FORT LAUDERDALE | Society Las Olas | 499 + 469 FT | 46 + 42 FLOORS

chris08876 · #1 Posted **Jan 20, 2017, 1:32 AM**

PMG closes On $29m Las Olas Riverfront Site, Apartments & Retail Planned

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The proposed waterfront project is comprised of 2.38 acres of waterfront land and will encompass over two phase millennial targeted rental development with 40,000 square feet of retail. The land was purchased from Dev Motwani who helped facilitate the transaction.

The transaction was brokered by Robert Given of Cushman Wakefield and was facilitated by Luis Flores, attorney for Arnstein and Lehr and Courtney Crush of Crush Law, P.A. The innovative riverfront project will be geared towards millennials and offer a cutting edge lifestyle much like PMG plans for their 300 project in downtown Miami. PMG will be working with the design team of FSMY Architects and TBG Landscape Architect and Planners on the project.

“We are very excited about this new venture and the possibilities for the area” states Ryan Shear, Principal at PMG “We would like to thank the City of Ft Lauderdale and the review committee for sharing in our vision and we are looking forward to working with all parties towards mutual success on this project. As a person who used to go out in Riverfront we look forward to bringing the location back to its glory and more.”

Ft Lauderdale has been experiencing a transformational surge in activity over the past year and steadily growing into a cultural and creative urban destination. This project will be a significant contribution to the area’s resurgence and offer a unique residential community and viable rental option among the rapidly rising sale prices of the neighborhood. PMG has always been known for innovative cutting edge development as well as consistent high quality product and this new project will be the next addition to their impressive portfolio.

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1,200 apartments proposed to replace struggling Las Olas Riverfront

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The Las Olas Riverfront, a long-dead entertainment and shopping complex in downtown Fort Lauderdale, might be razed and replaced by two apartment towers overlooking the New River.

Property Markets Group wants to build 46- and 42-story apartment buildings combining 1,200 units, as well as a mix of restaurants and "lifestyle retailers."

The towers would be the tallest in Fort Lauderdale at 499 feet and 469 feet, surpassing Icon Las Olas' 455 feet. Riverfront's taller tower also would be higher than another proposed project, 100 Las Olas, which would be 493 feet.

The proposal will go before the city of Fort Lauderdale's Development Review Committee next week, the first of several steps to reach the city commission.

Ryan Shear, a principal of the development firm, said he hopes to start construction in the second quarter of 2017. The project — to be called The Riverfront — would be built in two phases over seven to eight years.

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http://www.sun-sentinel.com/real-est...906-story.html

chris08876 · #2 Posted **Aug 18, 2017, 1:29 AM**

Demo is occurring.

Credit: Property Markets Group

Dale · #3 Posted **Aug 18, 2017, 12:13 PM**

So, is any portion of the existing retail complex being saved ?

UrbanImpact · #4 Posted **Aug 18, 2017, 4:34 PM**

In the renders, it looks like the Eastern half is being saved.

chris08876 · #5 Posted **Oct 25, 2017, 11:50 AM**

Wrecking ball levels Fort Lauderdale's Riverfront complex

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Las Olas Riverfront is falling to a wrecking ball this week, although its obituary has been years in the making.

The 19-year-old shopping and entertainment complex along the New River west of Andrews Avenue in downtown Fort Lauderdale was described as a flop just eight years after its opening. It’s been mostly vacant in recent years.

In its place will be two high-rise residential towers — 42 and 38 stories tall — with 40,000 square feet of shops and restaurants on their lower levels by developer Property Markets Group.

City officials are hoping the new project will succeed where Riverfront did not in bringing life to the city’s Riverwalk linear park along the north side of the New River. The 254,000-square-foot complex was subsidized with $3 million from taxpayers.

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http://www.sun-sentinel.com/local/br...005-story.html

chris08876 · #6 Posted **Jan 23, 2018, 1:18 AM**

34-Story X Las Olas Breaks Ground, Will Have Up To 1,200 Units

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PMG’s X Las Olas Celebrates Groundbreaking

FORT LAUDERDALE, FL- January 17, 2018 – PMG’s growing portfolio of X Social Communities is making headlines across South Florida from the recent announcement of 400 Biscayne’s land acquisition in Miami and the groundbreaking of X Las Olas in Fort Lauderdale. The development firm is changing the way modern professionals think about living downtown in both markets.

On Wednesday, January 17th, the PMG team alongside Mayor Jack Seiler, Vice Mayor Bruce Roberts, and city and county officials gathered to celebrate a groundbreaking milestone for PMG’s X Social Communities or “XSC.” Starting onsite at 4 p.m., PMG Principal Ryan Shear, Mayor of Fort Lauderdale Jack Seiler and Broward County Commissioner Barbara Sharief, spoke about how X Las Olas is going to energize the way residents live, work, and socialize on the former Riverfront entertainment complex site bridging Las Olas Blvd. and Himmarshee Village. Following the onsite ceremony, guests continued the celebration across the street at Rooftop where drinks and food was served.

“With X Las Olas being our first project in Fort Lauderdale, working with the city and surrounding neighbors to launch a social hub that embodies the spirit of the area has been exciting.” explains Ryan Shear, Principal of PMG. “Fort Lauderdale is evolving, and we are thrilled to be creating a tech-forward, fun and convenient rental community that will invigorate and embrace the community.”

Slated for completion in 2020, X Las Olas will include two apartment towers with 1,200 residential units. Phase one will include a 34-floor residential tower with approximately 639 studios, 1 bedrooms, and 2-4 bedroom suites, plus more than 100,000 square feet of communal amenity spaces throughout the tower and rooftop. Furthermore, phase one will include 30,000 square feet of ground floor retail space, featuring restaurants, markets, services, and entertainment along the waterfront on Fort Lauderdale’s New River.

Amenities will include co-working space that eliminates the need for an office, an oversized gym and fitness studio with frequent group classes, a communal kitchens to host potlucks and demonstrations, smart package lockers, dog runs, and bike storage facilities. Many units be available fully furnished down to the forks and lines. A proprietary mobile app will enable keyless entry, managing guest lists and access, adjusting smart thermostats, notifications about packages, and facilitate frequent social events.

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