Downtown Fort Lauderdale is about to add another crane to a skyline that has been in steady motion for years. Alta New River, a 35-story rental tower at 100 SW 6th Street, is preparing to break ground in early November, closing a long wait for a project first proposed back in 2017. Alta Developers is leading the effort, and a freshly secured $140.2 million senior construction loan from JVP Management is what moved it from plan to start date.
The new financing replaces the developer’s original 2023 loan and increases it by $129.8 million, giving the project the funds to finally get moving. The land has its own paper trail. Alta Developers bought the one-acre site for $20.8 million in 2022, well above the $12 million that the sellers, a joint venture between Bizzi & Partners and Silverback Development, paid to assemble it in 2017.
In a statement, Raimundo Onetto, CEO of Alta Developers, said “Alta New River is our third residential project in Ft. Lauderdale, and breaking ground reflects our long-term commitment to this city”.
When complete, the tower is expected to hold 400 rental units averaging 840 square feet, with delivery estimated for 2028. Dorsky + Yue, the project’s architect, plans 4,127 square feet of ground-floor retail, a lobby and other uses, while 460 parking spaces will fill a nine-story garage. Residents get a plethora of amenity spaces as well, starting with a resort-style pool deck with cabanas, lounge spaces, an outdoor kitchen, and a barbecue area. Inside, there is a fitness center, a co-working lounge, club rooms, and a spa.
The tower’s look has held steady even as the financing changed. Plans show a height of about 380 feet, with height and massing that have shifted little since earlier versions. The exterior combines a largely stucco facade in gray and white tones with metal balconies, floor-to-ceiling windows and accent lighting. Kaufman Lynn Construction is the general contractor, One Line Design Studio is handling the interiors, and Greystar will manage the property once it opens.
Alta New River is landing in a city that is already experiencing a building boom. Completed as planned, it would add 400 units to Fort Lauderdale’s growing multifamily pipeline, which includes 4,371 units under construction in Downtown and Flagler Village alone, according to the city. Hundreds more are underway outside those central neighborhoods.