The Society Las Olas project in Fort Lauderdale, Florida will soon enter Phase II of development. Property Markets Group (PMG) and Greybrook are partnering on this mixed-use apartment tower, a 42-story building that will bring 563 units to the location. To cover the construction costs, the developers secured a $226 million loan from Related Fund Management and Lubert-Adler.
Phase II of the Society Las Olas project will feature a 42-story apartment tower located at 140 Southwest Second Street. It will be the second apartment building at the project site, following the 639-unit tower from Phase I. PMG and Greybrook purchased the project’s 17,000-square-foot retail component for $17 million in early 2022, after the first phase was completed and sold.
Timeline for Phase II of the Society Las Olas Project
Ryan Shear, PMG’s partner, stated that the 42-story Society Las Olas tower will be the newest addition to the Riverfront district redevelopment. Building on the success of Phase I, which included retail and art installations, the developers have already begun groundwork for Phase II. They expect the project to be completed by fall of 2025.
Upon completion, the 42-story Society Las Olas tower will feature 563 luxury apartments. These units will offer both traditional rental arrangements and co-living/rent-by-bedroom options. The project also includes a 1,652 square foot ground-floor retail component. John Moriarty & Associates will serve as the general contractor, and FSMY Architects + Planners will be the architect.
The tower will provide amenities such as a coworking lab with private meeting rooms, a pool deck, yoga lawn, and a modern fitness center. The building will incorporate a proprietary mobile app for keyless entry, allowing residents to conveniently manage various aspects such as guest lists, smart thermostats, package notifications, payments, maintenance requests, and community event registration.
Closing Statements
What is the Society Las Olas project?
The Society Las Olas project is a mixed-use apartment tower development located in Fort Lauderdale, Florida. It consists of multiple phases, with Phase II featuring a 42-story apartment tower.
Who are the developers of the Society Las Olas project?
The developers of the Society Las Olas project are Property Markets Group (PMG) and Greybrook.
What amenities will be available in the Society Las Olas tower?
The Society Las Olas tower will offer amenities such as a coworking lab with private meeting rooms, a pool deck, yoga lawn, and a modern fitness center. It will also feature a proprietary mobile app for keyless entry and convenient management of various aspects for residents.
When is the expected completion date for Phase II of the Society Las Olas project?
Phase II of the Society Las Olas project is expected to be completed by fall of 2025.
Will there be retail space in the Society Las Olas project?
Yes, the project includes a 1,652 square foot ground-floor retail component.
