Ellis Diversified

FAA Issues Building Permits For 432-Foot-Tall Structure At 488 Southwest 1st Avenue In Fort Lauderdale

FAA Building permits have been issued for work on 488 Residences at Riverwalk, a 38-story mixed-use building planned for 488 Southwest 1st Avenue in the Tarpon River neighborhood of Fort Lauderdale’s downtown corridor. Located one block south of the New River and bound by Southwest 5th Street on the south, plans for the 26,291-square foot property call for a 580,873-square-foot structure containing 362 dwelling units, around 6,000 square feet of retail space, and 363 parking spaces. Built Form and Tabanlıoğlu Architects designed the current publicly known iteration of the building. The developer is an entity linked to Colorado-based real estate investment trust UDR, Inc., which purchased the development from Ellis Diversified, Inc. in 2022 for $16 million.

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FAA Approves 35-Story Residential Tower For 477 SW 1st Avenue In Fort Lauderdale

Permits have been approved by the Federal Aviation Administration (FAA) for work on 477 Southwest 1st Avenue, a proposed 394-foot-tall residential building in Tarpon River, Fort Lauderdale. Located within the Downtown Regional Activity Center between Southwest 1st Avenue and Southwest Flagler Avenue with Southwest 4th Court on the North and Southwest 5th Street on the South, the project is being developed by Ellis Diversified, Inc. (EDI), a Fort Lauderdale-based firm led by real estate developer Jim Ellis, who acquired the 1.54-acre development site in September 2015 for $5 million. The FAA determination was approved on January 31, 2022 and will expire on July 31, 2023, meaning construction could occur relatively soon. 

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