Stiles Residential Group and The Rockefeller Group Break Ground on New Residential Development in Downtown Fort Lauderdale
Posted on 7/10/2014Stiles Residential Group, a division of full-service real estate firm Stiles, and The Rockefeller Group are pleased officially to announce the groundbreaking of downtown Fort Lauderdale's newest and only ultra-luxury residential high-rise building. Located at 215 SE 8th Avenue, just one block from the best shopping and dining on the iconic Las Olas Boulevard, the new 254-unit luxury residential tower is part of Stiles' long-term vision to create a downtown district that provides a successful urban mixed-use environment in the heart of Broward County.
"There is a growing demand for luxury multifamily living in urban areas throughout South Florida," said Jay Jacobson, President of Stiles Residential Group. "The Las Olas Boulevard corridor is in high demand due to its proximity to a number of the nation's finest single-family residential neighborhoods, exciting nightlife, abundance of restaurants and shops, depth of culture and accessibility to employment centers in downtown. This is the quintessential urban walking neighborhood that cannot be found anywhere else in Fort Lauderdale."
According to Jacobson, this high-rise will offer a lifestyle that appeals to a broad demographic, specifically catering to residents who are familiar with the accessibility, walkability and urban lifestyle that has been prevalent in east Fort Lauderdale for over 80 years. It also caters to those who desire a cosmopolitan South Florida living experience that combines luxury and quality with the benefits of living in the heart of downtown.
"The Rockefeller Group is excited to begin construction on this unique residential project in Fort Lauderdale, and we believe that with Stiles we have partnered with a company who shares our vision for the property," said John Petricola, Senior Vice President and Southeast Regional Development Officer for The Rockefeller Group. "We are confident that with our sponsorship and our core Las Olas location we can set a new standard for luxury living in South Florida."
The project will offer unparalleled views of downtown and the Atlantic Ocean with a variety of high-end amenities and services, including a state-of-the-art fitness facility with custom exercise routines and running routes, club room complete with a bar and entertainment kitchen, as well as an elevated pool deck with cabanas, grill area and hot tub. Other amenities include a full-time concierge service, internet café, fire pit gathering area, pet spa, dog park, and dedicated elevator to be used for deliveries. Also, unique to any rental building in South Florida, a limited number of individual garage spaces will be available for residents desiring private parking.
"We are proud to partner with The Rockefeller Group, one of the nation's top commercial and residential developers," said Jacobson. "Stiles' intimate knowledge of Fort Lauderdale and more than 60 years of experience developing real estate in the Southeast, along with Rockefeller's track record of international success that extends more than eight decades, provides for an excellent synergy between our two groups. We are both very excited to bring a landmark residential project to downtown."
Units in this Las Olas project will range from one- to three-bedrooms from 750 — 2,450 square feet. Designed with nine- to 12-foot ceilings, floor-to-ceiling windows and hurricane impact sliding glass doors, the units provide abundant views of both the cityscape to the West and coastline to the East. Each residence will feature high-end finishes including granite countertops, stainless steel appliances, in-unit washer and dryers, and private balconies. Additionally the top six floors will be premium units, with increased square footage and upgraded finishes and appliances.
This project will augment the 3.5 million square feet of commercial and residential property Stiles has already developed along Las Olas Boulevard, including its corporate headquarters and the iconic Bank of America Building at Las Olas. This is the company's second residential development in the downtown Fort Lauderdale Financial District. Previously, Stiles developed 350 Las Olas Place, a 163-unit, 30-story condominium completed in 2005. Stiles Residential Group is also currently underway with luxury multifamily project, Twelve Twelve, a 312-unit, 23-story high-rise condominium building in Nashville, Tenn.
Construction is expected to be completed in December 2015.
Stiles is a full-service commercial and multi-family real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Florida, Stiles also maintains regional offices in Miami, Palm Beach, Fort Myers, Tampa and Orlando, Florida, as well as Charlotte, North Carolina. Stiles is responsible for more than 40 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://www.stiles.com or call 954-627-9300.