Dependable Equities, an affiliate of Sky Equity Group, has obtained $54 million in pre-construction financing to advance a major residential-led development initiative south of the New River near downtown Fort Lauderdale. The funding was provided by CDK, with Valley National Bank participating in the financing, giving the sponsor capital to move forward with early-stage work on two planned high-rise communities.
The pre-construction financing, arranged by Daryl Hagler and Allen Weinstein of CDK Capital, is earmarked for planning and pre-development activities rather than vertical construction. The capital will support design, site preparation, and other upfront work for the projects as the sponsor progresses toward a future construction start. Both developments are positioned close to Fort Lauderdale’s downtown core, reflecting continued investor and lender focus on urban mixed-use locations.
The two towers are planned for 101 SE 7th Street and 633 SE 3rd Avenue. Together, they are expected to encompass nearly 2 million square feet of mixed-use space, combining residential and commercial components. The program across the two sites calls for approximately 1,460 condominium and multifamily residences, along with roughly 14,000 square feet of ground-floor commercial space intended to activate the street level and serve residents and the surrounding neighborhood. Design responsibilities for both buildings are being led by architecture firm ODA.
Construction on the towers is anticipated to begin in early 2028, following completion of pre-development milestones supported by the new financing. The long lead time underscores the scale and complexity of the two high-rise communities, which are designed as large, phased additions to the city’s urban multifamily and condominium inventory. The projects are part of a broader pipeline for Dependable Equities in Fort Lauderdale.
With the addition of the developments at 101 SE 7th Street and 633 SE 3rd Avenue, Dependable Equities now has more than 2,200 residences in various stages of development across Fort Lauderdale. The latest financing reinforces the sponsor’s ongoing expansion in the market and highlights continued lender engagement with large, mixed-use residential projects near the downtown area.
