By Timea Papp
Silverback Development has partnered with Bizzi & Partners Development to complete the acquisition of a five-block assemblage in downtown Fort Lauderdale, Fla. The joint venture has unveiled its plans to develop a $125 million luxury mixed-use project dubbed New River Central on the purchased site. The developers expect to break ground on the rental project in the fourth quarter of 2018.
Located at 100 SW 6th St., the development site traded for $12 million. The 35-story New River Central will feature 401 residences, 5,500 square feet of retail space, 20,000 square feet of amenities and a nine-story parking garage with 477 spaces.
“Our team is really excited to be embarking on our first project in the booming South Florida market,” said Josh Schuster, managing principal of Silverback Development, in prepared remarks. “We look forward to delivering a world-class residential building to Fort Lauderdale’s rapidly transforming downtown neighborhood.”
“With New River Central, we are creating a unique product in one of the most desirable residential markets in South Florida,” added Steven Della Salla, managing principal of Bizzi & Partners Development.
The development marks Bizzi & Partners’ second South Florida project, following Eighty Seven Park, a 66-unit condominium building under construction in Miami Beach. Designed by Renzo Piano, Eight Seven Park is the architect’s first residential project in the U.S.
Rendering courtesy of Silverback Development and Bizzi & Partners