A major new Fort Lauderdale apartment development has been proposed to help address the city’s ongoing housing demand. Named Terrasse, the project aims to transform a former supermarket site into a dense, mixed-income residential community. The proposal represents a growing trend of developers utilizing state-level legislative incentives to bring diverse housing options to South Florida’s urban cores. By introducing a blend of market-rate and workforce units, the project seeks to balance commercial viability with accessible housing.
Three-Tower Design Planned for Cordova Road
The development is slated for the properties located at 1625 and 1645 Cordova Road, which previously housed a Winn-Dixie supermarket. The plan outlines a massive three-tower setup designed to accommodate hundreds of new households in this busy corridor. According to the architectural proposal, the site layout will feature two towering 36-story structures alongside a third, shorter 19-story building. This configuration will alter the local skyline while significantly boosting residential density in the neighborhood. This modern design seeks to maximize the use of the former retail parcel, transitioning it from a single-story commercial lot into a vibrant vertical residential space.
Key Features of the Fort Lauderdale apartment development
Beyond its impressive vertical scale, the project aims to balance affordable living with standard rental options. Out of the 765 total residences planned for the site, more than a third will be designated specifically for workforce housing, ensuring that local workers have access to modern housing near employment hubs. The developer’s plans also incorporate commercial utility and ample parking infrastructure to support the large volume of incoming residents. Here is a breakdown of the specific details included in the current development plans:
- Workforce Housing: 306 units reserved for individuals and families earning up to 120% of the area median income.
- Market-Rate Housing: 459 apartments offered at standard market pricing.
- Commercial Space: 3,200 square feet of retail or commercial space integrated into the project layout.
- On-Site Parking: A total of 1,230 parking spaces to accommodate residents, guests, and commercial patrons.
Bypassing Local Zoning via the Live Local Act
The developers are advancing the Terrasse project under the regulatory framework of Florida’s Live Local Act. This state-level legislation serves as a powerful pathway designed to ease the development process for builders who commit to workforce housing. By allocating a significant portion of the residential units to income-restricted housing, projects under this act can bypass traditional municipal rezoning requirements. This legislation allows developers to build with greater height and density than local zoning would typically permit, streamlining the pipeline for much-needed housing in highly competitive markets. This statutory approach has become a cornerstone for urban planning in South Florida, as local municipalities work to accommodate rapid population growth. Terrasse is just one of several high-density developments currently moving through the planning stages in Fort Lauderdale under this legislative tool.
Market Insights for Broward County Property Investors
The evolving real estate environment in Fort Lauderdale presents unique dynamics for South Florida property investors and buyers. The introduction of large-scale projects like Terrasse shows how state policies are actively reshaping urban development patterns in Broward County. As developers increasingly leverage the Live Local Act, the local multifamily landscape is seeing a major influx of mixed-income proposals. For those tracking the regional rental market, these projects introduce a substantial volume of new inventory, combining both affordable and market-rate units in central, walkable corridors. Understanding how these legislative incentives alter local supply dynamics is essential for navigating the changing Broward County real estate market.
Source: World Red Eye
