Fort Lauderdale-based Affiliated Development hopes to get financial incentives for a housing development with some workforce housing in Broward County.
The Cypress is planned to measure eight stories above grade and comprise 340 apartments. Of those units, 204 will be market-rate apartments, while the remaining will be reserved for households earning 100 and 120 percent of the area median income (AMI).
Broward County’s median income is currently $89,100, according to county records.
Floorplans at The Cypress would include one-bedroom, two-bedroom, and three-bedroom units; communal amenities would include a swimming pool, clubroom, and fitness center. The Cypress would also host some retail space and share a parking garage with the adjacent the Westin Fort Lauderdale hotel.
By including some workforce housing in the project, Affiliated Development hopes to get $8.83 million in financing through the Affordable-Workforce Housing Ad Valorem Tax Reimbursement Incentive. The firm has The Cypress’s 3.76-acre build site under contract from its current owner, PFL VII LLC.
Rinka, which is Affiliated Development’s in-house architect, designed the venture. Construction could start in the second quarter of 2027 pending various approvals. The Cypress is planned for 400 Corporate Drive, Fort Lauderdale, Florida, 33334, in Broward County.
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