Dependable Equities Plans Rental Development Designed by ODA in Fort Lauderdale – Trade Observer
Reliable Actions unveiled plans for a two-tower complex in downtown Fort Lauderdale.
luxury development, umbelwill feature 1,100 rental units with 27,837 square feet for indoor amenities such as a gym and work lounges, 75,000 square feet for an outdoor patio, and 11,217 square feet of retail space on the ground floor.
The project, designed by ODA Architecturewill span 1.5 million square feet in total, with each tower rising 43 stories.
“We seek to establish an upscale, condo-like experience for renters,” isaac schlesingerhead of Dependable Equities, said in a statement.
The Brooklyn-based developer filed for approval last Friday and plans to break new ground this year. He declined to say whether he had secured any financing to finance the construction.
The company paid $27 million late last year for the 1.9-acre site, located in 300 NE 3rd Avenue on the corner of Northeast 3rd Street, a few blocks from the city’s Brightline station.
The Dependable Equities project is another luxury rental development planned for Fort Lauderdale as white-collar workers flock to South Florida. Aimco and Kushner Enterprises have offers a 48-story structure, which could become the tallest in the city. Last month the Associated group caught $99 million to construct a 36-story building.
Julia Echikson can be contacted at [email protected].