Encore Capital Management has broken ground on The Rise Flagler Village, a 348-unit high-rise in Fort Lauderdale, Fla. The project is scheduled for delivery in early 2020. The company launched the luxury apartment brand last year with The Rise Old Town, an 87-unit community in Beaverton, Ore.
Located at 405 N.E. 2nd St. in the city’s Flagler Village neighborhood, the 30-story property will boast a full amenity deck complete with a resort-style pool, elevated gardens, fitness center and lounge area. The Rise Flagler Village will also feature ground-level retail space on 3rd Street and is within walking distance of the Las Olas shopping district, FAT village events, the new Brightline station and mass transit.
A brand on the rise
In Florida, The Rise Flagler Village will be followed by The Rise Plantation Walk, which will be a part of a $350 million mixed-use project in Plantation, a few miles west of Fort Lauderdale. Additionally, Encore is working on “The Rise” brand product in San Francisco and Los Angeles. Those projects include The Rise Central, The Rise Hayes Valley, The Rise Walnut Creek, The Rise Hollywood and The Rise Koreatown.
“The Rise projects are located in neighborhoods near quality employment centers, mass transit, great recreation and entertainment options—these are the submarkets where people want to live, work and play. South Florida has an especially high population of millennials, many of whom prefer to rent by choice in an amenity-rich, luxury apartment building rather than dealing with the challenges of purchasing a home,” said Art Falcone, managing principal with Encore, in a prepared statement.
Images courtesy of Encore Capital Management