In May 2023, Florida YIMBY reported on Sixth&Rio, a multi-million-dollar residential venture in downtown Fort Lauderdale that had recently broken ground. Now, we have an update.
Locally based OceanLand Investments has secured $96 million in funding to bring this project to life. According to the South Florida Business Journal, multiple lenders funded the loans, with Southern Realty Trust Inc. (SRT) providing the majority share at $60 million. Invictus Real Estate Partners served as the original loan originator, while SRT acted as the back-leverage provider. The luxury community is aiming for a 2026 delivery, with residences priced between $900,000 and $3 million.
A streetside view of the build site prior to construction. Image from Google Earth
Plans call for an eight-story, 94-condo tower. Homes will measure 819 to 2,449 square feet, with floorplans spanning one-bedroom to three-bedroom layouts. In-unit amenities will include Sub-Zero and Wolf appliances, floor-to-ceiling windows, and various energy-efficient features. The venture’s website shares that the upscale residences draw “influences from the French Art Nouveau style and Art Deco lines that are prevalent throughout Fort Lauderdale”.
FSMY Architects + Planners is the architect. Stiles Construction is the general contractor. Sixth&Rio is currently taking shape on a property that once featured an older condo. It was demolished after the developer acquired the site for $11.3 million in 2021.
Sixth&Rio is located at 501 SE 6th Ave, Fort Lauderdale, FL, 33301, in Broward County.
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