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Related to break ground on New River Yacht club rental tower in Fort Lauderdale

December 12, 2012 10:30AM

Related Group will break ground on the New River Yacht Club rental tower in Fort Lauderdale on Friday, the company announced. The 249-unit project represents the first residential tower in five years for downtown Fort Lauderdale. The tower, which is being funded by a $41 million construction loan, is slated for delivery in the spring of 2014 at 400 SW 1st Avenue. It was unanimously approved by the city in December. Suffolk Construction is the contractor on the project; Cohen Freeman Encinosa is the architect. — Alexander Britell