destination on its own, not a compromise between Miami and Palm Beach.\u201d<\/p>\n Schlesinger said Dependable Equities is committed to the area, where the developer is working on additional developments. Information on those projects is to come in the next few months, he said.\u00a0<\/p>\n 501 North Andrews Avenue | FAT Village | Hines in partnership with Urban Street Development<\/p>\n FAT Village is a $500 million mixed-use development anchored by a 180,000-square-foot mass timber office building<\/a>. The 5.6-acre project will revitalize the existing art district with 600 residential units and nearly 80,000 square feet of dining, retail and entertainment space.\u00a0<\/p>\n The office building, T3 FAT Village secured<\/a> its first tenants \u2014 GXO Logistics and CBI Workplace Solutions \u2014 earlier this month. They are slated to move into the building early next year.\u00a0<\/p>\n Alan Hooper, co-founder of Urban Street Development, said he\u2019s been developing in Flagler Village for over two decades. What once was a quiet place is now a sprawling downtown that\u2019s gaining a lot of attention, he said.<\/p>\n \u201cFort Lauderdale is very attractive to the type of person that wants to live in an environment that\u2019s a little bit more approachable, a little bit more boutique and a little bit more accessible,\u201d he said.\u00a0<\/p>\n High interest rates and a development lull has thinned competition, allowing FAT Village to open at \u201cone of the best times,\u201d Hooper said. FAT, which stands for food, art and technology, will serve as a \u201clittle main street\u201d in Flagler Village, providing a central gathering place that the neighborhood has been missing, Hooper said.\u00a0<\/p>\n \u201cWhen we look back, I think we\u2019re going to pat ourselves on the shoulder and say we\u2019ve done good. We did a great project that gave back to the community,\u201d he said.\u00a0<\/p>\n 505 Northeast 2nd Street | Viceroy Residences Fort Lauderdale | Naftali Group<\/p>\n Viceroy Residences<\/a> Fort Lauderdale is Naftali Group\u2019s second-largest project in South Florida. Sales have launched for the 45-story, 251-unit Viceroy-branded tower, which includes one-bedroom residences to penthouses priced over $10 million, according to Danielle Naftali, executive vice president of marketing, sales and design at Naftali Group<\/a>.\u00a0<\/p>\n The project has 30,000 square feet of amenities, including two pool decks, a rooftop lounge, wine rooms, karaoke and theater space, fitness and wellness centers and coworking areas. The project is expected to wrap in about four years.\u00a0<\/p>\n The development has attracted large shares of Northeasterners, Canadians and Latin Americans, Naftali said, including Brazilian soccer legend Roberto Carlos<\/a>, who purchased two residences. Naftali said Flagler Village has \u201ccompletely evolved,\u201d providing the developer with an opportunity to address what Naftali called a gap in the market.\u00a0<\/p>\n \u201cWe\u2019re bringing something to the neighborhood that was missing,\u201d she said. \u201cThere was a real gap between what was on the waterfront versus just in the surrounding area.\u201d\u00a0<\/p>\n While Fort Lauderdale\u2019s prime waterfront real estate commands record-breaking prices, its nonwaterfront neighborhoods typically lag behind, offering lower entry points and fewer luxury amenities. But inland development has surged in the city, as larger projects seek more space and cater to downtown population growth.\u00a0<\/p>\n 333 Northeast 6th Street | Astor Park Flagler Village | Midtown Capital Partners<\/p>\n Astor Park Flagler Village is nearing completion after Miami-based Midtown Capital Partners<\/a> landed<\/a> an $84 million construction loan earlier this year. The loan, provided by BridgeInvest, refinanced the project\u2019s existing construction financing<\/a> and is funding the remaining completion costs. Berkadia arranged the financing.\u00a0<\/p>\n Situated on a 1.4-acre site at the northeast corner of Sistrunk Boulevard and Northeast 3rd Avenue, Astor Park will include two towers rising 12 stories from the same podium.\u00a0<\/p>\n The 333,000-square-foot development will include 252 market-rate residential units ranging from 600-square-foot studios to 1,700-square-foot penthouses. Four live-work units and 2,400 square feet of commercial space will occupy the ground floor.\u00a0<\/p>\n Amenities will include a pool, fitness center, bar and resident lounge, dog park, coworking spaces and 318 parking spaces. The project, designed by Baker Barrios Architects, is slated for completion this year.\u00a0<\/p>\n 626 Northeast 1st Avenue | Urbania Flagler 1st Ave | Continua Developments and SP Developments<\/p>\n Continua Developments and SP Developments have teamed up on Urbania Flagler 1st Ave, an 11-story development with 110 rental units. Last year, the joint venture scored a $27.1 million construction loan from Goldman Sachs Bank USA soon after starting construction.\u00a0<\/p>\n At completion, the development will have eight studios, 60 one-bedroom units and 42 two-bedroom apartments spread across eight floors. Three floors will contain 137 parking spaces.\u00a0<\/p>\n Urbania Flagler 1st Ave will have 3,900 square feet of ground-floor commercial space, a media room, social areas and a lounge, summer kitchens, a gym and a 10,600-square-foot pool deck.\u00a0<\/p>\n Continua and SP bought<\/a> the vacant property for $5.3 million in 2022, according to Florida Yimby. Completion is expected in the first quarter of next year.<\/p>\n Earlier this year, the developers secured<\/a> $57.8 million in financing for a similar project in North Miami. That 12-story project, which started construction in December, includes 240 apartments and 20,000 square feet of ground-floor retail space.<\/p>\n 745 North Andrews Avenue | Flats Flagler Gateway | CEDARst Companies<\/p>\n CEDARst Companies<\/a> started construction on Flats Flagler Gateway earlier this year. The 12-story development will have 215 residential units and 33,000 square feet of indoor and outdoor amenity space within a 350,000-square-foot building.\u00a0<\/p>\n The developer closed<\/a> on a $68.5 million construction loan for the project in April. North River Partners and Amzak Capital Management provided the loan, which was structured as part of a $100 million capitalization, according to Connect CRE.\u00a0<\/p>\n Completion is slated for mid-2028.\u00a0<\/p>\n CEDARst is a multifamily developer with a portfolio spanning eight states. Its developments are concentrated in the West Coast, upper Mid-West and South Florida, with Chicago, San Diego, Las Vegas and Miami listed as notable submarkets on its website.\u00a0<\/p>\n \tRead more \t\t\t\t\t\t\t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t\tDevelopment\t\t\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n Hines, Urban Street snag $220M construction loan for Fort Lauderdale mixed-use project<\/p>\n
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