Res­i­den­tial re­nais­sance

Sun Sentinel Broward Edition - - LOCAL - By Paul Ow­ers Staff writer Staff writer Larry Barszewski con­trib­uted to this report. pow­ers@sunsen­tinel.com, 561-243-6529 or Twitter @PaulOw­ers

Fort Laud­erdale’s Fla­gler Vil­lage neigh­bor­hood may be home to 385 new apart­ments.

An At­lanta-based de­vel­oper will meet with Fort Laud­erdale city of­fi­cials Tues­day to dis­cuss plans for 385 apart­ments in the Fla­gler Vil­lage neigh­bor­hood.

ArchCo Res­i­den­tial’s project at 500, 540 and 560 N. An­drews Ave. also would in­clude12,039 square feet of restau­rant space and 14,718 square feet of shops, ac­cord­ing to plans sub­mit­ted to the city.

The de­vel­oper, who will ap­pear be­fore Fort Laud­erdale’s De­vel­op­ment Re­view Com­mit­tee, still would needs the city com­mis­sion’s ap­proval be­fore con­struc­tion of the ArchCo Metropoli­tan could be­gin.

Fla­gler Vil­lage, an area north of Broward Boule­vard, has strug­gled for years but now is a pop­u­lar spot for renters and home­buy­ers who want to be part of the re­nais­sance in down­town Fort Laud­erdale.

Neil Brown, CEO of Arch Co Res­i­den­tial, said the com­pany be­gan dis­cussing a de­vel­op­ment in Fla­gler Vil­lage two years ago.

“It seemed to us over the long term to be a great area,” Brown said. “We wouldn’t do it other­wise.”

Brown founded the com­pany in 2013. Its port­fo­lio in­cludes projects in Cal­i­for­nia, North Carolina, Texas and Jack­sonville. He ex­pects Metropoli­tan rents for the stu­dio, one-, two- and three-bed­room units to range from $1,500 to $3,000 a month.

ArchCo as­sem­bled the land by pay­ing $23.2 mil­lion for all the parcels in the block bor­dered by North An­drews Av­enue, Sistrunk Boule­vard, North­east First Av­enue and North­east Fifth Street.

The last hold­out was Robert Larsen, who sold his home on North­east First Av­enue in Jan­uary for $5.25 mil­lion — $5 mil­lion more than it was as­sessed at by Broward County.

Larsen, pres­i­dent of the Fla­gler Vil­lage Civic As­so­ci­a­tion, said the group al­ready has signed off on the rental project.

He said res­i­dents heard a pre­sen­ta­tion this month from the de­vel­oper and were im­pressed with plans for pub­lic ac­cess and space, in­clud­ing an ur­ban court­yard.

“There were some pro­gres­sive el­e­ments to the build­ingwe liked,” he said.

Also Tues­day, the De­vel­op­ment Re­view Com­mit­tee is sched­uled to dis­cuss a We­ston de­vel­oper’s pro­posal for a small res­i­den­tial project in the Sail­boat Bend neigh­bor­hood aswell as Alabama de­vel­oper Nathan Cox’s plans to build 26 boat slips along theNewRiver at 1500 SW17th St.

A com­pany tied to Cox un­veiled Har­bour Twen­tySix in 2015, though the project stalled, andCox last year hired the Col­liers In­ter­na­tional com­mer­cial real es­tate firm to sell the site.

At the time, Cox said the ma­rina project didn’t fit with his com­pany’s core busi­ness of build­ing homes. Cox did not re­turn phone calls for com­men­tMon­day.

[Neil Brown] ex­pects Metropoli­tan rents for the stu­dio, one-, two- and three-bed­room units to range from $1,500 to $3,000 a month. ArchCo as­sem­bled the land by pay­ing $23.2 mil­lion for all the parcels in the block bor­dered by North An­drews Av­enue, Sistrunk Boule­vard, North­east First [Ave.] and North­east Fifth [St].

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