Developer PMG is replacing it with a project called Riverx that includes 1,200 rental apartments, along with 40,000 square feet of retail.
The first phase will include 650 apartments, along with retail.
PMG is aiming to price most apartments at less than $2,000 per month, by keeping unit sizes smaller. Prices will be around $3 per square foot.
PMG is currently constructing the 650-unit Phase One of RIVERx, a two-tower 1,200-unit luxury apartment community in the heart of downtown Fort Lauderdale. Opening in early 2020, the 41-story tower will feature first class food and beverage on an expansive pool deck with signature lazy river, modern fitness facilities, a jam room and performance space, and abundant co-working space. RIVERx will embody Fort Lauderdale’s cultural emergence, where sunny leisure meets metropolitan culture.