The Real Deal Miami

All-studio rental tower proposed in downtown Fort Lauderdale

Units would target 25-40 year-olds making median income of $65k
February 26, 2018 05:30PM

Renderings of rental building at 730 and 744 North Andrews Avenue

An all-studio apartment building may be added to the mix of rental buildings being developed in downtown Fort Lauderdale.

Savant Development Group, led by Irvington, New York-based Renato Rancic, just submitted an application to the city to build a 111-unit rental project at 730 and 744 North Andrews Avenue, between Sunrise Boulevard and Sistrunk Boulevard. Units would range from 450 square feet to 525 square feet, and would be geared toward residents between 25 to 40 years old making a medium income of $65,000, according to the South Florida Business Journal.

The proposed 127,000-square-foot development would have a 3,800-square-foot business center and a 3,500-square-foot cafe. The developer wants to reduce the required 127 parking spaces to 100 valet-only spaces. The project would also offer car-sharing services like Zipcar, proximity to All Aboard Florida’s Brightline station, and bike storage and sharing options. Other amenities include a rooftop pool deck and a gym.

Savant bought the nearly half-acre site in downtown Fort Lauderdale in July for $1.15 million.

The project will go before the city’s Development Review Committee on Tuesday. [SFBJ] – Amanda Rabines