Developer moving ahead with downtown 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 include 12,039 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 ArchCo 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 building we 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 as well as Alabama developer Nathan Cox’s plans to build 26 boat slips along the New River at 1500 SW 17th St.

A company tied to Cox unveiled Harbour TwentySix in 2015, though the project stalled, and Cox 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 comment Monday.