Las Olas in Fort Lauderdale, Florida, has a long-standing reputation of being a hub for art, culture, food, and music. Riverwalk Residences, an upcoming multi-story development, will supply housing to seniors seeking luxurious, fun-in-the-sun living.
Aerial shot of the current area
Right now, the project is expected to cost anywhere between $175 million and $200 million. Construction is expected to start in the third quarter of 2021. Ideally, residents will be able to move in sometime in 2022.
Borges & Associates Architects, which is located in Miami, is overseeing the project’s construction. They are working alongside Oceanland Investments, which owns a variety of condos in and around the Las Olas area.
Artist’s rendering of Riverwalk Residences
The 42-story building will have 192 independent living units, 152 assisted living units, and 57 units designated for those with Alzheimer’s disease and dementia. In total, there will be 401 units.
While the building is primarily residential, it will also feature doctors’ offices, adult daycare, a rooftop bar, and restaurants. Overall, the building will be 670,000 square feet of new construction. It will feature a parking garage, as well as communal spaces for residents to congregate.
A map of the general area
There is no information yet on how much each unit will cost, but the price rates may be similar to Oceanland Investment’s pre-existing units. The exact location is 333 N New River Drive East.
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I thought this was being turned into a luxury apartment complex? Or have the plans changed to go back to the senior living concept?
According to the project’s website, they’re aiming for the luxury senior living concept.
I understand that oceanland sold this property. Do we know if the new owner is going to build with the same use (seniors)?
At the time being it isn’t known if they’ll follow through with the same or similar plans.
Has there been any updates on the plans of the new owners?
The new owner is Atlanta-based developer Gable Residential.