Construction has officially started on Hanover Riverwalk, a mixed-use 36-story venture in Broward County. Costing more than $120 million to complete, the tower will comprise 380 apartments and 2,700 square feet of retail. Units will measure 750 square feet to 1,440 square feet, ranging from one-bedroom to three-bedroom homes.
Florida YIMBY reported on this project in February 2022, when the developer was seeking site plan approval. Then, Hanover Riverwalk was called “1st Avenue Residences.” The report noted that amenities would include a landscaped amenity deck, swimming pool, cabanas, and other on-site offerings.
The tower measures more than 30 stories.
Given the venture’s size and scope, construction could take anywhere from 18 months to two years to complete. The build site measures 1.54 acres, located south of the New River. Hanover Companies owns Hanover Riverwalk.
Per the South Florida Business Journal, the developer purchased the build site for $20 million in 2022. It’s also operating as the general contractor. Our sources do not list an architect. Hanover Riverwalk intends to offer more multi-family housing developments in South Florida. These apartments will likely be at-market prices.
The venture will rest on a 1.53-acre parcel.
Hanover Riverwalk’s address is 477 S.W. First Ave., Fort Lauderdale, Florida, 33301, in Broward County. It’s east of I-95. Prior to the start of construction, the build site was unoccupied.
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