Hines, in partnership with Urban Street Development, has successfully secured a $220 million loan from Bank OZK for the first phase of FAT Village. This 5.6-acre master-planned urban mixed-use development is located in Fort Lauderdale’s Flagler Village neighborhood and will span over 835,000 square feet upon completion.
The initial phase will feature 601 multifamily units and approximately 180,000 square feet of office space in Hines’ innovative T3 building made with heavy timber materials. Additionally, there will be more than 70,000 square feet of retail space as well as various food and beverage options along with shopping opportunities.
FAT Village also boasts entertainment options such as art studios and galleries to enhance its vibrant atmosphere. The development’s strategic location just two blocks away from Brightline’s Fort Lauderdale high-speed commuter rail station further adds to its appeal by providing convenient access to Miami, West Palm Beach,and Orlando.
According to Alan Kennedy of Hines,”We are pleased that despite the current slowdown in financing and construction starts,FAT Village is able to move forward.We strongly believe that this project will have a transformative impact on FlaglerVillageandFortLauderdale.”
