OKO Group, Cain International Break Ground On 34-Story One River Luxury Apartment Tower in Downtown Fort Lauderdale

OKO Group and Cain International have broken ground on their next joint venture development, One River Fort Lauderdale, a 34-story tower located at 629 Southeast 5th Avenue that will yield 365,203-square-feet including 251 high-end apartments, 2,600 square feet of ground level retail space and a 6-story, 337-space parking garage. On Friday, July 22nd, a ceremonial groundbreaking was held at the site to commemorate the start of construction. Notable attendees included City of Fort Lauderdale Mayor Dean Trantalis, and Vice Mayor Ben Sorensen. The groundbreaking announcement follows recent news that the development team secured $97.2 million in financing from Bank OZK and JVP Management to help fund construction of the tower. Construction is expected to be completed in late 2024.

One River was designed by internationally acclaimed architecture firm Adrian Smith + Gordon Gill Architecture – whose design portfolio includes some of the tallest iconic buildings in the world such as the 2,722-foot-tall Burj Khalifa in Dubai, New York City’s 1,550-foot-tall Central Park Tower, and the soon-to-be world’s tallest building, the 1,000-meter Jeddah Tower in Saudi Arabia. Dorsky + Yue International Architecture served as the architect of record.

One River. Credit: Dorsky + Yue Architecture.

“As South Florida continues to attract world leading companies, we anticipate a sustained demand for high-quality housing to host its growing talent. Following our success in Miami in both the commercial and residential markets, we are thrilled to extend our partnership with OKO Group with our first investment in Fort Lauderdale,” said Jonathan Goldstein, CEO of Cain International. “One River will set a new standard in the Fort Lauderdale multifamily marketplace as the city establishes itself as one of South Florida’s prime locations.” 

“Over the last few years, the City of Fort Lauderdale has experienced unprecedented population growth, which has fueled the demand for residential living in the area. The launch of One River will fulfill this demand amidst the massive migration to the region. We’re confident in the multifamily market in South Florida as domestic residents and businesses continue to flock to the area, attracted by the region’s desirable quality of life, tax-friendly policies, and growing creative community,” said Fran Scola, Chief Financial Officer of OKO Group.   

One River. Credit: Dorsky + Yue Architecture.

Well-appointed apartments will range from studios to three-bedroom units featuring high-end finishes, top-of-the line appliances, and expansive balconies with river, ocean, and city views. Residents will have exclusive access to a resort-style rooftop pool deck and over 13,000 square feet of amenities, including a state-of-the-art fitness center with Yoga, Spinning and Pilates rooms, a spa with sauna and steam facilities, outdoor fitness deck, barbecue terrace, media room, lounge/game room, and a private kitchen/dining room. Residents will also enjoy a luxury hotel-style lobby, coworking lounge, package room, bike room and a dog spa.  

One River is OKO Group’s and Cain International’s latest partnership in South Florida. The joint venture development team has another four projects currently under construction in Miami, including Missoni Baia, a luxury condominium in Edgewater; Una Residences, an ultra-luxury condominium on the Brickell waterfront; 830 Brickell, a Class-A plus office tower in the Brickell Financial District; and the Aman New York, which will open in August.

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