Another Live Local Act project involving Related Group is in the works along Fort Lauderdale’s waterfront.
Coconut Grove-based Related, led by Jorge, Jon Paul and Nicholas Pérez, is partnering with Aventura-based BH Group, led by Liat and Isaac Toledano, and Boca Raton-based Pebb Enterprises, led by Ian Weiner, on the planned redevelopment of The Quay at 17th Street, a mixed-use property with a six-yacht marina at 1515 Southeast 17th Street.
The joint venture is seeking to develop The Quay, a 33-story tower with 521 apartments, including 217 units set aside for affordable and workforce housing, on a surface parking lot at the 7-acre site, according to a plan submitted to the city of Fort Lauderdale. The Quay will also include 4,983 square feet of commercial space and 758 parking spaces.
In addition to building a new high-rise, the developers would tear down a pair of existing two-story office buildings to make way for a waterfront public plaza. An existing shopping center would remain intact, the plan shows.
The Quay would offer a mix of studios, one-, two- and and three-bedroom apartments.
Under the state’s Live Local Act law, the project can bypass public hearings and be approved administratively because 40 percent of the apartments will be for affordable and workforce housing. The site is currently zoned for a mixed-use project with up to 361 residential units and 12,000 square feet of retail and restaurant space.
Last year, Related, BH and Pebb paid $48.5 million for The Quay at 17th Street. The joint venture also owns Ocean Walk, a retail plaza in Riviera Beach’s Singer Island, and Boca Raton’s Office Depot campus where the partnership is planning a mixed-use project with 500 apartments, a 36,700-square-foot gym and four retail and restaurant outparcels.
Related has a handful of Live Local Act projects on tap. This month, the firm’s affordable and workforce housing division unveiled plans for SoMi Parc, a mixed-use project in South Miami with 8,700 square feet of retail, 501 parking spaces and 391 apartments. Related would build SoMi Parc on a county-owned 3.3-acre site.
Related is also seeking to replace an older public housing building for low income seniors in Miami’s Health District with a 398-unit Live Local project, as well as redeveloping a 1,379-unit public housing complex in Miami’s Little Havana with two 21-story towers and a 12-story building with a combined 1,038 apartments.