ZOM Living to Develop Ft. Lauderdale Community
The developer will break ground on Las Olas Walk, two eight-story luxury apartment buildings on a 3.2-acre parcel.
By Jeffrey Steele
Orlando-based ZOM Living has acquired a 3.16-acre parcel in Fort Lauderdale, Fla., where it will break ground on Las Olas Walk. The 456-unit apartment community will be housed in a pair of eight-story buildings linked by air-conditioned walkways. A short walk to Las Olas Boulevard, the property will allow residents to savor such attractions as Broward Center for the Performing Arts, Flagler Village and The Riverfront.
The property will feature 14,000 square feet of ground-floor private resident amenities, as well as a large courtyard anchored by a resident pavilion with outdoor bar and lounge. On the South Building’s eighth-floor level, a rooftop deck will give residents views of the New River, Downtown Fort Lauderdale and the beaches.
“The real estate presents ZOM with a truly unique opportunity to develop a first-class project in the heart of Fort Lauderdale,” Vice President of Development Kyle Clayton told MHN. “The immediate pedestrian access to Las Olas Boulevard and complementary Federal Highway location will combine with a natural canal-front setting to provide residents with a unique living destination.”
Calculated returns are commensurate with the few similar projects available within the downtown core, according to Clayton. “We are excited to bring the ZOM brand back to downtown Fort Lauderdale,” he said.
Unique canal location
While the urban location is attractive, it carries physical and logistical challenges that go hand-in-hand with dense central city site construction. “The property was highly sought after and ZOM was selected from a large group of its development peers to provide a first-class luxury rental project,” Clayton said. “The land seller has extensive long-term real estate holdings in the immediate area surrounding the site … Their confidence ZOM will deliver a best-in-class project which will complement and elevate the area was the most material factor in the selection process.”
In addition to its location in the core of downtown, the most unique characteristic of the site is the Himmarshee Canal terminating in the middle of the largest section of the project, Clayton said.
“Improving as well as expanding this water asset and focusing our mid-rise buildings around it unlocks maximum value from both views and recreational access using cost-efficient construction methods,” he said. ”Consensus on balancing site priorities amongst the environmentalists, neighboring community, permitting authority and the developer was an arduous task only made successful by starting with a concept which thoughtfully considers all stakeholders.”
The Las Olas Walk site enjoys a WalkScore of 95. It is within blocks of Brightline’s new Fort Lauderdale station, enabling commuter, business and tourist travel between Miami, Fort Lauderdale and Orlando. Residents can walk to the Wave Streetcar in five minutes.
Pre-leasing will start in late 2019, with the first batch of units delivered in early 2020.
Image courtesy of ZOM Living