1,200 Apartments Planned At Las Olas Riverfront, Rents At $3 PSF

PMG has cut a deal with Las Olas Riverfront owner Dev Motwani to redevelop a portion of the property, according to the SFBJ.

The project will have twin towers of 46 and 42 stories, and is set for review by Fort Lauderdale’s Development Review Committee next week. If approved, it will include:

  • 244 studios
  • 488 one bedrooms
  • 357 two bedrooms,
  • 26 three bedrooms
  • 159 four bedrooms

The combined total is 1,274 units, along with 40,000 square feet of retail and 1,944 parking spaces. FSMY Architects is the architect.

PMG principal Ryan Shear said that he wants rents for the 500-square-foot units to go for around $1,500 per month, or $3 per square foot.

In addition to PMG’s project, Motwani said he is considering a hotel with condo units on the eastern portion of the property, and more retail.