The Real Deal Miami

Fort Lauderdale approves Ocean Land’s luxury senior living tower

$200M project spans 42 stories with 401 residential units

Rendering of Riverwalk Residences and the building that’s currently on the property

The Fort Lauderdale City Commission unanimously approved Riverwalk Residences of Las Olas, a senior and assisted living complex planned for downtown Fort Lauderdale.

The commission approved the project on Tuesday, according to a press release. Ocean Land plans to build a 42-story, 401-unit tower with 152 assisted living residences and 57 memory care units. The building will sit on a 33,000-square-foot site at 333 North New River Drive East.

Borges + Associates Architects is designing Riverwalk Residences, which will include restaurants, hotel rooms, a rooftop bar, a full-service spa, fitness center, virtual sport rooms, a theater and an outdoor pool. The complex will also offer on-site doctors’ offices, adult care centers and physical therapy for residents.

Ocean Land submitted plans for the $175 to $200 million luxury senior apartments in March.

A number of projects are in the pipeline in the Las Olas neighborhood of downtown Fort Lauderdale. In July, Property Markets Group closed a $153.9 million construction loan to build  two residential towers on the Los Olas Riverfront. The first phase of the PMG Los Olas project will add 600 micro residences with a 36-story tower, with an expected completion date in 2020.

Ocean Land also has five Aqua-branded condo projects on East Las Olas Boulevard in its portfolio. – Grace Guarnieri