From left: Alta Developers’ Raimundo Onetto, Bizzi & Partners’ Davide Bizzi, and Silverback Development’s Josh Schuster with 100 Southwest Sixth Avenue (Alta, Silverback, Getty, Dorsky + Yue Intercontinental)
Raimundo Onetto’s Alta Developers acquired a downtown Fort Lauderdale enhancement web site, getting around design of a extensive-planned — but under no circumstances created — 35-story apartment tower.
Alta obtained the 1-acre vacant house at 100 Southwest Sixth Street for $20.8 million, documents clearly show. The land is on the southeast corner of Southwest Flagler Avenue and Southwest Sixth Avenue, as well as just east of the Florida East Coastline Railway educate tracks and about three blocks south of the New River.
An entity tied to Bizzi & Companions bought the assets. Bizzi, together with Josh Schuster’s Silverback Advancement, experienced compensated $12 million for the assemblage consisting of six adjacent tons in 2017. The duo planned the New River Central tower with 401 apartments and retail.
Alta now options a equivalent undertaking that also will rise 35 stories, but with 400 units, ranging in dimension from studios to 3-bed room flats, and ground-ground retail, in accordance to a enterprise news release.
Design is anticipated to start out up coming year, and completion is slated for 2025, in accordance to Alta.
The multifamily undertaking marks Alta’s second in Fort Lauderdale. It designed the massive EON Squared apartment elaborate consisting of the North Towers and South Towers, each individual with a pair of 12-story properties, involving Northeast Seventh and Sixth streets and east of Northeast Fifth Avenue.
In December, Alta marketed the 476-unit EON to the real estate division of Germany’s Union Expenditure for $226.5 million.
Also in Broward County, Alta is building a pair of 18-tale condominium towers with a mixed 466 units at 401 North Federal Highway in Hollywood, in accordance to the company’s web page.
Apart from condominium towers, the Miami-dependent company develops high-increase condominiums, single-relatives residences and townhouses, its web-site says. Onetto is CEO.
Downtown Fort Lauderdale is quickly redeveloping with household towers, promising to transform the area’s skyline.
More than 40 tasks with 16,000 condominium and condominium models had been in the pipeline as of this summer.
More a short while ago, Trustworthy Equities submitted options for a 47-story rental tower with 830 units at 633 Southeast Third Avenue.
In the city’s expanding Flagler Village district, developers Steven Hudson and Charles Ladd Jr. scored metropolis fee approval in August for the 30-tale, 320-device Flagler Residences South condominium tower at 513-517 Northeast Sixth Road. The duo strategies a 2nd, adjacent condominium tower.
