The Real Deal Miami

Fort Lauderdale development scores $59M loan

Rockefeller Group and Stiles Corp. have yet to announce project details

November 04, 2014 05:15PM

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A rendering of 215 S.E. 8th Avenue

A rendering of 215 Southeast Eighth Avenue, (credit www.insidefortlauderdale.com)

Rockefeller Group and Stiles Corp. scored a $59 million construction loan for a 30-story residential tower near Fort Lauderdale’s Las Olas Boulevard.

The mortgage, issued by Wells Fargo Bank, will fund construction on the 1.25-acre site at 215 Southeast Eighth Avenue, formerly the site of the French Quarter, according to the South Florida Business Journal.

The developers recently broke ground on the 254 units plus a parking garage, but haven’t announced whether it will be a rental or a condo.

Units will range from one bedroom and 750 square feet to three bedrooms and 2,450 square feet. Amenities will include an elevated pool deck and fitness center. [South Florida Business Journal]Christopher Cameron

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