ApexOne Investment Partners (Fund V) has entered into a joint venture agreement with Woodfield Development to construct 362 apartment homes. The development will be a 41-story high-rise in Fort Lauderdale City Center in downtown Fort Lauderdale. The infill location is between I-95 and the Atlantic Ocean on one of the region's busiest east-west thoroughfares. Upon completion, residents will have direct access to 50,000 SF of adjacent retail space in the heart of the Arts & Science District and adjacent to historic Himmarshee Village, offering the ultimate in a Live-Work-Play lifestyle. Additionally, the site provides unparalleled dining and entertainment amenities and walkable access to over 9.2M SF of CBD core office space.
Demographics in the immediate area surrounding the property indicate over 25% of the residents within one mile earn over $150K/year, and more than 50% hold a bachelor's degree or better. Fort Lauderdale has a long history as an employment hub. In 2022 alone, Citadel and Citadel Securities, FundKite, Belong, KruseCom, SH Hotels and Resorts, El Al Israel Airlines, AerCap, West Marine, Windstar Cruises, and Blockchain.com have all relocated to the area.
520 Broward will offer a variety of studio, one, two, and three-bedroom floor plans with a state-of-the-art luxury amenity package. Upon completion, ApexOne will hold the property for cash flow and long-term appreciation.