In a bold move that will transform Fort Lauderdale’s Flagler Village, Related Group has received approval to develop a mixed-income multifamily project, Gallery at Flagler Village. This innovative development promises to offer affordable luxury to a diverse range of residents, creating a dynamic community in the heart of the city.
The original plan, approved in 2021, called for a 12-story building with 195 apartments. However, Related Group, led by Chairman Jorge Pérez and President Jon Paul Pérez, successfully proposed a revised site plan, which will now feature a 16-story building with 263 apartments. The Fort Lauderdale City Commission approved the updated plan along with four deviations from design standards, giving the green light for this ambitious project.
With lending secured and construction set to begin, the Gallery at Flagler Village will rise at 600 North Andrews Avenue. The developer acquired control of the site through a land lease agreement with Broward County, the property’s owner. The project will be a game-changer for the area, offering affordable luxury living for moderate and very low-income households.
More than half of the apartments will be reserved for those earning no more than 120% of Broward County’s median household income (about $64,000 per year) or 50% of the median income. Out of the 263 apartments, 113 will be market-rate, while 53 units will cater to very low-income residents and 97 units will cater to moderate-income residents. The affordable housing commitment extends for an impressive 75 years, much longer than the traditional 30-year restriction.
The Gallery at Flagler Village will boast amenities that rival any luxury development, including a pool and open outdoor space on the sixth floor. It will also feature approximately 2,400 square feet of ground-floor retail space, adding vibrancy to the neighborhood.
In a move that emphasizes equality, affordable apartments will have the same design features as market-rate units. The apartments will be identical in size and offer the same amenities, countertops, kitchens, and bathrooms. This ensures that every resident, regardless of income, can enjoy the same high-quality living experience.
Related Group is no stranger to South Florida, with an impressive portfolio of developments across the region. The company recently partnered with BH to purchase a development site in Plantation for $13 million and has several projects in West Palm Beach, Fisher Island, downtown Miami, and North Miami. With a bullish outlook on the market, Related Group is poised to make a lasting impact on the area through innovative projects like the Gallery at Flagler Village.
In conclusion, the Gallery at Flagler Village will create a thriving, diverse community in Fort Lauderdale. With affordable luxury living, top-tier amenities, and a commitment to equality, this development is poised to become a shining example of what modern urban living can and should be. As construction begins, the eyes of South Florida will undoubtedly be watching, eager to see this game-changing project come to life.
